Form N-CEN T. Rowe Price Short-Term For: May 31
X0404 N-CEN LIVE 0000731890 XXXXXXXX 811-03894 false false false N-1A true T. ROWE PRICE SHORT-TERM BOND FUND, INC. 811-03894 0000731890 549300C2B2KYI619RG43 100 East Pratt Street Baltimore 21202 US-MD US 410-345-2000 State Street Corporation 1776 Heritage Drive Quincy 02171 617-786-3000 Custodian records for the Registrant. JPMorgan Chase Bank, London Woolgate House, Coleman Street London GB EC2P 2HD 0 44 20 7742 4000 Records related to the custody of Registrant's portfolio securities which are purchased outside the United States. T. ROWE PRICE SHORT-TERM BOND FUND, INC. 100 East Pratt Street Baltimore 21202 410-345-2000 All accounts, books, and other documents required to be maintained by the Registrant under Section 31(a) of the Investment Company Act of 1940 and the rules thereunder. The Bank of New York Mellon 103 Bellevue Parkway Wilmington 19809 800-441-9800 Fund accounting records. T. Rowe Price Services, Inc. 100 East Pratt Street Baltimore 21202 410-345-2000 Transfer, dividend disbursing, and shareholder service records. N N N-1A 3 Y Bruce W. Duncan N/A N Teresa Bryce Bazemore N/A N Paul F. McBride N/A N Kellye L. Walker N/A N Robert J. Gerrard, Jr. N/A N Eric L. Veiel 003269676 Y David Oestreicher 004594569 Y Armando Capasso 007152939 100 East Pratt Street Baltimore 21202 XXXXXX Y N N N N N N T. Rowe Price Investment Services, Inc. 008-25130 000008348 N/A Y N PricewaterhouseCoopers LLP 238 5493002GVO7EO8RNNS37 N N N N N N N T. Rowe Price Short Duration Income Fund S000069612 549300EVOS31HCD2UT85 N 2 0 0 N/A N N Y N State Street Bank and Trust Company 571474TGEMMWANRLN572 N N N/A N/A N/A Rule 32a-4 (17 CFR 270.32a-4) Rule 12d1-1 (17 CFR 270.12d1-1) Y Y Y N T. Rowe Price Associates, Inc. 801-00856 000105496 7HTL8AEQSEDX602FBU63 N T. Rowe Price Hong Kong Limited 801-72035 000155827 549300J2AF74HTUGWG28 Y HK T. Rowe Price Services, Inc. 084-01079 N/A Y N T. Rowe Price Retirement Plan Services, Inc. 084-01917 N/A Y Y N ICE Data Services 13-3668779 Tax ID N Markit North America, Inc. N/A N Bloomberg Finance L.P. 5493001KJTIIGC8Y1R12 N Refinitiv US Holdings Inc. 549300NF240HXJO7N016 N N State Street Bank and Trust Company 571474TGEMMWANRLN572 N N Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1)) EUROCLEAR BANK SA/NV 549300OZ46BRLZ8Y6F65 BE N Y Foreign securities depository - rule 17f-7 (17 CFR 270.17f-7) JPMorgan Chase Bank, London 7H6GLXDRUGQFU57RNE97 GB N N Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) Mizuho Bank, Ltd. RB0PEZSDGCO3JS6CEU02 JP N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) JPMorgan Chase Bank, N.A. 7H6GLXDRUGQFU57RNE97 N Y Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1)) N T. Rowe Price Retirement Plan Services, Inc. N/A Y Y T. Rowe Price Services, Inc. N/A Y N N T. Rowe Price Associates, Inc. 7HTL8AEQSEDX602FBU63 Y N N T. Rowe Price Investment Services, Inc. 008-25130 000008348 N/A 0.00000000 Morgan Stanley N/A N/A IGJSJL3JD5P30I6NJZ34 250.00000000 Citigroup, Inc. N/A N/A 6SHGI4ZSSLCXXQSBB395 388.00000000 JP MORGAN CHASE & CO. N/A N/A 8I5DZWZKVSZI1NUHU748 353.00000000 The Goldman Sachs Group, Inc. N/A N/A 784F5XWPLTWKTBV3E584 198.00000000 1188.00000000 The Goldman Sachs Group, Inc. N/A N/A 784F5XWPLTWKTBV3E584 7474332.00000000 BARCLAYS PLC N/A N/A 213800LBQA1Y9L22JB70 GB 2879765.00000000 Mizuho Financial Group, Inc. N/A N/A 353800CI5L6DDAN5XZ33 JP 3543525.00000000 JP MORGAN CHASE & CO. N/A N/A 8I5DZWZKVSZI1NUHU748 9920555.00000000 Citigroup Inc. N/A N/A 6SHGI4ZSSLCXXQSBB395 6606311.00000000 Wells Fargo & Company N/A N/A PBLD0EJDB5FWOLXP3B76 4538725.00000000 Morgan Stanley N/A N/A IGJSJL3JD5P30I6NJZ34 7937752.00000000 Bank of America Corporation N/A N/A 9DJT3UXIJIZJI4WXO774 4379854.00000000 BNP PARIBAS N/A N/A R0MUWSFPU8MPRO8K5P83 FR 4157541.00000000 The Bank of Nova Scotia N/A N/A L3I9ZG2KFGXZ61BMYR72 CA 4649566.00000000 75152012.00000000 N 51036746.00000000 0.00000000 N N N N T. Rowe Price Ultra Short-Term Bond Fund S000039055 549300KJPJ2IQ3OSSV02 N 3 0 0 N/A N N Y N State Street Bank and Trust Company 571474TGEMMWANRLN572 N N N/A N/A N/A Rule 12d1-1 (17 CFR 270.12d1-1) Rule 32a-4 (17 CFR 270.32a-4) Rule 12d1-4 (17 CFR 270.12d1-4) Y Y Y Y T. Rowe Price Associates, Inc. 801-00856 000105496 7HTL8AEQSEDX602FBU63 N T. Rowe Price Hong Kong Limited 801-72035 000155827 549300J2AF74HTUGWG28 Y HK T. Rowe Price Services, Inc. 084-01079 N/A Y N T. Rowe Price Retirement Plan Services, Inc. 084-01917 N/A Y Y N Refinitiv US Holdings Inc. 549300NF240HXJO7N016 N ICE Data Services 13-3668779 Tax ID N Bloomberg Finance L.P. 5493001KJTIIGC8Y1R12 N Markit North America, Inc. N/A N N BNP Paribas Securities Services S.C.A. - Milan Branch 549300WCGB70D06XZS54 IT N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) J.P. Morgan Bank Luxembourg S.A. 7W1GMC6J4KGLBBUSYP52 LU N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) BNP Paribas Securities Services S.C.A. - Lisbon Branch 549300WCGB70D06XZS54 PT N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) JPMorgan Chase Bank, N.A. 7H6GLXDRUGQFU57RNE97 N N Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1)) JPMorgan Chase Bank, N.A. - Sydney Branch 7H6GLXDRUGQFU57RNE97 AU N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) JPMorgan Chase Bank, N.A. - New Zealand Branch 7H6GLXDRUGQFU57RNE97 NZ N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) Santander Securities Services, S.A. 95980020140005970915 ES N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) Mizuho Bank, Ltd. RB0PEZSDGCO3JS6CEU02 JP N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) JPMorgan Chase Bank, London 7H6GLXDRUGQFU57RNE97 GB N N Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) State Street Bank and Trust Company 571474TGEMMWANRLN572 N N Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1)) UniCredit Bank Austria AG D1HEB8VEU6D9M8ZUXG17 AT N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) Bank Leumi le-Israel B.M. 7JDSZWRGUQY2DSTWCR57 IL N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) Skandinaviska Enskilda Banken AB, Helsinki Branch F3JS33DEI6XQ4ZBPTN86 FI N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) Skandinaviska Enskilda Banken AB, Stockholm F3JS33DEI6XQ4ZBPTN86 SE N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) EUROCLEAR BANK SA/NV 549300OZ46BRLZ8Y6F65 BE N Y Foreign securities depository - rule 17f-7 (17 CFR 270.17f-7) Deutsche Bank Aktiengesellschaft 7LTWFZYICNSX8D621K86 DE N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) N T. Rowe Price Services, Inc. N/A Y N T. Rowe Price Retirement Plan Services, Inc. N/A Y Y N T. Rowe Price Associates, Inc. 7HTL8AEQSEDX602FBU63 Y N N T. Rowe Price Investment Services, Inc. 008-25130 000008348 N/A 0.00000000 The Goldman Sachs Group, Inc. N/A N/A 784F5XWPLTWKTBV3E584 14076.00000000 Citigroup, Inc. N/A N/A 6SHGI4ZSSLCXXQSBB395 4039.00000000 JP MORGAN CHASE & CO. N/A N/A 8I5DZWZKVSZI1NUHU748 13318.00000000 Morgan Stanley N/A N/A IGJSJL3JD5P30I6NJZ34 11026.00000000 42459.00000000 The Goldman Sachs Group, Inc. N/A N/A 784F5XWPLTWKTBV3E584 1696885947.00000000 Citigroup Inc. N/A N/A 6SHGI4ZSSLCXXQSBB395 4007775880.00000000 Royal Bank of Canada N/A N/A ES7IP3U3RHIGC71XBU11 CA 525751039.00000000 Wells Fargo & Company N/A N/A PBLD0EJDB5FWOLXP3B76 2434963323.00000000 Morgan Stanley N/A N/A IGJSJL3JD5P30I6NJZ34 601721286.00000000 MUFG SECURITIES EMEA PLC N/A N/A U7M81AY481YLIOR75625 GB 882126382.00000000 Bank of America Corporation N/A N/A 9DJT3UXIJIZJI4WXO774 5669238413.00000000 BARCLAYS PLC N/A N/A 213800LBQA1Y9L22JB70 GB 2700686904.00000000 JP MORGAN CHASE & CO. N/A N/A 8I5DZWZKVSZI1NUHU748 2985845314.00000000 Mizuho Financial Group, Inc. N/A N/A 353800CI5L6DDAN5XZ33 JP 9308867986.00000000 33298158623.00000000 N 4595114428.00000000 0.00000000 N N N N T. Rowe Price Short-Term Bond Fund, Inc. S000002141 O3EF15Z749ITOPZMGX97 N 4 0 0 N/A N N Y N State Street Bank and Trust Company 571474TGEMMWANRLN572 N N N/A N/A N/A Rule 12d1-1 (17 CFR 270.12d1-1) Rule 12d1-4 (17 CFR 270.12d1-4) Rule 32a-4 (17 CFR 270.32a-4) Y Y N N T. Rowe Price Associates, Inc. 801-00856 000105496 7HTL8AEQSEDX602FBU63 N T. Rowe Price Hong Kong Limited 801-72035 000155827 549300J2AF74HTUGWG28 Y HK T. Rowe Price Retirement Plan Services, Inc. 084-01917 N/A Y Y T. Rowe Price Services, Inc. 084-01079 N/A Y N N Refinitiv US Holdings Inc. 549300NF240HXJO7N016 N Markit North America, Inc. N/A N Bloomberg Finance L.P. 5493001KJTIIGC8Y1R12 N ICE Data Services 13-3668779 Tax ID N N EUROCLEAR BANK SA/NV 549300OZ46BRLZ8Y6F65 BE N Y Foreign securities depository - rule 17f-7 (17 CFR 270.17f-7) JPMorgan Chase Bank, N.A. - New Zealand Branch 7H6GLXDRUGQFU57RNE97 NZ N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) BNP Paribas Securities Services S.C.A. - Milan Branch 549300WCGB70D06XZS54 IT N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) Banco Nacional De Mexico S.A. 2SFFM4FUIE05S37WFU55 MX N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) Mizuho Bank, Ltd. RB0PEZSDGCO3JS6CEU02 JP N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) Citibank Anonim Sirketi CWZ8NZDH5SKY12Q4US31 TR N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) JPMorgan Chase Bank, N.A. 7H6GLXDRUGQFU57RNE97 N Y Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1)) J.P. Morgan S.A. - Distribuidora de Titulos e Valores Mobiliarios 5493001LS7J56NZZ3G07 BR N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) Royal Bank of Canada ES7IP3U3RHIGC71XBU11 CA N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) Bank Handlowy w Warszawie Spolka Akcyjna XLEZHWWOI4HFQDGL4793 PL N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) State Street Bank and Trust Company 571474TGEMMWANRLN572 N N Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1)) JPMorgan Chase Bank, London 7H6GLXDRUGQFU57RNE97 GB N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) JPMorgan Chase Bank, N.A. - Sydney Branch 7H6GLXDRUGQFU57RNE97 AU N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) Skandinaviska Enskilda Banken AB, Stockholm F3JS33DEI6XQ4ZBPTN86 SE N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) J.P. Morgan Bank Luxembourg S.A. 7W1GMC6J4KGLBBUSYP52 LU N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) N T. Rowe Price Retirement Plan Services, Inc. N/A Y Y T. Rowe Price Services, Inc. N/A Y N N T. Rowe Price Associates, Inc. 7HTL8AEQSEDX602FBU63 Y N N T. Rowe Price Investment Services, Inc. 008-25130 000008348 N/A 0.00000000 Citigroup, Inc. N/A N/A 6SHGI4ZSSLCXXQSBB395 28416.00000000 JP MORGAN CHASE & CO. N/A N/A 8I5DZWZKVSZI1NUHU748 26452.00000000 Morgan Stanley N/A N/A IGJSJL3JD5P30I6NJZ34 12022.00000000 The Goldman Sachs Group, Inc. N/A N/A 784F5XWPLTWKTBV3E584 22455.00000000 89344.00000000 JP MORGAN CHASE & CO. N/A N/A 8I5DZWZKVSZI1NUHU748 553344179.00000000 Wells Fargo & Company N/A N/A PBLD0EJDB5FWOLXP3B76 704828202.00000000 CREDIT AGRICOLE SA N/A N/A 969500TJ5KRTCJQWXH05 FR 217192446.00000000 Citigroup Inc. N/A N/A 6SHGI4ZSSLCXXQSBB395 598426536.00000000 CITADEL SECURITIES INSTITUTIONAL LLC 008-69663 000281102 549300MLQ1S3715IUK04 420862073.00000000 BARCLAYS PLC N/A N/A 213800LBQA1Y9L22JB70 GB 312864997.00000000 Bank of America Corporation N/A N/A 9DJT3UXIJIZJI4WXO774 303603192.00000000 Morgan Stanley N/A N/A IGJSJL3JD5P30I6NJZ34 1321984963.00000000 Nomura International PLC N/A N/A DGQCSV2PHVF7I2743539 GB 285424373.00000000 The Goldman Sachs Group, Inc. N/A N/A 784F5XWPLTWKTBV3E584 794151337.00000000 6860534488.00000000 N 5723874206.00000000 0.00000000 N N N N false false true false false false
Report of Independent Registered Public Accounting Firm
To the Board of Directors of T. Rowe Price Short-Term Bond Fund, Inc. and Shareholders of T. Rowe Price Short-Term Bond Fund, T. Rowe Price Ultra Short-Term Bond Fund and T. Rowe Price Short Duration Income Fund
In planning and performing our audit of the financial statements of T. Rowe Price Short-Term Bond Fund, T. Rowe Price Ultra Short-Term Bond Fund and T. Rowe Price Short Duration Income Fund (constituting T. Rowe Price Short-Term Bond Fund, Inc., hereafter collectively referred to as the "Funds") as of and for the year ended May 31, 2022, in accordance with the standards of the Public Company Accounting Oversight Board (United States) (PCAOB), we considered the Funds' internal control over financial reporting, including controls over safeguarding securities, as a basis for designing our auditing procedures for the purpose of expressing our opinion on the financial statements and to comply with the requirements of Form N-CEN, but not for the purpose of expressing an opinion on the effectiveness of the Funds' internal control over financial reporting. Accordingly, we do not express an opinion on the effectiveness of the Funds' internal control over financial reporting.
The management of the Funds is responsible for establishing and maintaining effective internal control over financial reporting. In fulfilling this responsibility, estimates and judgments by management are required to assess the expected benefits and related costs of controls. A company's internal control over financial reporting is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles. A company's internal control over financial reporting includes those policies and procedures that (1) pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the company; (2) provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with generally accepted accounting principles, and that receipts and expenditures of the company are being made only in accordance with authorizations of management and directors of the company; and (3) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use or disposition of a company's assets that could have a material effect on the financial statements.
Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Also, projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.
A deficiency in internal control over financial reporting exists when the design or operation of a control does not allow management or employees, in the normal course of performing their assigned functions, to prevent or detect misstatements on a timely basis. A material weakness is a deficiency, or a combination of deficiencies, in internal control over financial reporting, such that there is a reasonable possibility that a material misstatement of the company's annual or interim financial statements will not be prevented or detected on a timely basis.
Our consideration of the Funds' internal control over financial reporting was for the limited purpose described in the first paragraph and would not necessarily disclose all deficiencies in internal control over financial reporting that might be material weaknesses under standards established by the PCAOB. However, we noted no deficiencies in the Funds' internal control over financial reporting and its operation, including controls over safeguarding securities, that we consider to be material weaknesses as defined above as of May 31, 2022.
This report is intended solely for the information and use of the Board of Directors of T. Rowe Price Short-Term Bond Fund, Inc. and the Securities and Exchange Commission and is not intended to be and should not be used by anyone other than these specified parties.
/s/ PricewaterhouseCoopers LLP
Baltimore, Maryland
July 20, 2022
PricewaterhouseCoopers LLP, 100 East Pratt Street, Suite 2600, Baltimore, Maryland 21202-1096 T: 410 783 7600, www.pwc.com/us
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