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article: 1 from 1  
1996, vol. 39, iss. 3-4, pp. 147-154
Yugoslav banks and the necessity of opening depo-accounts for securities
Vojvođanska banka, Novi Sad
Keywords: banks; custody account services; security safekeeping
Abstract
Custodian services - securities safekeeping, custody accounts, buying and selling securities on semi-cash or cashless basis have been practically nonexistent in our theory and practice. Little is known about the technicalities of these services. Even less thought is given to the economic aspects and logic of engaging in securities dealing although there is a legal framework for it. Moreover, from the business policy viewpoint of the bank, it is necessary to offer a range of new securities-linked services. It is high time Yugoslav banks transformed their depository function and traditional depository services into custody account services, where materialized and dematerialized (higher level) securities are only registered and traded on semi-cash or cashless basis, solely by debit transfer from seller to buyer. In this way, conditions will be created for a securities issue to be registered, just like money issue, at the point of origination. Securities will thus be legalized as the scrip money. This step, finally, should restore confidence in function and power of financial instruments.
References
Bartulović, M. (1996) Pravno-teorijska i praktična problematika dematerijalizacije hartija od vrednosti. Tržište novca, Beograd, posebno izdanje, decembar
European Monetary Institute (1996) Payment system in the European Union. Frankfurt a/M, April
ISSA (1996) Revizija preporuka G 30. Od 24. Septembra
Ristić, Ž. (1990) Tržište kapitala - teorija i praksa. Beograd: Privredni pregled
 

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article language: Serbian
document type: unclassified
published in SCIndeks: 02/06/2007

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