Asset Servicing

 

Global Disclosure

 

bnymellon.com

 

BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation and may be used to reference the corporation as a whole and/or its various subsidiaries generally. This material does not constitute a recommendation by BNY Mellon of any kind. The information herein is not intended to provide tax, legal, investment, accounting, financial or other professional advice on any matter, and should not be used or relied upon as such. The views expressed within this material are those of the contributors and not necessarily those of BNY Mellon. BNY Mellon has not independently verified the information contained in this material and makes no representation as to the accuracy, completeness, timeliness, merchantability or fitness for a specific purpose of the information provided in this material. BNY Mellon assumes no direct or consequential liability for any errors in or reliance upon this material.

 

The Bank of New York Mellon, a banking corporation organized pursuant to the laws of the State of New York, whose registered office is at 240 Greenwich St, NY, NY 10286, USA. The Bank of New York Mellon is supervised and regulated by the New York State Department of Financial Services and the US Federal Reserve and is authorized by the Prudential Regulation Authority (PRA) (Firm Reference Number: 122467).

 

The Bank of New York Mellon operates in the UK through its London branch (UK companies house numbers FC005522 and BR000818) at BNY Mellon Centre, 160 Queen Victoria Street, London, EC4V 4LA and is subject to regulation by the Financial Conduct Authority (FCA) at 12 Endeavour Square, London, E20 1JN, UK and limited regulation by the PRA at The Bank of England, Threadneedle St, London, EC2R 8AH, UK. Details about the extent of our regulation by the PRA are available from us on request.

 

BNY Mellon Fund Services (Ireland) Designated Activity Company is registered with Company No 218007, having its registered office at One Dockland Central, Guild Street, IFSC, Dublin 1, Ireland. It is regulated by the Central Bank of Ireland.

 

The Bank of New York Mellon operates in Germany through its Frankfurt am Main branch (registered in Germany with Registration No. HRB 12731) at Friedrich-Ebert-Anlage 49, 60327 Frankfurt am Main, Germany. It is under the supervision of the German Central Bank and the Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht, Marie-Curie-Str. 24-28, 60439 Frankfurt, Germany) under registration number 10100253.

 

The Bank of New York Mellon SA/NV, a Belgian public limited liability company, with company number 0806.743.159, whose registered office is at Boulevard Anspachlaan 1, B-1000 Brussels, Belgium, authorised and regulated as a significant credit institution by the European Central Bank (ECB), under the prudential supervision of the National Bank of Belgium (NBB) and under the supervision of the Belgian Financial Services and Markets Authority (FSMA) for conduct of business rules, a subsidiary of The Bank of New York Mellon.

 

The Bank of New York Mellon SA/NV operates in Ireland through its Dublin branch at Riverside II, Sir John Rogerson's Quay Grand Canal Dock, Dublin 2, D02KV60, Ireland and is registered with the Companies Registration Office in Ireland No. 907126 & with VAT No. IE 9578054E. The Bank of New York Mellon SA/NV, Dublin Branch is subject to additional regulation by the Central Bank of Ireland for Depository Services and for conduct of business rules.

 

The Bank of New York Mellon SA/NV is trading in Germany as The Bank of New York Mellon SA/NV, Asset Servicing, Niederlassung Frankfurt am Main, and has its registered office at MesseTurm, Friedrich-Ebert-Anlage 49, 60327 Frankfurt am Main, Germany. It is subject to limited additional regulation by the Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht, Marie-Curie-Str. 24-28, 60439 Frankfurt, Germany) under registration number 122721.

 

The Bank of New York Mellon SA/NV operates in Poland as The Bank of New York Mellon SA/NV (Joint-stock Company) Branch in Poland with Statistical Number 524311310, whose registered office is at Sucha 2, 50-086 Wroclaw, Poland. The Bank of New York Mellon SA/NV (Joint-stock Company) Branch in Poland is a non-contracting branch.

 

The Bank of New York Mellon SA/NV operates in the Netherlands through its Amsterdam branch at Tribes SOM2 Building, Claude Debussylaan 7, 1082 MC Amsterdam, the Netherlands. The Bank of New York Mellon SA/NV, Amsterdam Branch is subject to limited additional supervision by the Dutch Central Bank (“De Nederlandsche Bank” or “DNB”) on integrity issues only (registration number 34363596). DNB holds office at Westeinde 1, 1017 ZN Amsterdam, the Netherlands.

 

The Bank of New York Mellon SA/NV operates in Luxembourg through its Luxembourg branch at 2-4 rue Eugene Ruppert, Vertigo Building – Polaris, L- 2453, Luxembourg. The Bank of New York Mellon SA/NV, Luxembourg Branch is subject to limited additional regulation by the Commission de Surveillance du Secteur Financier at 283, route d’Arlon, L-1150 Luxembourg for conduct of business rules, and in its role as UCITS/AIF depositary and central administration agent.

 

The Bank of New York Mellon SA/NV operates in France through its Paris branch at 7 Rue Scribe, Paris, Paris 75009, France. The Bank of New York Mellon SA/NV, Paris Branch is subject to limited additional regulation by Secrétariat Général de l’Autorité de Contrôle Prudentiel at Première Direction du Contrôle de Banques (DCB 1), Service 2, 61, Rue Taitbout, 75436 Paris Cedex 09, France (registration number (SIREN) Nr. 538 228 420 RCS Paris - CIB 13733).

 

The Bank of New York Mellon SA/NV operates in Italy through its Milan branch at Via Mike Bongiorno no. 13, Diamantino building, 5th floor, Milan, 20124, Italy. The Bank of New York Mellon SA/NV, Milan Branch is subject to limited additional regulation by Banca d’Italia - Sede di Milano at Divisione Supervisione Banche, Via Cordusio no. 5, 20123 Milano, Italy (registration number 03351).

 

The Bank of New York Mellon SA/NV operates in Denmark as The Bank of New York Mellon SA/NV, Copenhagen Branch, filial af The Bank of New York Mellon SA/NV, Belgien, and has its registered office at Tuborg Boulevard 12, 3. DK-2900 Hellerup, Denmark. It is subject to limited additional regulation by the Danish Financial Supervisory Authority (Finanstilsynet, Århusgade 110, 2100 København Ø).

 

The Bank of New York Mellon SA/NV operates in Spain through its Madrid branch with registered office at Calle José Abascal 45, Planta 4ª, 28003, Madrid, and enrolled on the Reg. Mercantil de Madrid, Tomo 41019, folio 185 (M-727448). The Bank of New York Mellon, Sucursal en España is registered with Banco de España (registration number 1573).

 

The Bank of New York Mellon (International) Limited is registered in England & Wales with Company No. 03236121 with its Registered Office at BNY Mellon Centre, 160 Queen Victoria Street, London EC4V 4LA.  The Bank of New York Mellon (International) Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.

 

Regulatory information in relation to the above BNY Mellon entities operating out of Europe can be accessed at the following website: https://www.bnymellon.com/RID.

 

For clients located in Switzerland: The information provided herein does not constitute an offer of financial instrument or an offer to provide financial service in Switzerland pursuant to or within the meaning of the Swiss Financial Services Act ("FinSA") and its implementing ordinance. This is solely an advertisement pursuant to or within the meaning of FinSA and its implementing ordinance. Please be informed that The Bank of New York Mellon and The Bank of New York Mellon SA/NV are entering into the OTC derivative transactions as a counterparty, i.e. acting for its own account or for the account of one of its affiliates. As a result, where you enter into any OTC derivative transactions with us, you will not be considered a "client" (within the meaning of the FinSA) and you will not benefit from the protections otherwise afforded to clients under FinSA.

 

BNY Mellon Saudi Financial Company is licensed and regulated by the Capital Market Authority, License number 20211-04, located in Alfaisaliah Tower, 18th Floor, King Fahad Road, P.O. Box 99936 Riyadh 11625, Kingdom of Saudi Arabia.

 

The Bank of New York Mellon, Singapore Branch, is subject to regulation by the Monetary Authority of Singapore. For recipients of this information located in Singapore: This material has not been reviewed by the Monetary Authority of Singapore.

 

The Bank of New York Mellon, Hong Kong Branch (a branch of a banking corporation organized and existing under the laws of the State of New York with limited liability), is subject to regulation by the Hong Kong Monetary Authority and the Securities & Futures Commission of Hong Kong.

 

The Bank of New York Mellon, Seoul Branch, is a licensed foreign bank branch in Korea and regulated by  the Financial Services Commission and the Financial Supervisory Service. The Bank of New York Mellon, Seoul Branch, is subject to local regulation (e.g. the Banking Act, the Financial Investment Services and Capital Market Act, and the Foreign Exchange Transactions Act etc.). 

 

The Bank of New York Mellon is regulated by the Australian Prudential Regulation Authority and also holds an Australian Financial Services Licence No. 527917 issued by the Australian Securities and Investments Commission to provide financial services to wholesale clients in Australia.

 

The Bank of New York Mellon has various other branches in the Asia-Pacific Region which are subject to regulation by the relevant local regulator in that jurisdiction.

 

The Bank of New York Mellon, Tokyo Branch, is a licensed foreign bank branch in Japan and regulated by the Financial Services Agency of Japan.  The Bank of New York Mellon Trust (Japan), Ltd., is a licensed trust bank in Japan and regulated by the Financial Services Agency of Japan.  The Bank of New York Mellon Securities Company Japan Ltd., is a registered type 1 financial instruments business operator in Japan and regulated by the Financial Services Agency of Japan.

 

The Bank of New York Mellon, DIFC Branch, regulated by the Dubai Financial Services Authority (DFSA) and located at DIFC, The Exchange Building 5 North, Level 6, Room 601, P.O. Box 506723, Dubai, UAE, on behalf of The Bank of New York Mellon, which is a wholly-owned subsidiary of The Bank of New York Mellon Corporation.

 

Past performance is not a guide to future performance of any instrument, transaction or financial structure and a loss of original capital may occur. Calls and communications with BNY Mellon may be recorded, for regulatory and other reasons.

 

Disclosures in relation to certain other BNY Mellon group entities can be accessed at the following website:  https://www.bnymellon.com/emea/en/disclaimers/eu-disclosures.html.

 

This document and the statements contained herein, are not an offer or solicitation to buy or sell any products (including financial products) or services or to participate in any particular strategy mentioned and should not be construed as such. This material is intended for wholesale/professional clients (or the equivalent only), is not intended for use by retail clients and no other person should act upon it. Persons who do not have professional experience in matters relating to investments should not rely on this material. BNY Mellon will only provide the relevant investment services to investment professionals.

 

Not all products and services are offered in all countries.

 

If distributed in the UK, this material is a financial promotion. If distributed in the EU, this material is a marketing communication.

 

This material, which may be considered advertising, is for general information purposes only and is not intended to provide legal, tax, accounting, investment, financial or other professional advice on any matter. This material does not constitute a recommendation or advice by BNY Mellon of any kind. Use of our products and services is subject to various regulations and regulatory oversight. You should discuss this material with appropriate advisors in the context of your circumstances before acting in any manner on this material or agreeing to use any of the referenced products or services and make your own independent assessment (based on such advice) as to whether the referenced products or services are appropriate or suitable for you. This material may not be comprehensive or up to date and there is no undertaking as to the accuracy, timeliness, completeness or fitness for a particular purpose of information given. BNY Mellon will not be responsible for updating any information contained within this material and opinions and information contained herein are subject to change without notice. BNY Mellon assumes no direct or consequential liability for any errors in or reliance upon this material.

 

This material may not be distributed or used for the purpose of providing any referenced products or services or making any offers or solicitations in any jurisdiction or in any circumstances in which such products, services, offers or solicitations are unlawful or not authorized, or where there would be, by virtue of such distribution, new or additional registration requirements.

 

Any references to dollars are to US dollars unless specified otherwise.

 

This material may not be reproduced or disseminated in any form without the prior written permission of BNY Mellon. Trademarks, logos and other intellectual property marks belong to their respective owners. 

 

The Bank of New York Mellon, member of the Federal Deposit Insurance Corporation (FDIC).

 

© 2023 The Bank of New York Mellon Corporation. All rights reserved. 

 

 

 

Clearance & Collateral Management

 

Disclosures & Disclaimers

 

BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation and may be used as a generic term to reference the corporation as a whole and/or its various group entities. This material and any products and services may be issued or provided under various brand names of BNY Mellon in various countries by duly authorized and regulated subsidiaries, affiliates, and joint ventures of BNY Mellon, which may include any of those listed below:

 

The Bank of New York Mellon, a banking corporation organized pursuant to the laws of the State of New York, whose registered office is at 240 Greenwich St, NY, NY 10286, USA. The Bank of New York Mellon is supervised and regulated by the New York State Department of Financial Services and the US Federal Reserve and is authorized by the Prudential Regulation Authority (“PRA”) (Firm Reference Number: 122467).

 

The Bank of New York Mellon operates in the UK through its London branch (UK companies house numbers FC005522 and BR000818) at 160 Queen Victoria Street, London, EC4V 4LA and is subject to regulation by the Financial Conduct Authority (“FCA”) at 12 Endeavour Square, London, E20 1JN and limited regulation by the PRA at Bank of England, Threadneedle St, London, EC2R 8AH. Details about the extent of our regulation by the PRA are available from us on request.

 

The Bank of New York Mellon operates in Germany through its Frankfurt am Main branch (registered in Germany with Registration No. HRB 12731) at Friedrich-Ebert-Anlage 49, 60327 Frankfurt am Main, Germany. It is under the supervision of the German Central Bank and the Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht, Marie-Curie-Str. 24-28, 60439 Frankfurt, Germany) under registration number 10100253.

 

The Bank of New York Mellon SA/NV, a Belgian limited liability company, registered in the RPM Brussels with company number 0806.743.159, whose registered office is at Boulevard Anspachlaan 1, B-1000 Brussels, Belgium, authorized and regulated as a significant credit institution by the European Central Bank (“ECB”) at Sonnemannstrasse 20, 60314 Frankfurt am Main, Germany, and the National Bank of Belgium (“NBB”) at Boulevard de Berlaimont/de Berlaimontlaan 14, 1000 Brussels, Belgium, under the Single Supervisory Mechanism and by the Belgian Financial Services and Markets Authority (“FSMA”) at Rue du Congrès/Congresstraat 12-14, 1000 Brussels, Belgium for conduct of business rules, and is a subsidiary of The Bank of New York Mellon.

 

The Bank of New York Mellon SA/NV operates in Ireland through its Dublin branch at Riverside II, Sir John Rogerson's Quay Grand Canal Dock, Dublin 2, D02KV60, Ireland and is registered with the Companies Registration Office in Ireland No. 907126 & with VAT No. IE 9578054E. The Bank of New York Mellon SA/NV, Dublin Branch is subject to limited additional regulation by the Central Bank of Ireland at New Wapping Street, North Wall Quay, Dublin 1, D01 F7X3, Ireland for conduct of business rules and registered with the Companies Registration Office in Ireland No. 907126 & with VAT No. IE 9578054E.

 

The Bank of New York Mellon SA/NV operates in Germany through its Frankfurt branch “The Bank of New York Mellon SA/NV, Asset Servicing, Niederlassung Frankfurt am Main”, and has its registered office at MesseTurm, Friedrich-Ebert-Anlage 49, 60327 Frankfurt am Main, Germany. It is subject to limited additional supervision by the Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht, Marie-Curie-Str. 24-28, 60439 Frankfurt, Germany) under registration number 122721.

 

The Bank of New York Mellon SA/NV operates in the Netherlands through its Amsterdam branch at Claude Debussylaan 7, 1082 MC Amsterdam, the Netherlands. The Bank of New York Mellon SA/NV, Amsterdam Branch is subject to limited additional supervision by the Dutch Central Bank (“De Nederlandsche Bank” or “DNB”) on integrity issues only (registration number 34363596). DNB holds office at Westeinde 1, 1017 ZN Amsterdam, the Netherlands.

 

 The Bank of New York Mellon SA/NV operates in Luxembourg through its Luxembourg branch at 2-4 rue Eugene Ruppert, Vertigo Building – Polaris, L- 2453, Luxembourg. The Bank of New York Mellon SA/NV, Luxembourg Branch is subject to limited additional regulation by the Commission de Surveillance du Secteur Financier at 283, route d’Arlon, L-1150 Luxembourg for conduct of business rules, and in its role as UCITS/AIF depositary and central administration agent.

 

 The Bank of New York Mellon SA/NV operates in France through its Paris branch at 7 Rue Scribe, Paris, Paris 75009, France. The Bank of New York Mellon SA/NV, Paris Branch is subject to limited additional regulation by Secrétariat Général de l’Autorité de Contrôle Prudentiel at Première Direction du Contrôle de Banques (DCB 1), Service 2, 61, Rue Taitbout, 75436 Paris Cedex 09, France (registration number (SIREN) Nr. 538 228 420 RCS Paris - CIB 13733).

 

The Bank of New York Mellon SA/NV operates in Italy through its Milan branch at Via Mike Bongiorno no. 13, Diamantino building, 5th floor, Milan, 20124, Italy. The Bank of New York Mellon SA/NV, Milan Branch is subject to limited additional regulation by Banca d’Italia - Sede di Milano at Divisione Supervisione Banche, Via Cordusio no. 5, 20123 Milano, Italy (registration number 03351).

 

The Bank of New York Mellon SA/NV operates in Denmark as The Bank of New York Mellon SA/NV, Copenhagen Branch, filial af The Bank of New York Mellon SA/NV, Belgien, and has its registered office at Tuborg Boulevard 12, 3. DK-2900Hellerup, Denmark. It is subject to limited additional regulation by the Danish Financial Supervisory Authority (Finanstilsynet, Århusgade 110, 2100 København Ø).

 

The Bank of New York Mellon SA/NV operates in Spain through its Madrid branch with registered office at Calle José Abascal 45, Planta 4ª, 28003, Madrid, and enrolled on the Reg. Mercantil de Madrid, Tomo 41019, folio 185 (M-727448). The Bank of New York Mellon, Sucursal en España is    registered with Banco de España (registration number 1573).

 

Regulatory information in relation to the above BNY Mellon entities operating out of Europe can be accessed at the following website: https://www.bnymellon.com/RID.

 

The Bank of New York Mellon SA/NV is not an “authorised person” in the UK under the Act. Please note that the individual with whom you are communicating, has the authority to issue communications on behalf of more than one entity within The Bank of New York Mellon Corporation group of entities, and may not be employed by The Bank of New York Mellon SA/NV. Please consult an authorised person if in doubt. The communication is not covered by UK regulatory regime protections.

 

This communication is exempt from the general restriction in Section 21 of the Act on the communication of invitations or inducements to engage in investment activity on the grounds that it is being issued to and/or directed at only the types of person referred to above.

 

The content of this communication has not been approved by an authorised person and such approval is, save where this communication is directed at or issued to the types of person referred to above, required by Section 21 of the Act.

 

The Bank of New York Mellon SA/NV is not providing any facilitation or arranging services to you in connection with products/services referenced in this communication.

 

Any contractual terms will be subject to approval by The Bank of New York Mellon SA/NV.

 

The information provided herein does not constitute an offer of financial instrument or an offer to provide financial service in Switzerland pursuant to or within the meaning of the Swiss Financial Services Act ("FinSA") and its implementing ordinance. This is solely an advertisement pursuant to or within the meaning of FinSA and its implementing ordinance.] This contains an advertisement pursuant to or within the meaning of FinSA and its implementing ordinance. Please be informed that The Bank of New York Mellon and The Bank of New York Mellon SA/NV are entering into the OTC derivative transactions as a counterparty, i.e. acting for their own account or for the account of one of their affiliates. As a result, where you enter into any OTC derivative transactions with us, you will not be considered a "client" (within the meaning of the FinSA) and you will not benefit from the protections otherwise afforded to clients under FinSA. Accordingly, this should not be considered an advertisement pursuant to or within the meaning of FinSA and its implementing ordinance.]

 

The Bank of New York Mellon, Singapore Branch, is subject to regulation by the Monetary Authority of Singapore. The Bank of New York Mellon, Hong Kong Branch (a branch of a banking corporation organized and existing under the laws of the State of New York with limited liability), is subject to regulation by the Hong Kong Monetary Authority and the Securities & Futures Commission of Hong Kong.

 

For recipients of this information located in Singapore: This material has not been reviewed by the Monetary Authority of Singapore.

 

The Bank of New York Mellon is regulated by the Australian Prudential Regulation Authority and also holds an Australian Financial Services Licence No. 527917 issued by the Australian Securities and Investments Commission to provide financial services to wholesale clients in Australia.

 

The Bank of New York Mellon has various other subsidiaries, affiliates, branches and representative office in the Asia-Pacific Region which are subject to regulation by the relevant local regulator in that jurisdiction. The Bank of New York Mellon, Tokyo Branch, is a licensed foreign bank branch in Japan and regulated by the Financial Services Agency of Japan. The Bank of New York Mellon Securities Company Japan Ltd. is a registered type 1 financial instruments business operator in Japan and regulated by the Financial Services Agency of Japan.

 

The Bank of New York Mellon, DIFC Branch, regulated by the Dubai Financial Services Authority (“DFSA”) and located at DIFC, The Exchange Building 5 North, Level 6, Room 601, P.O. Box 506723, Dubai, UAE, on behalf of The Bank of New York Mellon, which is a wholly-owned subsidiary of The Bank of New York Mellon Corporation.

 

Past performance is not a guide to future performance of any instrument, transaction or financial structure and a loss of original capital may occur. Calls and communications with BNY Mellon may be recorded, for regulatory and other reasons.

 

Disclosures in relation to certain other BNY Mellon group entities can be accessed at the following website: http://disclaimer.bnymellon.com/eu.htm.

 

This material is intended for wholesale/professional clients (or the equivalent only), is not intended for use by retail clients and no other person should act upon it. Persons who do not have professional experience in matters relating to investments should not rely on this material. BNY Mellon will only provide the relevant investment services to investment professionals.

 

Not all products and services are offered in all countries.

 

If distributed in the UK, this material is a financial promotion. If distributed in the EU, this material is a marketing communication.

 

This material, which may be considered advertising (but shall not be considered advertising under the laws and regulations of Brunei, Malaysia or Singapore), is for general information purposes only and is not intended to provide legal, tax, accounting, investment, financial or other professional advice on any matter. This material does not constitute a recommendation or advice by BNY Mellon of any kind. Use of our products and services is subject to various regulations and regulatory oversight. You should discuss this material with appropriate advisors in the context of your circumstances before acting in any manner on this material or agreeing to use any of the referenced products or services and make your own independent assessment (based on such advice) as to whether the referenced products or services are appropriate or suitable for you.

 

This material may not be comprehensive or up to date and there is no undertaking as to the accuracy, timeliness, completeness or fitness for a particular purpose of information given. BNY Mellon will not be responsible for updating any information contained within this material and opinions and information contained herein are subject to change without notice. BNY Mellon assumes no direct or consequential liability for any errors in or reliance upon this material.

 

This material may not be distributed or used for the purpose of providing any referenced products or services or making any offers or solicitations in any jurisdiction or in any circumstances in which such products, services, offers or solicitations are unlawful or not authorized, or where there would be, by virtue of such distribution, new or additional registration requirements.

 

Any references to dollars are to US dollars unless specified otherwise.

 

This material may not be reproduced or disseminated in any form without the prior written permission of BNY Mellon. Trademarks, logos and other intellectual property marks belong to their respective owners.

 

The Bank of New York Mellon, member of the Federal Deposit Insurance Corporation (“FDIC”).

 

© 2023 The Bank of New York Mellon Corporation. All rights reserved.

Future First

 

2021 Enterprise ESG Report Disclosure

 

Forward-Looking Statements

We have included in this report statements that may constitute “forward-looking statements.” Forward-looking statements are not historical facts or statements of current conditions, but instead represent only our beliefs regarding future events, many of which, by their nature, are inherently uncertain and outside our control. These statements are not guarantees of future results or performance and involve certain known and unknown risks, uncertainties and assumptions that are difficult to predict and are often beyond our control. These statements relate to, among other things, our goals, targets, aspirations, strategy, plans, intentions and objectives, and actual outcomes and results may differ materially from those expressed in, or implied by, any of these forward-looking statements. Factors that could cause our outcomes and results to differ from the forward-looking statements include global socio-demographic and economic trends, energy prices, technological innovations, climate-related conditions and weather events, our ability to gather and verify data regarding environmental impacts, our ability to successfully implement various initiatives throughout the company under expected timeframes, the compliance of various third parties with our policies and procedures, legislative and regulatory changes, and other unforeseen events or conditions. In addition, important factors that generally affect our business and operations can be found under “Risk Factors” in Part I, Item 1A of our Annual Report on Form 10-K for the year ended December 31, 2021, and in subsequent reports filed with the Securities and Exchange Commission (SEC).

Certain disclosures included in this report are being provided in connection with our application of guidelines and recommendations of the Global Reporting Initiative, the UN Global Compact, the Task Force on Climate-related Financial Disclosures and others. Our approach to the disclosures included in this report differs from our approach to the disclosures we include in our mandatory regulatory reports, including our filings with the SEC. While certain matters discussed in this report may be significant, any significance should not be read as necessarily rising to the level of materiality used for the purposes of complying with the U.S. federal securities laws and regulations, even if we use the word “material” or “materiality” in this report. This report is intended to provide information from a different perspective and in more detail than that required to be included in other regulatory reports, including our filings with the SEC.

All forward-looking statements speak only as of the date on which such statements are made, and BNY Mellon undertakes no obligation to update any statement to reflect events or circumstances after the date on which such forward-looking statement is made or to reflect the occurrence of unanticipated events.

Legal Notices and Disclosures

BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation and may be used to reference the corporation as a whole and/or its various subsidiaries generally. This material does not constitute a recommendation by BNY Mellon of any kind. The information herein is not intended to provide tax, legal, investment, accounting, financial or other professional advice on any matter, and should not be used or relied upon as such. The views expressed within this material are those of the contributors and not necessarily those of BNY Mellon. BNY Mellon has not independently verified the information contained in this material and makes no representation as to the accuracy, completeness, timeliness, merchantability or fitness for a specific purpose of the information provided in this material. BNY Mellon assumes no direct or consequential liability for any errors in or reliance upon this material.

This material may not be reproduced or disseminated in any form without the express prior written permission of BNY Mellon. BNY Mellon will not be responsible for updating any information contained within this material and opinions and information contained herein are subject to change without notice. Trademarks, service marks, logos and other intellectual property marks belong to their respective owners.

BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation and may be used as a generic term to reference the corporation as a whole and/or its various group entities. This material and any products and services may be issued or provided under various brand names of BNY Mellon in various countries by duly authorized and regulated subsidiaries, affiliates, and joint ventures of BNY Mellon, which may include any of those listed below:

The Bank of New York Mellon, a banking corporation organized pursuant to the laws of the State of New York, whose registered office is at 240 Greenwich St, NY, NY 10286, USA. The Bank of New York Mellon is supervised and regulated by the New York State Department of Financial Services and the US Federal Reserve and is authorized by the Prudential Regulation Authority (“PRA”) (Firm Reference Number: 122467).

The Bank of New York Mellon operates in the UK through its London branch (UK companies house numbers FC005522 and BR000818) at 160 Queen Victoria Street, London, EC4V 4LA and is subject to regulation by the Financial Conduct Authority (“FCA”) at 12 Endeavour Square, London, E20 1JN, UK and limited regulation by the PRA at Bank of England, Threadneedle St, London, EC2R 8AH, UK. Details about the extent of our regulation by the PRA are available from us on request.

The Bank of New York Mellon SA/NV, a Belgian limited liability company, registered in the RPM Brussels with company number 0806.743.159, whose registered office is at 46 Rue Montoyerstraat, B-1000 Brussels, Belgium, authorized and regulated as a significant credit institution by the European Central Bank (“ECB”) at Sonnemannstrasse 20, 60314 Frankfurt am Main, Germany, and the National Bank of Belgium (“NBB”) at Boulevard de Berlaimont/de Berlaimontlaan 14, 1000 Brussels, Belgium, under the Single Supervisory Mechanism and by the Belgian Financial Services and Markets Authority (FSMA) at Rue du Congrès/Congresstraat 12-14, 1000 Brussels, Belgium for conduct of business rules, and is a subsidiary of The Bank of New York Mellon.

The Bank of New York Mellon SA/NV operates in Ireland through its Dublin branch at Riverside II, Sir John Rogerson's Quay Grand Canal Dock, Dublin 2, D02KV60, Ireland and is registered with the Companies Registration Office in Ireland No. 907126 & with VAT No. IE 9578054E. The Bank of New York Mellon SA/NV, Dublin Branch is subject to limited additional regulation by the Central Bank of Ireland at New Wapping Street, North Wall Quay, Dublin 1, D01 F7X3, Ireland for conduct of business rules and registered with the Companies Registration Office in Ireland No. 907126 & with VAT No. IE 9578054E.

The Bank of New York Mellon SA/NV is trading in Germany through its Frankfurt branch “The Bank of New York Mellon SA/NV, Asset Servicing, Niederlassung Frankfurt am Main”, and has its registered office at MesseTurm, Friedrich-Ebert-Anlage 49, 60327 Frankfurt am Main, Germany. It is subject to limited additional supervision by the Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht, Marie-Curie-Str. 24-28, 60439 Frankfurt, Germany) under registration number 122721.

The Bank of New York Mellon SA/NV operates in the Netherlands through its Amsterdam branch at Claude Debussylaan 7, 1082 MC Amsterdam, the Netherlands. The Bank of New York Mellon SA/NV, Amsterdam Branch is subject to limited additional supervision by the Dutch Central Bank (“De Nederlandsche Bank” or “DNB”) on integrity issues only (registration number 34363596). DNB holds office at Westeinde 1, 1017 ZN Amsterdam, the Netherlands.

The Bank of New York Mellon SA/NV operates in Luxembourg through its Luxembourg branch at 2-4 rue Eugene Ruppert, Vertigo Building – Polaris, L- 2453, Luxembourg. The Bank of New York Mellon SA/NV, Luxembourg Branch is subject to limited additional regulation by the Commission de Surveillance du Secteur Financier at 283, route d’Arlon, L-1150 Luxembourg for conduct of business rules, and in its role as UCITS/AIF depositary and central administration agent.

The Bank of New York Mellon SA/NV operates in France through its Paris branch at 7 Rue Scribe, Paris, Paris 75009, France. The Bank of New York Mellon SA/NV, Paris Branch is subject to limitted additional regulation by Secrétariat Général de l’Autorité de Contrôle Prudentiel at Première Direction du Contrôle de Banques (DCB 1), Service 2, 61, Rue Taitbout, 75436 Paris Cedex 09, France (registration number (SIREN) Nr. 538 228 420 RCS Paris - CIB 13733).

The Bank of New York Mellon SA/NV operates in Italy through its Milan branch at Via Mike Bongiorno no. 13, Diamantino building, 5th floor, Milan, 20124, Italy. The Bank of New York Mellon SA/NV, Milan Branch is subject to limiteed additional regulation by Banca d’Italia - Sede di Milano at Divisione Supervisione Banche, Via Cordusio no. 5, 20123 Milano, Italy (registration number 03351).

The Bank of New York Mellon SA/NV operates in Denmark as The Bank of New York Mellon SA/NV, Copenhagen Branch, filial af The Bank of New York Mellon SA/NV, Belgien, and has its registered office at Strandvejen 60/5, 2900 Hellerup, Denmark. It is subject to limited additional regulation by the Danish Financial Supervisory Authority (Finanstilsynet, Århusgade 110, 2100 København Ø).

The Bank of New York Mellon SA/NV operates in England through its London branch at 160 Queen Victoria Street, London EC4V 4LA, UK, registered in England and Wales with numbers FC029379 and BR014361. The Bank of New York Mellon SA/NV, London branch is authorized by the ECB (address above) and subject to limited regulation by the FCA (address above) and the PRA (address above).

Regulatory information in relation to the above BNY Mellon entities operating out of Europe can be accessed at the following website: https://www.bnymellon.com/RID.

The Bank of New York Mellon, Singapore Branch, is subject to regulation by the Monetary Authority of Singapore. For recipients of this information located in Singapore: This material has not been reviewed by the Monetary Authority of Singapore. The Bank of New York Mellon, Hong Kong Branch [(a branch of a banking corporation organized and existing under the laws of the State of New York with limited liability)], is subject to regulation by the Hong Kong Monetary Authority and the Securities & Futures Commission of Hong Kong. The Bank of New York Mellon, Seoul Branch is subject to regulation by the Financial Services Commission, the Financial Supervisory Service and The Bank of Korea. BNY Mellon in Japan is subject to regulation by the Financial Services Agency of Japan.

For clients located in Australia
The Bank of New York Mellon is exempt from the requirement to hold, and does not hold, an Australian financial services license as issued by the Australian Securities and Investments Commission under the Corporations Act 2001 (Cth) in respect of the financial services provided by it to persons in Australia. The Bank of New York Mellon is regulated by the New York State Department of Financial Services and the US Federal Reserve under Chapter 2 of the Consolidated Laws, The Banking Law enacted April 16, 1914 in the State of New York, which differs from Australian laws.

The Bank of New York Mellon has various other branches in the Asia-Pacific Region which are subject to regulation by the relevant local regulator in that jurisdiction.

The Bank of New York Mellon Securities Company Japan Ltd, as intermediary for The Bank of New York Mellon.

The Bank of New York Mellon, DIFC Branch, regulated by the Dubai Financial Services Authority (“DFSA”) and located at DIFC, The Exchange Building 5 North, Level 6, Room 601, P.O. Box 506723, Dubai, UAE, on behalf of The Bank of New York Mellon, which is a wholly-owned subsidiary of The Bank of New York Mellon Corporation.

Disclosures in relation to certain other BNY Mellon group entities can be accessed at the following website: http://disclaimer.bnymellon.com/eu.htm.

BNY Mellon Investment Management is one of the world’s leading investment management organizations and one of the top U.S. wealth managers, encompassing BNY Mellon’s affiliated investment management firms and global distribution companies. Products and services may be provided under various brand names and in various countries by subsidiaries, affiliates and joint ventures of The Bank of New York Mellon Corporation where authorized and regulated as required within each jurisdiction.

The investment products and services mentioned in this material are not insured by the FDIC (or any other state or federal agency), are not deposits of or guaranteed by any bank, and may lose value.

Alcentra Limited, Insight Investment International Limited, Newton Investment Management Limited and Walter Scott & Partners Limited are authorized and regulated by the Financial Conduct Authority.

Alcentra NY, LLC, BNY Mellon Investment Advisers, Inc., Insight Investment International Limited, Insight North America LLC, Mellon Investments Corporation, Newton Investment Management Limited, Newton Investment Management North America LLC and Walter Scott & Partners Limited are SEC registered investment advisers.

The Alcentra Group refers to the affiliated companies Alcentra, Ltd and Alcentra NY, LLC. AUM includes assets managed by both companies. Assets under management reflect assets of all accounts and portions of accounts managed by Alcentra for Alcentra and its affiliates.

ARX is the brand used to describe the Brazilian investment capabilities of BNY Mellon ARX Investimentos Ltda.

Dreyfus is a division of Mellon Investments Corporation (MIC) and BNY Mellon Investment Adviser, Inc. (BNYMIA). When managing Dreyfus money market mutual funds, Dreyfus personnel act in their capacity as dual employees of BNYMIA, the funds' investment adviser, and members of its Dreyfus division.

Insight Investment's investment advisory services in North America are provided through two different investment advisers registered with the SEC, using the brand Insight Investment: Insight North America LLC and Insight Investment International Limited. The North American investment advisers are associated with other global investment managers that also (individually and collectively) use the corporate brand Insight Investment and may be referred to as ‘Insight’ or ‘Insight Investment’.

The Newton Investment Management Group describes a group of affiliated companies that provide investment advisory services under the brand name “Newton” or “Newton Investment Management.” Those companies include Newton Investment Management Ltd. and Newton Investment Management North America LLC.

BNY Mellon owns a 20% interest in Siguler Guff & Company, LP and certain related entities (including Siguler Guff Advisers, LLC).

All investments involve risk including loss of principal. Past performance is not a guide to future performance of any instrument, transaction, strategy, or financial structure. Certain investments involve greater or unique risks that should be considered along with the objectives, fees, and expenses before investing. Calls and communications with BNY Mellon may be recorded, for regulatory and other reasons.

This material is intended for wholesale/professional clients (or the equivalent), is not intended for use by retail clients and no other person should act upon it. Persons who do not have professional experience in matters relating to investments should not rely on this material. BNY Mellon will only provide the relevant investment services to investment professionals.

Not all products and services are offered in all countries.

If distributed in the UK, this material is a financial promotion. If distributed in the EU, this material is a marketing communication.

This material, which may be considered advertising, is for general information purposes only and is not intended to provide legal, tax, accounting, investment, financial or other professional advice on any matter. This material does not constitute a recommendation or advice by BNY Mellon of any kind. Use of our products and services is subject to various regulations and regulatory oversight. You should discuss this material with appropriate advisors in the context of your circumstances before acting in any manner on this material or agreeing to use any of the referenced products or services and make your own independent assessment (based on such advice) as to whether the referenced products or services are appropriate or suitable for you. This material may not be comprehensive or up to date and there is no undertaking as to the accuracy, timeliness, completeness or fitness for a particular purpose of information given.

Some information contained in this report has been obtained from third-party sources and has not been independently verified by BNY Mellon. Information contained in this report may not be comprehensive or up-to-date and is subject to change without notice. BNY Mellon will not be responsible for updating any information in this report and opinions and information contained herein are subject to change without notice. BNY Mellon assumes no direct or consequential liability for any errors in or reliance upon this material.

This material may not be distributed or used for the purpose of providing any referenced products, services, or any security or an endorsement thereof or making any offers or solicitations in any jurisdiction or in any circumstances in which such products, services, offers or solicitations are unlawful or not authorized, or where there would be, by virtue of such distribution, new or additional registration requirements.

Any references to dollars are to US dollars unless specified otherwise.

This material may not be reproduced or disseminated in any form without the prior written permission of BNY Mellon. Trademarks, service marks, logos and other intellectual property marks belong to their respective owners.

The Bank of New York Mellon, member of the Federal Deposit Insurance Corporation (“FDIC”).

© 2022 The Bank of New York Mellon Corporation. All rights reserved.

 

 

 

BNY Mellon Markets

 

Product-Specific Disclaimers

 

Cross Markets. Money market fund shares are not a deposit or obligation of BNY Mellon.  Investments in money market funds are not insured, guaranteed, recommended or otherwise endorsed in any way by BNY Mellon, the Federal Deposit Insurance Corporation or any other government agency.  Securities instruments and services other than money market mutual funds and off-shore liquidity funds are offered by BNY Mellon Capital Markets, LLC and The Bank of New York Mellon, London Branch.

 

The terms of any products or services provided by BNY Mellon to a client, including without limitation any administrative, valuation, trade execution or other services shall be solely determined by the definitive agreement relating to such products or services. Any products or services provided by BNY Mellon shall not be deemed to have been provided as fiduciary or adviser except as expressly provided in such definitive agreement. BNY Mellon may enter into a foreign exchange transaction, derivative transaction or collateral arrangement as a counterparty to a client, and its rights as counterparty or secured party under the applicable transactional agreement or collateral arrangement shall take precedence over any obligation it may have as fiduciary or adviser or as service provider under any other agreement.

 

Investment in any floating rate instrument presents unique risks, including the discontinuation of the floating rate reference or any successors or fallbacks thereto. BNY Mellon does not guarantee and is not responsible for the availability or continued existence of a floating rate reference associated with any particular instrument. Before investing in any floating rate instrument, please evaluate the risks independently with your financial, tax and other advisors as you deem necessary.

 

Pursuant to Title VII of The Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 and the applicable rules thereunder, The Bank of New York Mellon is registered as a swap dealer with the Commodity Futures Trading Commission and is a swap dealer member of the National Futures Association (NFA ID 0420990) and is conditionally registered as a security-based swap dealer with the Securities Exchange Commission. 

 

BNY Mellon (including its broker-dealer affiliates) may have long or short positions in any currency, derivative or instrument discussed herein. BNY Mellon has included data in this material from information generally available to the public from sources believed to be reliable. Any price or other data used for illustrative purposes may not reflect actual current conditions. No representations or warranties are made, and BNY Mellon assumes no liability, as to the suitability of any products and services described herein for any particular purpose or the accuracy or completeness of any information or data contained in this material.  Price and other data are subject to change at any time without notice.

 

Pershing Prime Services is a service of Pershing LLC, member FINRA, NYSE, SIPC, a wholly owned subsidiary of The Bank of New York Mellon Corporation (“BNY Mellon”).  Member of SIPC. Securities in your account protected up to $500,000. For details, please see www.sipc.org.

 

 

FOREIGN EXCHANGE

 

Pursuant to Title VII of The Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 and the applicable rules thereunder, The Bank of New York Mellon is registered as a swap dealer with the Commodity Futures Trading Commission and is a swap dealer member of the National Futures Association (NFA ID 0420990).

 

BNY Mellon (including its broker-dealer affiliates) may have long or short positions in any currency, derivative or instrument discussed herein. BNY Mellon has included data in this material from information generally available to the public from sources believed to be reliable. Any price or other data used for illustrative purposes may not reflect actual current conditions. No representations or warranties are made, and BNY Mellon assumes no liability, as to the suitability of any products and services described herein for any particular purpose or the accuracy or completeness of any information or data contained in this material.  Price and other data are subject to change at any time without notice.

 

The Bank of New York Mellon SA/NV only provides its services outside of Hong Kong. Any transactions that are intermediated by The Bank of New York Mellon, Hong Kong Branch are carried on through The Bank of New York Mellon, Hong Kong Branch in compliance with the “dealing through” (or other) exemption, and not directly by The Bank of New York Mellon SA/NV.

 

Investment in any floating rate instrument presents unique risks, including the discontinuation of the floating rate reference or any successors or fallbacks thereto. BNY Mellon does not guarantee and is not responsible for the availability or continued existence of a floating rate reference associated with any particular instrument. Before investing in any floating rate instrument, please evaluate the risks independently with your financial, tax and other advisors as you deem necessary.

 

Interest and/or FX Rates:

Neither BNY Mellon nor any other third party provider shall be liable for any errors in or delays in providing or making available the data (including rates, WM/Refinitiv Intra-Day Spot Rates and WM/Refinitiv Intra-Day Forward Rates) contained within this service or for any actions taken in reliance on the same, except to the extent that the same is directly caused by its or its employees’ negligence. The WM/Refinitiv Intra-Day Spot Rates and WM/Refinitiv Intra-Day Forward Rates are provided by Refinitiv Benchmark Services Limited (“RBSL”). RBSL shall not be liable for any errors in or delays in providing or making available the data contained within this service or for any actions taken in reliance on the same, except to the extent that the same is directly caused by its or its employees’ negligence.

 

 

iFlow® / FX MARKET COMMENTARY

 

The products and services described herein may contain or include certain “forecast” statements that may reflect possible future events based on current expectations. Forecast statements are neither historical facts nor assurances of future performance. Forecast statements typically include, and are not limited to, words such as “anticipate”, “believe”, “estimate”, “expect”, “future”, “intend”, “likely”, “may”, “plan”, “project”, “should”, “will”, or other similar terminology and should NOT be relied upon as accurate indications of future performance or events. Because forecast statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict.

 

iFlow® is a registered trademark of The Bank of New York Mellon Corporation under the laws of the United States of America and other countries. iFlow captures select data flows from the firm’s base of assets under custody, as well as from its trading activity with non-custody clients, on an anonymized and aggregated basis.

 

This document is intended for private circulation.  Persons accessing, or reading, this material are required to inform themselves about and to observe any restrictions that apply to the distribution of this information in their jurisdiction.

 

 

FX OVERLAY / CURRENCY ADMINISTRATION

 

FX Overlay is provided under and subject to the terms of a definitive agreement between BNY Mellon and the client. BNY Mellon exercises no investment discretion thereunder, but acts solely pursuant to the instructions in such agreement or otherwise provided by the client. Unless provided by definitive agreement, BNY Mellon is not an agent or fiduciary thereunder, and acts solely as principal in connection with related foreign exchange transactions.

 

 

SECURITIES FINANCE

Agency Securities Lending

 

Neither BNY Mellon nor any of its respective officers, employees or agents are, by virtue of providing the materials or information contained herein, acting as an adviser to any recipient (including a “municipal advisor” within the meaning of Section 15B of the Securities Exchange Act of 1934, as amended, “Section 15B”), do not owe a fiduciary duty to the recipient hereof pursuant to Section 15B or otherwise, and are acting only for their own interests.

 

 

COLLATERAL MANAGEMENT & SEGREGATION

Liquidity DIRECT

 

Money market fund shares are not a deposit or obligation of BNY Mellon.  Investments in money market funds are not insured, guaranteed, recommended or otherwise endorsed in any way by BNY Mellon, the Federal Deposit Insurance Corporation or any other government agency. Although a money market fund seeks to preserve the value of your investment at $1.00 per share, fund shares are subject to investment risk and your investment may lose value. Money market fund yield performance represents past performance, which is no guarantee of future results and investment returns will fluctuate. Before investing, investors should carefully consider the investment objectives, risks, charges, tax impact and expenses of the fund that are explained in each fund’s prospectus. The following factors, among many, could reduce any one fund’s income level and/or share price: interest rates could rise sharply, causing the value of the fund’s investments and its share price to drop; interest rates could drop, thereby reducing the fund’s yield; any of the fund’s holdings could have its credit rating downgraded or could default; and there are risks generally associated with concentrating investments in any one industry. Investments in instruments of non-U.S. issuers are subject to the risks of certain domestic events—such as political upheaval, financial troubles, nationalization (certain assets, entities or sectors) or natural disasters—that may weaken a country’s securities markets. Country risk may be especially high in emerging markets. Such investments may be affected by market risk on a global scale based on responses of certain foreign markets to markets of other countries or global market sectors. Foreign-currency denominated securities are subject to fluctuations in exchange rates that could have an adverse effect on the value or price of, or income derived from, the investment. Investments in foreign instruments are subject to the risk that the value of a foreign investment will decrease because of unfavorable changes in currency exchange rates.

 

Securities instruments and services other than money market mutual funds and off-shore liquidity funds are offered by BNY Mellon Capital Markets, LLC.

BNY Mellon Markets

 

BNY Mellon Capital Markets, LLC

 

BNY Mellon Capital Markets, LLC (“Capital Markets”) is a full service registered broker-dealer and an indirect wholly owned non-bank subsidiary of The Bank of New York Mellon Corporation (“BNY Mellon”). BNY Mellon and its affiliates lend and provide other products and services to issuers and others, and provide and receive related fees and compensation. Capital Markets is a member of FINRA and SIPC, which protects securities customers of its members up to $500,000 (including $250,000 for claims for cash). Explanatory brochure available upon request or at www.sipc.org. SIPC does not protect against loss due to market fluctuation. SIPC protection is not the same as, and should not be confused with, FDIC insurance.

 

This material is for reference purposes only and not intended to be a recommendation with respect to, or solicitation or offer to buy or sell, any particular financial instrument, including but not limited to BNY Mellon stock, or to participate in any particular trading strategy and is not tax, legal, investment or accounting advice. Nor is it an offer or solicitation in any jurisdiction in which such an offer or solicitation would be illegal.   Capital Markets does not make representations as to the actual value to be received in connection with a transaction. Although information is from sources believed reliable, there is no undertaking as to accuracy and opinions and information contained herein are subject to change without notice. Difficulties in the mortgage and broader credit markets have led to a substantial decrease in the availability of credit. The extent and duration of any future continued weakening of U.S. and global credit and financial markets, higher costs of borrowing, and disruptions in debt and equity markets potentially make it more difficult to liquidate an investment, or determine the impact, if any, on the performance and prospects of particular issuers or securities. A client should not enter into any transactions unless it has fully understood all risks and that not all investments will be suitable, and has independently determined that such transactions are appropriate, for the client. Prices may fluctuate and it is possible that such fluctuations may be substantial in response to many factors including, without limitation, general market and market sector conditions, U.S. and global, in addition to company specific conditions. Past performance is not a guide to future performance of any instrument, transaction or financial structure, and a loss of original capital may occur.

 

©2023 BNY Mellon Capital Markets, LLC.  All rights reserved.  Trademarks, service marks and logos are the property of their respective owners.

 

Securities Products: Not FDIC-Insured – Subject to Loss in Value – Not a Deposit of or Guaranteed by a Bank or any Bank Affiliate.

 

DISCLOSURES

• BNY Mellon Capital Markets, LLC Annual Letter to Customers
• BNY Mellon Capital Markets, LLC Business Continuity Planning Disclosure
• BNY Mellon Capital Markets, LLC Privacy Statements and Privacy Notices
• BNY Mellon Capital Markets, LLC Disclosure of Additional General Terms and Conditions

 

FINANCIAL INFORMATION

• BNY Mellon Capital Markets, LLC Business Monthly FOCUS Reports (Rolling 12 months)
  
  
  • September 2023
  • August 2023
  • July 2023
  • June 2023
  • May 2023
  • April 2023
  • March 2023
  • February 2023
  • January 2023
  • December 2022
  • November 2022
  • October 2022

• BNY Mellon Capital Markets, LLC December 31, 2022 Statement of Financial Condition (Audited)
• BNY Mellon Capital Markets, LLC June 2023 Statement of Financial Condition (Unaudited)

 

DISCLOSURES

• SEC Rule 605 - Public Disclosure of Order Execution
• SEC Rule 606 - Quarterly Disclosure of Order Routing
• SEC Rule 605 - Public Disclosure of Order Execution (prior to October 2021)
• SEC Rule 606 - Quarterly Disclosure of Order Routing (prior to December 2021)
• SEC Rule 606 - Quarterly Disclosure of Order Routing (prior to October 2019)

 

 

BNY Mellon Markets

 

BNY Mellon Capital Markets, LLC

 

Product-Specific Disclosures

Fixed Income Securities. Fixed income investments, including municipal bonds, are subject to various risks including changes in interest rates, call features, credit quality, possible default, difficulty in market valuations, liquidity, prepayments, early redemption, tax ramifications, inflation and other factors.

 

Floating Rates. Investment in any floating rate instrument presents unique risks, including the discontinuation of the floating rate reference or any successors or fallbacks thereto. Capital Markets does not guarantee and is not responsible for the availability or continued existence of a floating rate reference associated with any particular instrument. Before investing in any floating rate instrument, please evaluate the risks independently with your financial, tax and other advisors as you deem necessary.

 

Treasury and Government Agency Obligations. Not all obligations of the U.S. government or its agencies and instrumentalities are backed by the full faith and credit of the U.S. Treasury. In addition, if not held to maturity, prices will rise and fall on interest rate movements in response to economic conditions.

 

Corporate Debt.  Corporate debt securities are subject to risks including, but not limited to: early call or redemption risk, reinvestment risk, interest rate risk, credit risk, event risk, sector risk or market risk.

 

Commercial Paper. Commercial paper, an unsecured, short-term debt instrument, is not usually backed by any form of collateral, and although there may be back up lines of credit or back up liquidity, may still be subject to default by the issuer.

 

Certificates of Deposit. Certificates of Deposit are most suitable for holding until maturity. Early withdrawal of any CD may not be available and may be subject to applicable penalties.

 

CDs: Limits on FDIC insurance. If you have or will have money on deposit (such as a savings account) at the same insured institution that issues the CDs, the total value of your deposit accounts could exceed the amount of FDIC insurance to which your deposits (including CDs) are entitled.

 

Yankee CDs/No FDIC Insurance. Yankee CDs are not FDIC insured in whole or in part.

 

Money Market Mutual Funds and Ultra Short Bond Funds. Money market funds generally only invest in certain high-quality, short-term investments issued by the U.S. government, U.S. corporations and state and local governments and are subject to strict diversification and maturity standards. Ultra-short bond funds are not subject to these requirements. The net asset value (NAV) of an ultra-short bond fund will fluctuate, while money market funds seek to maintain a stable NAV of $1 per share, although there is no guarantee that they will achieve this goal.

 

Not acting as Municipal Advisor, Financial Advisor or Fiduciary: Capital Markets is providing the information contained in this document for discussion purposes only in anticipation of serving as an Underwriter, Broker-Dealer, CP Dealer or Remarketing Agent to the addressee and is not recommending any action to the addressee.  The primary role of Capital Markets, as Underwriter, is to sell and purchase securities, as applicable, to and from investors, in arm's length commercial transactions; Capital Markets has financial and other interests that differ from those of the addressee.  As such, Capital Markets is not acting as a municipal advisor, financial advisor or fiduciary to the addressee or any other person or entity in connection with the information provided.  The information provided is not intended to be and should not be construed as "advice" within the meaning of Section 15B of the Securities Exchange Act of 1934 or the rules thereunder.  The addressee should consult with its own financial and/or municipal, legal, accounting, tax and other advisors, as applicable, to the extent it deems appropriate.  If the addressee would like a municipal advisor in a transaction that has legal fiduciary duties to the addressee, then the addressee is free to engage a municipal advisor to serve in that capacity.  Notwithstanding the foregoing, Capital Markets is registered as a municipal advisor and may, from time to time, act as a municipal advisor with respect to municipal issuers and their investments.  Issuers should contact their Capital Markets representative to discuss an engagement with Capital Markets as a municipal advisor.

 

Mutual Funds. Before investing in mutual funds, it is important to understand the sales charges, expenses, and management fees that you will be charged, as well as any available volume-based breakpoint discounts, and whether the mutual fund's investment strategy is compatible with your investment objectives.

 

Equity Securities. Prices may fluctuate and it is possible that such fluctuations may be substantial in response to many factors including, without limitation, general market and market sector conditions, U.S. and global, in addition to company specific conditions.  Dividends are not guaranteed and are subject to change or elimination.

 

Exchange-Traded Funds (ETFs). ETFs generally represent an interest in a portfolio of securities and/or commodities, subjecting the investor to a substantial loss in principal and income due to market risk, interest rate risk, liquidity risk, currency exchange risk, and risks specific to a particular sector.

 

Options. Options carry a high level of risk and are not suitable for all investors. An option holder may lose the entire amount paid for the option in a relatively short period of time and an options writer may incur significant loss if the price of the underlying interest declines.

 

Investment Banking and Public Finance. The Company should discuss any financial instrument offering, engagement, or relationship with its own counsel and financial advisors. Capital Markets does not provide tax, legal, or accounting advice, and any information provided by Capital Markets does not include the legal, tax or accounting effects of consummating any transaction.

 

No Tax, Legal or Accounting Advice. Capital Markets does not provide tax, legal, or accounting advice. You should independently and carefully consider whether any information or investment instruments are suitable for your particular investment objectives and financial position and, if you believe it appropriate, seek professional advice, including tax, legal and accounting advice.

 

Past performance is not indicative of nor a guarantee of future performance and a loss of original capital may occur. You should not enter into any transactions unless you have fully understood all risks, that not all investments will be suitable, and you have independently determined that such transactions are appropriate, for you. Investing in securities involves risk, including loss of the principal amount invested. Additional information is provided on FINRA's Web site at https://www.finra.org/investors/learn-to-invest/key-investing-concepts/evaluating-investment-performance.

 

Mortgage Backed Securities (MBS).  Potential issuers of securities should discuss any financial instrument offering, engagement, or relationship with their own counsel and financial advisors.  Beginning in the second half of 2007, difficulties in the mortgage and broader credit markets led to a substantial decrease in the availability of credit.  As a result, U.S., European and global credit and financial markets in general have been, and are, experiencing difficulties.  The extent and duration of any future continued weakening of these markets, higher costs of borrowing, and disruptions in debt and equity markets may potentially make it more difficult to issue a financial instrument, exit an investment or define the impact, if any, on the performance and prospects of particular issuers or securities.  There can be no assurance that any of the governmental or private sector initiatives designed to strengthen the condition of the credit markets will be successful, and there is no way to know the effect that these initiatives will have on the performance of any particular securities or issuers.

Only GNMA is backed by the full faith and credit of the U.S. Government.  Securities issued by Fannie Mae, Freddie Mac and MBS in general have recently experienced volatility and other increased risks due to homeowner defaults and severe problems in the housing market.

 

Structured products are not suitable for all investors. Structured Products are subject to special risks and considerations.  All relevant offering documents including, but not limited to, term sheets and prospectuses should be consulted and understood prior to investing. Investors should understand characteristics, risks, and potential rewards.  Investors should contact their own accounting, tax or legal advisors to review the suitability of any investment.

 

Securities Direct®. Securities Direct® is the registered trademark of The Bank of New York Mellon Corporation.

BNY Mellon Markets

 

Capital Markets EMEA

 

BNY Mellon Markets – Capital Markets EMEA provides brokerage and trading services for fixed income securities to Professional Clients and Eligible Counterparties (in each case as defined in the FCA Rules) through The Bank of New York Mellon, London Branch.

 

Services are provided in the United Kingdom. Not all products and services are offered at all locations.

 

The Bank of New York Mellon is a wholly owned subsidiary of The Bank of New York Mellon Corporation (BNY Mellon).  BNY Mellon and its affiliates lend and provide other products and financial services to issuers and others, and provide and receive related fees and compensation. 

 

The Bank of New York Mellon is a banking corporation organized pursuant to the laws of the State of New York, whose registered office is at 240 Greenwich St, NY, NY 10286, USA. The Bank of New York Mellon is supervised and regulated by the New York State Department of Financial Services and the US Federal Reserve and is authorized by the Prudential Regulation Authority (“PRA”).

 

The Bank of New York Mellon operates in the UK through its London branch (UK Companies House numbers FC005522 and BR000818) at 160 Queen Victoria Street, London, EC4V 4LA and is subject to regulation by the Financial Conduct Authority (“FCA”) at 12 Endeavour Square, London, E20 1JN, UK and limited regulation by the PRA at Bank of England, Threadneedle St, London, EC2R 8AH, UK. Details about the extent of our regulation by the PRA are available from us on request. The Bank of New York Mellon’s Firm Reference Number is 122467.

 

For clients located in Switzerland

The information provided herein does not constitute an offer of financial instrument or an offer to provide financial service in Switzerland pursuant to or within the meaning of the Swiss Financial Services Act ("FinSA") and its implementing ordinance. This is solely an advertisement pursuant to or within the meaning of FinSA and its implementing ordinance.

 

For clients located in Jordan

These materials do not constitute a public offering prospectus under the laws of Jordan.  These materials are intended solely for use on a confidential basis by those persons to whom it is transmitted.  These materials will be transmitted to potential investors in Jordan: (a) upon their request and confirmation that they understand that the contemplated securities have not been approved or licensed by or registered with the Jordan Securities Commission or any other relevant licensing authorities or governmental agencies in Jordan; and (b) on the condition that this document and the information contained herein will not be provided to any person other than the original recipient. These materials are not for general circulation in Jordan and may not be reproduced or used for any other purpose. The investments being marketed through this material have not been meant to be offered, sold or delivered in Jordan. The contemplated securities described in these materials are not intended to be offered, sold or delivered in Jordan.

 

For recipients of this information located in Singapore: This material has not been reviewed by the Monetary Authority of Singapore.

 

The Bank of New York Mellon is regulated by the Australian Prudential Regulation Authority and also holds an Australian Financial Services Licence No. 527917 issued by the Australian Securities and Investments Commission to provide financial services to wholesale clients in Australia.

 

The Bank of New York Mellon has various other subsidiaries, affiliates, branches and representative office in the Asia-Pacific Region which are subject to regulation by the relevant local regulator in that jurisdiction.

 

Pursuant to Title VII of The Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 and the applicable rules thereunder, The Bank of New York Mellon is registered as a swap dealer with the Commodity Futures Trading Commission and is a swap dealer member of the National Futures Association (NFA ID 0420990).

 

This website and the information and any statements contained herein (but shall not be considered advertising under the laws and regulations of Brunei, Malaysia or Singapore) are for general information and reference purposes only.  It is not a recommendation with respect to, or solicitation or offer to buy or sell, any products (including financial products) or services, including but not limited to BNY Mellon stock, or to participate in any particular trading strategy, including in any jurisdiction in which such an offer or solicitation or trading strategy, would be illegal, and should not be construed as such.  The information herein is not intended to provide tax, legal, investment, accounting, financial or other professional advice on any matter, and should not be used or relied upon as such. The contents may not be comprehensive or up to date and there is no undertaking as to the accuracy, timeliness, completeness or fitness for a particular purpose of information given.  The Bank of New York Mellon, London Branch will not be responsible for updating any information contained within this website, and opinions and information contained herein are subject to change without notice.  Neither The Bank of New York Mellon, London Branch nor any BNY Mellon affiliate assumes any direct or consequential liability for any errors in or reliance upon this information, and are not responsible for any third party website or website content (including, without limitation, any advertising appearing therein) which can be accessed through any of the following websites at https://www.bnymellon.com/emea/en/solutions/capital-markets-liquidity-financing.html; https://www.bnymellon.com/emea/en/regulatory-information.html; and https://www.bnymellon.com/us/en/disclaimers/business-disclaimers.html.  The Bank of New York Mellon, London Branch includes links to other websites for information purposes only and makes no representation whatsoever about any such link, website or consent.

 

The Bank of New York Mellon, London Branch does not make any representations as to the actual value to be received in connection with a transaction.  Difficulties in the mortgage and broader credit markets have generally led to a substantial decrease in the availability of credit. The extent and duration of any future continued weakening of U.S. and global credit and financial markets, higher costs of borrowing, and disruptions in debt and equity markets potentially make it more difficult to liquidate an investment, or determine the impact, if any, on the performance and prospects of particular issuers or securities.  A person should not enter into any transactions unless they have fully understood all risks, understands that not all investments will be suitable, and has independently determined (by way of having obtained, where required, its own independent legal, financial, tax and other professional advice), or that such transactions are appropriate.  Prices may fluctuate and it is possible that such fluctuations may be substantial in response to many factors including, without limitation, general market and market sector conditions, U.S. and global, in addition to company specific conditions.  Dividends are not guaranteed and are subject to change or elimination.  There are risks generally associated with foreign investments, such as economic and political developments, seizure or nationalization of deposits, currency limitations, imposition of taxes or other restrictions on the payment of principal and interest.  Make sure you understand all risks before investing in any financial instrument.  Past performance is not a guide to future performance of any instrument, transaction or financial structure, and a loss of original capital may occur.  Calls and communications with The Bank of New York Mellon, London Branch may be recorded, for regulatory and other reasons. 

 

Investment in any floating rate instrument presents unique risks, including the discontinuation of the floating rate reference or any successors or fallbacks thereto. BNY Mellon does not guarantee and is not responsible for the availability or continued existence of a floating rate reference associated with any particular instrument. Before investing in any floating rate instrument, please evaluate the risks independently with your financial, tax and other advisors as you deem necessary.

 

Trademarks and logos belong to their respective owners.  The terms of this disclaimer are subject to English law and to the exclusive jurisdiction of the English courts.

 

The Bank of New York Mellon, member of the Federal Deposit Insurance Corporation (“FDIC”).

 

©2023 The Bank of New York Mellon Corporation. All rights reserved.

Pershing

 

Pershing Disclaimer

Pershing is the umbrella name for Pershing LLC (member FINRA, SIPC and NYSE), Pershing Advisor Solutions (member FINRA and SIPC), Pershing Limited (UK), Pershing Securities Limited (UK), Pershing Securities International Limited (Ireland), Pershing (Channel Islands) Limited, Pershing Securities Canada Limited, Pershing Securities Singapore Private Limited, Pershing Securities Australia Pty. Ltd, and Pershing India Operational Services Pvt Ltd. Pershing business also includes Pershing X, Inc., a technology provider and BNY Mellon Advisors, Inc., an investment adviser registered in the United States under the Investment Advisers Act of 1940.  Pershing LLC is a subsidiary of BNY Mellon.  For all disclosures, visit https://www.pershing.com/disclosures

 

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BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation and may be used as a generic term to reference the corporation as a whole and/or its various subsidiaries generally. This material and any products and services may be issued or provided under various brand names in various countries by duly authorised and regulated subsidiaries, affiliates, and joint ventures of BNY Mellon, which may include any of the following. The Bank of New York Mellon, at 240 Greenwich Street, New York, NY 10286, USA a banking corporation organised pursuant to the laws of the State of New York, and operating in England through its branch at 160 Queen Victoria Street, London, EC4V 4LA, UK,  registered in England and Wales with numbers FC005522 and BR000818. The Bank of New York Mellon is supervised and regulated by the New York State Department of Financial Services and the US Federal Reserve and authorised by the Prudential Regulation Authority. The Bank of New York Mellon, London Branch is subject to regulation by the Financial Conduct Authority and limited regulation by the Prudential Regulation Authority. Details about the extent of our regulation by the Prudential Regulation Authority are available from us on request. The Bank of New York Mellon SA/NV, a Belgian public limited liability company, with company number 0806.743.159, whose registered office is at 46 Rue Montoyerstraat, B-1000 Brussels, Belgium, authorised and regulated as a significant credit institution by the European Central Bank (ECB), under the prudential supervision of the National Bank of Belgium (NBB) and under the supervision of the Belgian Financial Services and Markets Authority (FSMA) for conduct of business rules, and a subsidiary of The Bank of New York Mellon. The Bank of New York Mellon SA/NV operates in England through its branch at 160 Queen Victoria Street, London EC4V 4LA, UK, registered in England and Wales with numbers FC029379 and BR014361.  The Bank of New York Mellon SA/NV (London Branch) is authorised by the ECB and subject to limited regulation by the Financial Conduct Authority and the Prudential Regulation Authority. Details about the extent of our regulation by the Financial Conduct Authority and Prudential Regulation Authority are available from us on request.  The Bank of New York Mellon SA/NV operating in Ireland through its branch at 4th Floor Hanover Building, Windmill Lane, Dublin 2, Ireland trading as The Bank of New York Mellon SA/NV, Dublin Branch, is authorised by the ECB and is registered with the Companies Registration Office in Ireland No. 907126 & with VAT No. IE 9578054E. The Bank of New York Mellon, Singapore Branch, subject to regulation by the Monetary Authority of Singapore. The Bank of New York Mellon, Hong Kong Branch, subject to regulation by the Hong Kong Monetary Authority and the Securities & Futures Commission of Hong Kong. If this material is distributed in Japan, it is distributed by The Bank of New York Mellon Securities Company Japan Ltd, as intermediary for The Bank of New York Mellon. If this material is distributed in, or from, the Dubai International Financial Centre (“DIFC”), it is communicated by The Bank of New York Mellon, DIFC Branch, regulated by the DFSA and located at DIFC, The Exchange Building 5 North, Level 6, Room 601, P.O. Box 506723, Dubai, UAE, on behalf of The Bank of New York Mellon, which is a wholly-owned subsidiary of The Bank of New York Mellon Corporation. This presentation, which may be considered advertising, is for general information and reference purposes only and is not intended to provide legal, tax, accounting, investment, financial or other professional advice on any matter, and is not to be used as such.  BNY Mellon does not warrant or guarantee the accuracy or completeness of, nor undertake to update or amend the information or data contained herein. We expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon any of this information or data. This material is intended for Professional Clients and market counterparties only and no other person should act upon it. The information contained in this presentation is for use by wholesale clients only and is not to be relied upon by retail clients. Not all products and services are offered in all countries.

 

The Bank of New York Mellon is regulated by the Australian Prudential Regulation Authority and also holds an Australian Financial Services Licence No. 527917 issued by the Australian Securities and Investments Commission to provide financial services to wholesale clients in Australia.

 

This material does not constitute an offer to sell or the solicitation of an offer to buy any products or services in the People’s Republic of China (PRC) to any person to whom it is unlawful to make the offer or solicitation in the PRC. BNY Mellon does not represent that this material may be lawfully distributed, or that any products may be lawfully offered, in compliance with any applicable registration or other requirements in the PRC, or pursuant to an exemption available thereunder, or assume any responsibility for facilitating any such distribution or offering. In particular, no action has been taken by the issuer which would permit a public offering of any products or distribution of this material in the PRC. Accordingly, the products are not being offered or sold within the PRC by means of this material or any other document. Neither this material nor any advertisement or other offering material may be distributed or published in the PRC, except under circumstances that will result in compliance with any applicable laws and regulations. Products may be offered or sold to PRC investors outside the territory of the PRC provided that such PRC investors are authorized to buy and sell the products in the offshore market. Potential PRC investors are responsible for obtaining all relevant approvals from the PRC government authorities, including but not limited to the State Administration of Foreign Exchange, and compliance with all applicable laws and regulations, including but not limited to those of the PRC, before purchasing the products.

 

Trademarks and logos belong to their respective owners.

© 2023 The Bank of New York Mellon Corporation. 

All rights reserved.