Final answer:
The trustee under a bond indenture is one of the corporate trust relationships that banks administer wherein they manage bond funds and ensure the issuer adheres to the terms on behalf of the bondholders.
Step-by-step explanation:
One of the only corporate trust relationships administered by a bank trust department is a. Trustee under a bond indenture. As the trustee, the bank holds the legal title to assets on behalf of another party, typically bondholders.
This means that the bank is responsible for ensuring that the terms of the bond indenture are adhered to by the issuer of the bond.
The trustee's duties include managing bond funds, reporting to bondholders, and if necessary, taking action to remedy defaults on behalf of bondholders.