NEW YORK, November 17, 2010 - J.P. Morgan Worldwide Securities Services announced today that it has been selected by FHLBank Atlanta, a federal home loan bank, to provide custody and liquidity services for the bank's own investment portfolio and for assets it holds for its member banks.
FHLBank Atlanta is one of 12 regional banks in the Federal Home Loan Bank System which was established by Congress in 1932. Its products, services and programs help member financial institutions manage daily liquidity, fund mortgages originated for sale in the secondary market, fund loans and investments held in portfolio, and improve their asset and liability management.
"We selected J.P. Morgan because of the financial strength of the firm, its advanced technology platforms, and for its reputation for quality and client service. By working with J.P. Morgan, we will achieve operational efficiencies that will allow us to better serve the member financial institutions we work with to make affordable home mortgages and provide economic development assistance to neighborhoods and communities," said Leigh Chapple, First Vice President of Financial Operations Management, FHLBank Atlanta.
Robert Caporale, head of new business development - Americas, J.P. Morgan Worldwide Securities Services, said: "J.P. Morgan is proud to provide custody and securities services to FHLBank Atlanta, an important client of our firm. Our proven experience, comprehensive products and quality service will help FHLBank Atlanta meet its own business needs while satisfying the safekeeping requirements of its members."
About FHLBank Atlanta
FHLBank Atlanta offers competitively-priced financing, community development grants, and other banking services to help member financial institutions make affordable home mortgages and provide economic development credit to neighborhoods and communities. The Bank's members-its shareholders and customers-are commercial banks, credit unions, savings institutions, and insurance companies headquartered in Alabama, Florida, Georgia, Maryland, North Carolina, South Carolina, Virginia, and the District of Columbia. FHLBank Atlanta is one of 12 district banks in the Federal Home Loan Bank System which since 1990 has contributed more than $4 billion to the Affordable Housing Program.
About J.P. Morgan Worldwide Securities Services
J.P. Morgan Worldwide Securities Services (WSS) is a premier securities servicing provider that helps institutional investors, alternative asset managers, broker dealers and equity issuers optimize efficiency, mitigate risk and enhance revenue. A division of J.P. Morgan Chase Bank, N.A. (NYSE: JPM), WSS leverages the firm's global scale, leading technology and deep industry expertise to service investments around the world. It has $15.9 trillion in assets under custody and $6.7 trillion in funds under administration. For more information, go to www.jpmorgan.com/wss.
About JPMorgan Chase & Co.
JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $2.1 trillion and operations in more than 60 countries. The firm is a leader in investment banking, financial services for consumers, small business and commercial banking, financial transaction processing, asset management and private equity. A component of the Dow Jones Industrial Average, JPMorgan Chase & Co. serves millions of consumers in the United States and many of the world's most prominent corporate, institutional and government clients under its J.P. Morgan and Chase brands. Information about JPMorgan Chase & Co. is available at www.jpmorganchase.com.