EX-99.G 13 amd3_custody.txt AMENDMENT NO. 3 TO CUSTODY AGMT 5/1/01 AMENDMENT No. 3, dated as of May 1, 2001 to the custody agreements (each an "Agreement"), between the Franklin Templeton funds listed on Schedule A hereto (each a "Fund"), having a place of business at 7500 East Broward Blvd., Ft. Lauderdale, FL 33394, and The Chase Manhattan Bank ("Bank"), having a place of business at 270 Park Ave., New York, N.Y. 10017-2070. It is hereby agreed as follows: Section 1. Except as modified hereby, the Agreement is confirmed in all respects. Capitalized terms used herein without definition shall have the meanings ascribed to them in the Agreement. This Amendment supersedes in all respects Amendment No 2 between the parties, dated July 23, 1998, which shall have no further force or effect as and after the date hereof. Section 2. Delete all of Section 2 of the Agreement after subsection (B.) thereof. h entity. Section 3. The following definitions are added to Section 3 of the Agreement in appropriate alphabetic sequence: (i) The term Subcustodian as used herein shall mean the following: (a) a "U.S. Bank," which shall mean a U.S. bank as defined in rule 17f-5(a)(7) under the Investment Company Act of 1940, as amended ("1940 Act") promulgated by the Securities and Exchange Commission ("SEC"); and (b) an "Eligible Foreign Custodian," which, as defined in 1940 Act rule 17f-5(a)(1) and (5), shall mean (i) a banking institution or trust company, incorporated or organized under the laws of a country other than the United States, that is regulated as such by that country's government or an agency thereof, and (ii) a majority-owned direct or indirect subsidiary of a U.S. Bank or bank holding company which subsidiary is incorporated or organized under the laws of a country other than the United States. In addition, an Eligible Foreign Custodian shall also mean any other entity that shall have been so qualified by exemptive order, rule or other appropriate action of the SEC. (ii) The term "securities depository" as used herein shall mean the following when referring to a securities depository located: (a) outside the U.S,. an "Eligible Securities Depository" which, in turn, shall have the same meaning asin 1940 Act rule 17f-7(b)(1)(i)-(vi) as the same may be amended from time to time, or that has otherwise been made exempt by an SEC exemptive order, rule other appropriate SEC action, except that prior to the compliance date with rule 17f-7 for a particular securities depository the term "securities depository" shall be as defined in (a)(1)(ii)-(iii) of the 1997 amendments to 1940 Act rule 17f-5. (b) in the U.S., a "securities depository" as defined in 1940 Act rule 17f-4(a). Section 4. Add the following at the end of Section 3 of the Agreement: "For purposes of clarity, it is understood and agreed that the term Subcustodian shall not include any securities depository. For purposes of the provisions of the Agreement imposing liability on Bank, the term Subcustodian shall not include any Eligible Foreign Custodian as to which Bank has not acted as Foreign Custody Manager." Section 5. Add the following at the end of Section 3(d): "and which shall be limited to Eligible Foreign Custodians as defined in (i)(b) of the definition of Eligible Foreign Custodians contained herein; provided that, for purposes of the sections of this Agreement addressing Chase liability (including, but not limited to, Sections 7, 10, 14, and 16-17), Foreign Bank shall not include any Foreign Bank as to which Chase has not acted as Foreign Custody Manager." Section 6. Add the following at the end of Section 3(e): "and which shall be limited to Eligible Securities Depositories as defined in (ii)(a) of the definition of Eligible Securities Depositories contained herein; provided that, for purposes of the sections of this Agreement addressing Chase liability (including, but not limited to, Sections 7, 10, 14, and 16-17) the term Foreign Securities Depository shall be deleted." Section 7. Delete the word "and" at the end of Section 4(b) of the Agreement and add the following at the end of Section 4(c) of the Agreement: "; and (d) the risk analysis furnished by Chase pursuant to Section 24(a) hereof". Section 8. Delete existing Section 5 of the Agreement and, insert, in lieu thereof, the following: "At the request of Fund, Chase may, but need not, add an Eligible Foreign Custodian where Chase has not acted as Foreign Custody Manager with respect to the selection thereof; provided that, any such entities shall not be included for purposes of the sections of this Agreement addressing Chase liability (including, but not limited to, Sections 7, 10, 14, and 16-17). Chase shall notify Fund in the event that it elects to add any such entity." Section 9. Add the following language to the end of Section 6(a) of the Agreement: "or, in the case of cash deposits, except for liens or rights in favor of creditors of the Subcustodian arising under bankruptcy, insolvency or similar laws." Section 10. Add new Section 23 to the Agreement as follows: 23. COMPLIANCE WITH 1940 ACT RULE 17F-5 ("RULE 17F-5"). (a) Fund's board of directors (or equivalent body) (hereinafter "Board") hereby delegates to Bank, and Bank hereby accepts the delegation to it of, the obligation to perform as Fund's "Foreign Custody Manager" (as that term is defined in rule 17f-5(a)(3)), including for the purposes of: (i) selecting "Eligible Foreign Custodians" (as that term is defined in rule 17f-5(a)(1), as the same may be amended from time to time, or that have otherwise been exempted by SEC exemptive order, rule other appropriate SEC action) to hold Fund's "Foreign Assets" (as that term is defined in rule 17f-5(a)(2), and (ii) evaluating the contractual arrangements with such Eligible Foreign Custodians (as set forth in rule 17f-5(c)(2)), and (iii) monitoring such foreign custody arrangements (as set forth in rule 17f-5(c)(3)). (b) In connection with the foregoing, Bank shall: (i) provide written reports notifying Fund's Board of the placement of Foreign Assets with particular Eligible Foreign Custodians and of any material change in the arrangements with such Eligible Foreign Custodians, with such reports to be provided to Fund's Board at such times as the Board deems reasonable and appropriate based on the circumstances of Fund's foreign custody arrangements but until further notice from Fund requesting a different schedule, such reports shall be provided not less than quarterly in summary form, with a more detailed report annually. (ii) exercise such reasonable care, prudence and diligence in performing as Fund's Foreign Custody Manager as a person having responsibility for the safekeeping of Foreign Assets would exercise; (iii) in selecting an Eligible Foreign Custodian, first have determined that Foreign Assets placed and maintained in the safekeeping of such Eligible Foreign Custodian shall be subject to reasonable care, based on the standards applicable to custodians in the relevant market, after having considered all factors relevant to the safekeeping of such Assets, including, without limitation, those factors set forth in rule 17f-5(c)(1)(i)-(iv); (iv) determine that the written contract with the Eligible Foreign Custodian requires that the Eligible Foreign Custodian will provide reasonable care for Foreign Assets based on the standards applicable to custodians in the relevant market as provided in rule 17f-5(c)(2); and (v) have established a system to monitor the continued appropriateness of maintaining Foreign Assets with particular Eligible Foreign Custodians and performance of the governing contractual arrangements; it being understood, however, that in the event that Bank shall have determined that the existing Eligible Foreign Custodian in a given country would no longer afford Foreign Assets reasonable care and that no other Eligible Foreign Custodian in that country would afford reasonable care, Bank shall promptly so advise Fund and shall then act in accordance with the Instructions of Fund with respect to the disposition of the affected Foreign Assets. Subject to (b)(i)-(v) above, Bank is hereby authorized to place and maintain Foreign Assets on behalf of Fund with Eligible Foreign Custodians pursuant to a written contract deemed appropriate by Bank. (c) Except as expressly provided herein and in Section 24 hereof, Fund shall be solely responsible to assure that the maintenance of Foreign Assets hereunder complies with the rules, regulations, interpretations and exemptive orders promulgated by or under the authority of the SEC. (d) Bank represents to Fund that it is a U.S. Bank as defined in rule 17f-5(a)(7). Fund represents to Bank that: (1) the Assets being placed and maintained in Bank's custody are subject to the Investment Company Act of 1940, as amended (the "1940 Act") as the same may be amended from time to time; (2) its Board (or other governing body) has determined that it is reasonable to rely on Bank to perform as Fund's Foreign Custody Manager; and (3) its Board (or other governing body) or its investment adviser shall have determined that Fund may maintain Foreign Assets in each country in which Fund's Foreign Assets shall be held hereunder and determined to accept the risks arising therefrom (including, but not limited to, a country's financial infrastructure, prevailing custody and settlement practices, laws applicable to the safekeeping and recovery of Foreign Assets held in custody, and the likelihood of nationalization, currency controls and the like) (collectively ("Country Risk")). Nothing contained herein shall require Bank to make any selection on behalf of Fund that would entail consideration of Country Risk and, except as may be provided in (e) below, to engage in any monitoring of Country Risk. (e) Bank shall provide to Fund such information relating to Country Risk as is specified in Schedule C hereto. Fund hereby acknowledges that: (i) such information is solely designed to inform Fund of market conditions and procedures and is not intended as a recommendation to invest or not invest in particular markets; and (ii) Bank has gathered the information from sources it considers reliable, but that Bank shall have no responsibility for inaccuracies or incomplete information. Section 11. Add a new Section 24 to the Agreement as follows: 24. COMPLIANCE WITH 1940 ACT RULE 17F-7 ("RULE 17F-7"). (a) Bank shall, for consideration by Fund, provide an analysis in accordance with rule 17f-7(a)(1)(i)(A) of the custody risks associated with maintaining Fund's Foreign Assets with each Eligible Securities Depository used by Bank as of the date hereof (or, in the case of an Eligible Securities Depository not used by Bank as of the date hereof, prior to the initial placement of Fund's Foreign Assets at such Depository) and at which any Foreign Assets of Fund are held or are expected to be held. The foregoing analysis will be provided to Fund and its investment adviser(s) ("Adviser") at Bank's Website. In connection with the foregoing, either Fund or Adviser shall notify Bank of any Eligible Securities Depositories at which it does not choose to have its Foreign Assets held. Bank shall monitor the custody risks associated with maintaining Fund's Foreign Assets at each such Eligible Securities Depository on a continuing basis and shall promptly notify Fund or Adviser of any material changes in such risks. (b) Bank shall exercise reasonable care, prudence and diligence in performing the requirements set forth in Section 24(a) above. (c) Based on the information available to it in the exercise of diligence, Bank shall determine the eligibility under rule 17f-7 of each depository before including it on Appendix 1-B hereto and shall promptly advise Fund and Adviser if any Eligible Securities Depository ceases to be eligible. (Eligible Securities Depositories used by Bank as of the date hereof are set forth in Appendix 1-B hereto, and as the same may be amended on notice to Fund and Adviser from time to time.) ********************* IN WITNESS WHEREOF, the parties have executed this Amendment as of the date first above written. FRANKLIN TEMPLETON THE CHASE MANHATTAN BANK On behalf of each of the Funds listed on Schedule A hereto By: /s/ John R. Kay By: /s/ John K. Barry -------------------------------- ---------------------- Name: John R. Kay Name: John Barry Title: Vice President Title: Vice President Date: June 26, 2001 Date: 5/3/01 Schedule A TEMPLETON U.S. FUNDS As of April 1, 2001 P96299 TEMPLETON GROWTH FUND, INC. ("TGF") - 12/31/86 TEMPLETON FUNDS, INC. ("TFI") - 2/11/86 P96116 Templeton World Fund P96117 Templeton Foreign Fund P96118 TEMPLETON GLOBAL SMALLER COMPNAIES FUND, INC. ("TGSCF") - 5/15/96 TEMPLETON INCOME TRUST ("TIT") - 5/15/96 P96271 Templeton Global Bond Fund P96766 TEMPLETON CAPITAL ACCUMULATOR FUND, INC. ("TCAF") - 1/14/91 P96847 TEMPLETON DEVELOPING MARKETS TRUST ("TDMT") - 10/16/91 TEMPLETON INSTITUTIONAL FUNDS, INC. ("TIFI") - 1/29/96 P96721 Foreign Equity Series P80289 Emerging Markets Series P81800 Emerging Fixed Income Market Series P96583 TEMPLETON GLOBAL OPPORTUNITIES TRUST ("TGOT") - 1/18/90 TEMPLETON GLOBAL INVESTMENT TRUST ("TGIT") - 5/7/95 P81021 Templeton International Fund P81020 Templeton Latin America Fund P96309 TEMPLETON EMERGING MARKETS FUND, INC. ("TEMF") - 2/1/87 P96518 TEMPLETON GLOBAL INCOME FUND, INC. ("TGIF") - 2/29/88 P96340 TEMPLETON GLOBAL GOVERNMENTS INCOME TRUST ("TGG") - 10/22/88 P80394 TEMPLETON EMERGING MARKETS INCOME FUND, INC. ("TEMIF") - 9/17/93 P96311 TEMPLETON CHINA WORLD FUND, INC. ("TCWF") - 9/7/93 Schedule A (continued) TEMPLETON U.S. FUNDS As of April 1, 2001 P49247 & P80672 TEMPLETON EMERGING MARKETS APPRECIATION FUND, INC. ("TEMAF") 4/22/94 P80816 TEMPLETON DRAGON FUND, INC. ("TDF") - 8/30/94 P80815 TEMPLETON VIETNAM AND SOUTHEAST ASIA FUND, INC. ("TVF") - 9/15/94 P80906 TEMPLETON RUSSIA FUND, INC. ("TRF") - 6/15/95 SECURITIES DEPOSITORIES AS OF September 27, 2000 Schedule B ELIGIBLE SECURITIES DEPOSITORIES
--------------------------------------------------------------------------------------------------------- COUNTRY DEPOSITORY INSTRUMENTS --------------------------------------------------------------------------------------------------------- Argentina CVSA Equity, Corporate + Government Debt (Caja de Valores S.A.) --------------------------------------------------------------------------------------------------------- Argentina CRYL Government Debt (Central de Registration y Liquidacion de Instrumentos de Endeudamiento Publico) --------------------------------------------------------------------------------------------------------- Australia Austraclear Limited Corporate Debt, Money Market + Semi- Government Debt --------------------------------------------------------------------------------------------------------- Australia CHESS Equity (Clearing House Electronic Sub-register System) --------------------------------------------------------------------------------------------------------- Australia RITS Government Debt (Reserve Bank of Australia/Reserve Bank Information and Transfer System) --------------------------------------------------------------------------------------------------------- Austria OeKB Equity, Corporate + Government Debt (Oesterreichische Kontrollbank AG) --------------------------------------------------------------------------------------------------------- Belgium CIK Equity + Corporate Debt (Caisse Interprofessionnelle de Depots et de Virements de Titres S.A.) --------------------------------------------------------------------------------------------------------- Belgium NBB Government Debt (National Bank of Belgium) --------------------------------------------------------------------------------------------------------- Brazil CBLC Equity (Companhia Brasileira de Liquidacao e Custodia) --------------------------------------------------------------------------------------------------------- Brazil CETIP Corporate Debt (Central de Custodia e Liquidacao Financiera de Titulos Privados) --------------------------------------------------------------------------------------------------------- Brazil SELIC Government Debt (Sistema Especial de Liquidacao e Custodia) --------------------------------------------------------------------------------------------------------- Bulgaria BNB Government Debt (Bulgaria National Bank) --------------------------------------------------------------------------------------------------------- Bulgaria CDAD Equity (Central Depository A.D.) --------------------------------------------------------------------------------------------------------- Canada CDS Equity, Corporate + Government Debt (The Canadian Depository for Securities Limited) --------------------------------------------------------------------------------------------------------- Chile DCV Equity, Corporate + Government Debt (Deposito Central de Valores S.A.) --------------------------------------------------------------------------------------------------------- China, Shanghai SSCCRC Equity (Shanghai Securities Central Clearing and Registration Corporation) --------------------------------------------------------------------------------------------------------- China, Shenzhen SSCC Equity (Shenzhen Securities Clearing Company, Limited) --------------------------------------------------------------------------------------------------------- Colombia DCV Government Debt (Deposito Central de Valores) --------------------------------------------------------------------------------------------------------- Colombia DECEVAL Equity, Corporate + Government Debt (Deposito Centralizado de Valores de Colombia S.A.) --------------------------------------------------------------------------------------------------------- Croatia SDA Equity + Government Debt (Central Depository Agency Inc. - Stredisnja depozitarna agencija d.d.) --------------------------------------------------------------------------------------------------------- Croatia Ministry of Finance of the Republic of Croatia Short-term debt issued by the Ministry of Finance. --------------------------------------------------------------------------------------------------------- Croatia CNB Short-term debt issued by the (Croatian National Bank) National Bank of Croatia. --------------------------------------------------------------------------------------------------------- Czech Republic SCP Equity, Corporate + Government Debt (Stredisko cennych papiru) --------------------------------------------------------------------------------------------------------- Czech Republic CNB Government Debt (Czech National Bank) --------------------------------------------------------------------------------------------------------- Denmark VP Equity, Corporate + Government Debt (Vaerdipapircentralen A/S) --------------------------------------------------------------------------------------------------------- Egypt MCSD Equity + Corporate Debt (Misr for Clearing, Settlement and Depository, S.A.E.) --------------------------------------------------------------------------------------------------------- Estonia ECDS Equity (Estonian Central Depository for Securities Limited - Eesti Vaatpaberite Keskdepositoorium) --------------------------------------------------------------------------------------------------------- Euromarket DCC Euro-CDs (The Depository and Clearing Centre) --------------------------------------------------------------------------------------------------------- Euromarket Clearstream Euro-Debt (Clearstream Banking, S.A.) --------------------------------------------------------------------------------------------------------- Euromarket Euroclear Euro-Debt --------------------------------------------------------------------------------------------------------- Finland APK Equity, Corporate + Government Debt (Finnish Central Securities Depository Limited) --------------------------------------------------------------------------------------------------------- France SICOVAM Equity, Corporate + Government Debt (Societe Interprofessionnelle pour la Compensation des Valeurs Mobilieres, S.A.) --------------------------------------------------------------------------------------------------------- Germany Clearstream Equity, Corporate + Government Debt (Clearstream Banking AG) --------------------------------------------------------------------------------------------------------- Greece CSD Equity + Corporate Debt (Central Securities Depository S.A.) --------------------------------------------------------------------------------------------------------- Greece BoG Government Debt (Bank of Greece) --------------------------------------------------------------------------------------------------------- Hong Kong HKSCC Equity (Hong Kong Securities Clearing Company Limited) --------------------------------------------------------------------------------------------------------- Hong Kong CMU Corporate + Government Debt (Central Moneymarkets Unit) --------------------------------------------------------------------------------------------------------- Hungary KELER Equity, Corporate + Government Debt (Central Depository and Clearing House - Kosponti Elszamolohaz es Ertektar (Budapest) Rt.) --------------------------------------------------------------------------------------------------------- India NSDL Equity (National Securities Depository Limited) --------------------------------------------------------------------------------------------------------- India CDSL Equity (Central Depository Services (India) Limited) --------------------------------------------------------------------------------------------------------- India RBI Government Debt (Reserve Bank of India) --------------------------------------------------------------------------------------------------------- Indonesia KSEI Equity (PT Kustodian Sentral Efek Indonesia) --------------------------------------------------------------------------------------------------------- Ireland CREST Equity + Corporate Debt (CRESTCo Limited) --------------------------------------------------------------------------------------------------------- Ireland CBISSO Government Debt (Central Bank of Ireland Securities Settlements Office) --------------------------------------------------------------------------------------------------------- Israel TASE Clearing House Equity, Corporate + Government Debt (Tel Aviv Stock Exchange Clearing House) --------------------------------------------------------------------------------------------------------- Italy Monte Titoli S.p.A. Equity + Corporate Debt --------------------------------------------------------------------------------------------------------- Italy Banca d'Italia Government Debt --------------------------------------------------------------------------------------------------------- Ivory Coast DC/BR Equity (Le Depositaire Central / Banque de Reglement) --------------------------------------------------------------------------------------------------------- Japan JASDEC Equity + Convertible Debt (Japan Securities Depository Center) --------------------------------------------------------------------------------------------------------- Japan BoJ Registered Government Debt (Bank of Japan) --------------------------------------------------------------------------------------------------------- Kazakhstan CSD Equity (Central Securities Depository CJSC) --------------------------------------------------------------------------------------------------------- Latvia LCD Equity, Corporate + Government Debt (Latvian Central Depository) --------------------------------------------------------------------------------------------------------- Lebanon Midclear S.A.L. Equity (Custodian and Clearing Center of Financial Instruments for Lebanon and the Middle East S.A.L.) --------------------------------------------------------------------------------------------------------- Lithuania CSDL Equity + Government Debt (Central Securities Depository of Lithuania) --------------------------------------------------------------------------------------------------------- Luxembourg Clearstream Equity (Clearstream Banking S.A.) --------------------------------------------------------------------------------------------------------- Malaysia MCD Equity + Corporate Debt (Malaysian Central Depository Sdn. Bhd.) --------------------------------------------------------------------------------------------------------- Mauritius CDS Equity + Corporate Debt (Central Depository and Settlement Company Limited) --------------------------------------------------------------------------------------------------------- Mexico INDEVAL Equity, Corporate + Government Debt (S.D. INDEVAL S.A. de C.V.) --------------------------------------------------------------------------------------------------------- Morocco Maroclear Equity, Corporate + Government Debt --------------------------------------------------------------------------------------------------------- Netherlands NECIGEF Equity, Corporate + Government Debt (Nederlands Centraal Insituut voor Giraal Effectenverkeer B.V.) --------------------------------------------------------------------------------------------------------- New Zealand NZCSD Equity, Corporate + Government Debt (New Zealand Central Securities Depository) --------------------------------------------------------------------------------------------------------- Nigeria CSCS Equity, Corporate + Government Debt (Central Securities Clearing System Limited) --------------------------------------------------------------------------------------------------------- Norway VPS Equity, Corporate + Government Debt (Verdipapirsentralen) --------------------------------------------------------------------------------------------------------- Oman MDSRC Equity (The Muscat Depository and Securities Registration Company, S.A.O.C.) --------------------------------------------------------------------------------------------------------- Pakistan CDC Equity + Corporate Debt (Central Depository Company of Pakistan Limited) --------------------------------------------------------------------------------------------------------- Pakistan SBP Government Debt (State Bank of Pakistan) --------------------------------------------------------------------------------------------------------- Peru CAVALI Equity, Corporate + Government Debt (CAVALI ICLV S.A.) --------------------------------------------------------------------------------------------------------- Philippines PCD Equity (Philippine Central Depository Inc.) --------------------------------------------------------------------------------------------------------- Philippines ROSS Government Debt (Bangko Sentral ng Pilipinas / Register of Scripless Securities) --------------------------------------------------------------------------------------------------------- Poland NDS Equity + Long-Term Government Debt (National Depository for Securities S.A.) --------------------------------------------------------------------------------------------------------- Poland CRT Short-Term Government Debt (Central Registry of Treasury-Bills) --------------------------------------------------------------------------------------------------------- Portugal CVM Equity, Corporate + Government Debt (Central de Valores Mobiliarios e Sistema de Liquidacao e Compensacao) --------------------------------------------------------------------------------------------------------- Romania SNCDD Equity (National Company for Clearing, Settlement and Depository for Securities) --------------------------------------------------------------------------------------------------------- Romania BSE Equity (Bucharest Stock Exchange Registry) --------------------------------------------------------------------------------------------------------- Russia VTB Government Debt (Ministry of Finance (Vneshtorgbank) Bonds) --------------------------------------------------------------------------------------------------------- Russia NDC Equity, Corporate + Government Debt (National Depository Centre) --------------------------------------------------------------------------------------------------------- Russia DCC Equity (Depository Clearing Company) --------------------------------------------------------------------------------------------------------- Singapore CDP Equity + Corporate Debt (The Central Depository (Pte) Limited) --------------------------------------------------------------------------------------------------------- Singapore SGS Government Debt (Monetary Authority of Singapore / Singapore Government Securities Book-Entry System) --------------------------------------------------------------------------------------------------------- Slovak Republic SCP Equity, Corporate + Government Debt (Stredisko cennych papierov SR Bratislava, a.s.) --------------------------------------------------------------------------------------------------------- Slovak Republic NBS Government Debt (National Bank of Slovakia) --------------------------------------------------------------------------------------------------------- Slovenia KDD Equity + Corporate Debt (Centralna klirinsko depotna druzba d.d.) --------------------------------------------------------------------------------------------------------- South Africa CDL Corporate + Government Debt (Central Depository (Pty) Limited) --------------------------------------------------------------------------------------------------------- South Africa STRATE Equity (Share Transactions Totally Electronic) --------------------------------------------------------------------------------------------------------- South Korea KSD Equity, Corporate + Government Debt (Korea Securities Depository) --------------------------------------------------------------------------------------------------------- Spain SCLV Equity + Corporate Debt (Servicio de Compensacion y Liquidacion de Valores, S.A.) --------------------------------------------------------------------------------------------------------- Spain CBEO Government Debt (Banco de Espana / Central Book Entry Office) --------------------------------------------------------------------------------------------------------- Sri Lanka CDS Equity (Central Depository System (Private) Limited) --------------------------------------------------------------------------------------------------------- Sweden VPC Equity, Corporate + Government Debt (Vardepapperscentralen AB) --------------------------------------------------------------------------------------------------------- Switzerland SIS Equity, Corporate + Government Debt (SIS SegaInterSettle AG) --------------------------------------------------------------------------------------------------------- Taiwan TSCD Equity + Government Debt (Taiwan Securities Central Depository Co., Ltd.) --------------------------------------------------------------------------------------------------------- Thailand TSD Equity, Corporate + Government Debt (Thailand Securities Depository Company Limited) --------------------------------------------------------------------------------------------------------- Tunisia STICODEVAM Equity + Corporate Debt (Societe Tunisienne Interprofessionnelle pour la Compensation et le Depot des Valeurs Mobilieres) --------------------------------------------------------------------------------------------------------- Turkey TAKASBANK Equity + Corporate Debt (IMKB Takas ve Saklama Bankasi A.S.) --------------------------------------------------------------------------------------------------------- Turkey CBT Government Debt (Central Bank of Turkey) --------------------------------------------------------------------------------------------------------- United Kingdom CREST Equity + Corporate Debt (CRESTCo Limited) --------------------------------------------------------------------------------------------------------- United Kingdom CMO Sterling & Euro CDs + CP (Central Moneymarkets Office) --------------------------------------------------------------------------------------------------------- United States DTC Equity + Corporate Debt (Depository Trust Company) --------------------------------------------------------------------------------------------------------- United States PTC Mortgage Back Debt (Participants Trust Company) --------------------------------------------------------------------------------------------------------- United States FED Government Debt (The Federal Reserve Book-Entry System) --------------------------------------------------------------------------------------------------------- Uruguay BCU Government Debt (Banco Central del Uruguay) --------------------------------------------------------------------------------------------------------- Venezuela BCV Government Debt (Banco Central de Venezuela) --------------------------------------------------------------------------------------------------------- Zambia CSD Equity + Government Debt (LuSE Central Shares Depository Limited) --------------------------------------------------------------------------------------------------------- Zambia BoZ Government Debt (Bank of Zambia) ---------------------------------------------------------------------------------------------------------
Schedule C Information Regarding Country Risk ---------------------------------- 1. To aid Fund in its determinations regarding Country Risk, Bank shall furnish annually and upon the initial placing of Foreign Assets into a country the following information (check items applicable): A Opinions of local counsel concerning: i. Whether applicable foreign law would restrict the access afforded Fund's independent public accountants to books and records kept by an Eligible Foreign Custodian located in that country. ii. Whether applicable foreign law would restrict the Fund's ability to recover its assets in the event of the bankruptcy of an Eligible Foreign Custodian located in that country. iii. Whether applicable foreign law would restrict the Fund's ability to recover assets that are lost while under the control of an Eligible Foreign Custodian located in the country. B. Written information concerning: i. The likelihood of expropriation, nationalization, freezes, or confiscation of Fund's assets. ii. Whether difficulties in converting Fund's cash and cash equivalents to U.S. dollars are reasonably foreseeable. C. A market report with respect to the following topics: (i) securities regulatory environment, (ii) foreign ownership restrictions, (iii) foreign exchange, (iv) securities settlement and registration, (v) taxation, (vi) market settlement risk, (vii) Eligible Securities Depositories (including Depository evaluation), if any. 2. Bank shall furnish the following additional information: Market flashes, including with respect to changes in the information in market reports.