Thomson Financial has once again ranked Bank of New York as the leading trustee for new US asset-backed securities (ABS) and mortgage-backed securities (MBS). The data, gathered by Thomson Financial, pertains to the first half of 2002.
Thomson Financial’s domestic debt issuance and market share statistics for the first six months of 2002 confirmed The Bank of New York’s first-place ranking for the ABS and MBS markets. The Bank of New York maintained its first-place ranking with 48 issues and $34.8 billion in proceeds for ABS and 43 issues and $18.2 billion in proceeds for MBS. The Bank has ranked number one in ABS issues, on a yearly basis, from 1995 through 2001, and was ranked number one in MBS issues for 2001.
“We are proud to have maintained our ranking as the number one trustee,” says Richard Costantino, senior vice president and head of structured financial services in the Bank’s Corporate Trust Division. “Our ability to consistently rank as a leader in these complex asset classes is directly attributed to our dedicated professionals and our diverse experience. Our long-standing client relationships have allowed the Bank to consistently grow our market share.”
The Bank of New York currently administers a portfolio of more than 80,000 trustee and agency appointments, representing more than $1 trillion in outstanding securities for more than 30,000 clients around the world.