The Bank of New York has been ranked by Thomson Financial as the leading trustee for long-term municipal debt brought to market in 2003, in terms of principal amount.
The Bank of New York’s top ranking was based on its appointment as trustee for over $53 billion in principal amount of bonds issued during the year. The next closest provider was appointed as trustee for nearly $34.7 billion in bonds during the same period.
“Our strategic focus on providing exceptional trust services to tax-exempt issuers resulted in our top industry ranking, which is particularly rewarding in a year with unprecedented levels of municipal debt issuance,” says Karen B. Peetz, executive vice president and Head of the corporate trust division at The Bank of New York.