Question: When a bank issues an ADR what is occurring? Multiple choice question. The bank has purchased receipts issued against a trust and is selling the receipts to a foreign company. The bank has purchased shares in a domestic company, placed the shares in a trust, and issued depository receipts against the trust. A foreign company is purchasing receipts from a trust that has been structured by a domestic bank. The bank has purchased shares in a foreign company, placed the shares in a trust, and issued depository receipts against the trust.