Custodian obligations require agreement with depository, daily reporting, monitoring and ensuring group holdings stay under specified limit. The regulations require a foreign portfolio investor or its global custodian to enter an agreement with the designated depository participant before investing. Custodians must provide daily transaction reports to depositories and the Board, monitor investments, maintain true and fair records and books, and report group holdings so depositories can aggregate limits to ensure combined holdings remain below the prescribed equity threshold on a fully diluted basis.