J.P. Morgan to provide custody to FHLBank Atlanta 18 November 2010New York Reporter: Justin Lawson
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J.P. Morgan Worldwide Securities Services 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."
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