The State of Georgia Office of Treasury and Fiscal Services Selects JPMorgan Worldwide Securities Services as Securities Lending Agent; JPMorgan Worldwide Securities Services to Provide Non-Custody Lending Services.NEW YORK New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of -- JPMorgan Worldwide Securities Services announced today that it has been selected by the State of Georgia Office of Treasury and Fiscal Services (OTFS OTFS Office of Treasury and Fiscal Services ) as lending agent for two portfolios of US fixed income assets managed by OTFS. This is the first securities lending Securities Lending When a brokerage lends securities owned by its clients to short sellers. Notes: This allows brokers to create additional revenue (commissions) on the short sale transaction. arrangement for OTFS, since the Georgia State Legislature A state legislature may refer to a legislative branch or body of a political subdivision in a federal system. The following legislatures exist in the following political subdivisions: JPMorgan Worldwide Securities Services will provide non-custody securities lending services to OTFS, the cash and investment manager for the State of Georgia. "We chose JPMorgan Worldwide Securities Services because of the firm's long and successful experience in securities lending and their innovative approach to lending and market products," said Stephen J. Caffarelli, Assistant Director of OTFS. "OTFS is confident that JPMorgan Worldwide Securities Services is capable of providing the safety, liquidity and investment income the state needs." "OTFS conducted a thorough and rigorous examination before making its decision," said John Gaudioso, Vice President and head of JPMorgan's non-custody Securities Lending Sales team. "We were delighted that they selected us and recognized our superior credit expertise, tight operational controls, conservative investment practices and strong track record for delivering superior returns in a competitive marketplace." OTFS is responsible for receipt and disbursement DISBURSEMENT. Literally, to take money out of a purse. Figuratively, to pay out money; to expend money; and sometimes it signifies to advance money. 2. of state funds and lottery funds, management of the state's cash resources, Georgia Fund 1 and the Georgia Extended Asset Pool. OTFS also administers the Georgia Higher Education higher education Study beyond the level of secondary education. Institutions of higher education include not only colleges and universities but also professional schools in such fields as law, theology, medicine, business, music, and art. Savings Plan, a Section 529 college savings plan. About JPMorgan Worldwide Securities Services JPMorgan Worldwide Securities Services, a division of JPMorgan Chase JPMorgan Chase (NYSE: JPM TYO: 8634 ) is one of the oldest financial services firms in the world. The company, headquartered in New York City, is one of the leaders in investment banking, financial services, asset and wealth management and private equity. With assets of $1. Bank, N.A., is a global leader in providing innovative products and services to many of the world's largest institutional investors and debt and equity issuers. JPMorgan Worldwide Securities Services leverages its scale and capabilities in more than 80 markets to help clients optimize efficiency, mitigate risk and enhance revenue through custody and investor services as well as securities clearance and trust services. JPMorgan Chase & Co. is a leading global financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. firm with assets of $1.2 trillion and operations in more than 50 countries. The firm is a leader in investment banking, financial services for consumers and businesses, financial transaction processing, asset and wealth management, and private equity. Under the JPMorgan, Chase and Bank One brands, the firm serves millions of consumers in the United States and many of the world's most prominent corporate, institutional and government clients. Information about JPMorgan Chase & Co is available on the Internet at www.jpmorganchase.com. |
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