what are depositary banks 
depositary banks play a crucial role in the issuance and management of adss adrs and other related securities these banks act as a bridge between u s investors and foreign companies allowing for easier access to foreign investments major depositary banks include jpmorgan chase co jpm citigroup c bank of new york mellon bk and deutsche bank db the bottom lineadss are u s dollar denominated equity shares of a foreign based company that can be bought and sold on an american stock exchange a u s depositary bank issues them and represent a specific number of shares of the foreign company the depositary bank sets the ratio of adss to the underlying shares in the foreign company and allows access to foreign company stocks without the need to trade on exchanges overseas meanwhile an adr is a certificate issued by a u s depositary bank and represents a specific number of adss 