NEw York CORRESPONDENT

an organization as The National City Bank’s Washington Bureau is
frequently indispensable.

Interest on Balances—CQCollections

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To its correspondent banks The National City Bank of New York
pays the rate of interest permissible under the rules of the New York
Clearing House Association.
The Bank receives at par for their credit, its correspondents’ items
falling under the discretionary rules of the Clearing House. Those
items upon which an exchange rate is obligatory under the Clearing
House regulations are received by The National City Bank of New
York for correspondent banks at the minimum permissible rate.

Trust Department

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The Bank, through its Trust Department, is authorized and prepared
 to act in any fiduciary capacity in which trust companies and
state banks in New York State are permitted to act.
Among the principal functions which the Trust Department performs
 are the following:

For Individuals

Executor and trustee under will;
Trustee under living trust, and insurance trust;
Administrator of an estate;
Guardian of the property of minors;
Committee of the property of incompetents;
Depositary of property placed in escrow.

For Corporations

Trustee under mortgages or indentures securing issues of bonds or notes;
Fiscal agent for foreign governments and states;
Transfer agent;
Registrar of stocks or bonds;
Fiscal agent for the payment of dividends, coupons, and principal of bonds and
notes;
Depositary, as follows: Under escrow agreements; under voting trusteeships;
under reorganization or adjustment agreements; of subscriptions to stocks
or bonds.

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