(Part I of II) This exclusive report is a compilation of interviews and background research from October 1995 through April 1999.
The Depository Trust Company (DTC) is the best kept secret in America. Headquartered at 55 Water Street in New York City, the average American has no clue that this financial institution is the most powerful banking corporation in the world. The general public has no knowledge of what the DTC is or what they do.
How can a private banking trust company hold assets of over $19 trillion and be unknown? In a recent press release dated April 19, 1999, the Depository Trust Company stated:
The Depository Trust Company (DTC) is the world's largest securities depository, holding nearly $19 trillion in assets for its Participants and their customers. Last year, DTC processed over 164 million book-entry deliveries valued at more than $77 trillion.
In dealing with the trust department of Midlantic Bank, N.A. in New Jersey [now PNC Bank, N.A.