JP Morgan Worldwide Securities Services has been selected by Federal Home Loan Bank of Chicago (FHLB Chicago) to provide custody services for FHLB Chicago’s own investment portfolio and for assets FHLB Chicago holds for its member financial institutions.
FHLB Chicago 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 provide member financial institutions with short-term liquidity and long-term funding and support for community investment activities.
“We selected JP Morgan because of its integrated product offering, advanced technology and reporting platforms and deep knowledge of our specific industry and underlying clients," says John Stocchetti, Executive Vice President of Operations and Technology at FHLB Chicago. "We are confident that J.P. Morgan’s expertise in delivering custody and safekeeping services will allow us to better serve the member financial institutions with which we work."
Robert Caporale (pictured), head of new business development – Americas, JP Morgan Worldwide Securities Services, says: “JP Morgan is proud to add Federal Home Loan Bank of Chicago to our growing roster of Federal Home Loan Bank clients. We believe that our proven experience, comprehensive products and quality service are well suited for the needs of the Federal Home Loan Bank System.”