What is the primary difference between custodian banks and Central Security Depositories $($CSDs$)?$

Custodian banks are responsible for issuing new securities$,$ while CSDs are responsible for clearing and settling trades in the secondary market.

Custodian banks keeps assets safe for investors, while CSDs are responsible for clearing and settling trades in the secondary market.

Custodian banks provides services primarily for government bonds, while CSDs provide services primarily for equity securities$.$

Custodian banks are regulatory bodies that oversees the securities market, while CSDs provide services for the registration, transfer, and safekeeping of securities$.$