10/09/03
NEW YORK, N.Y., October 9, 2003 - The Bank of New York announced today that it was ranked the leading overall debt trustee for tax-exempt issues in terms of principal amount for the first nine months of 2003 by Thomson Financial.
The Bank of New York’s top ranking was based on its appointment as trustee for over $42 billion in principal amount of bonds issued during this period. The next closest provider was appointed as trustee for over $26 billion in bonds. The rankings considered the Bank’s selection as trustee on long-term municipal new issues (by dollar amount). Thomson Financial provides the securities industry with a wide array of market volume statistics, including data on publicly held debt for the corporate trust industry.
Karen B. Peetz, executive vice president and head of the corporate trust division at The Bank of New York, said, "Our number one ranking reflects our commitment to providing quality trust services to a wide range of tax-exempt debt issuers. Our clients continue to award us new business because of our ability to customize our services, the local support we provide through our nationwide network trust offices and our innovative technologies."
The Bank of New York is a leading provider of corporate trust and agency services. The Bank and its subsidiaries and affiliates administer a portfolio of more than 85,000 trustee and agency appointments, representing more than $1 trillion in outstanding securities for more than 30,000 clients around the world. The Bank is a recognized leader for trust services in several debt products, including mortgage-backed and asset-backed securities, corporate and municipal debt, derivative security services and international debt offerings.
The Bank of New York Company, Inc. (NYSE: BK) is a global leader in securities servicing for issuers, investors and financial intermediaries. The Company plays an integral role in the infrastructure of the capital markets, servicing securities in more than 100 markets worldwide. The Company provides quality solutions through leading technology for global corporations, financial institutions, asset managers, governments, non-profit organizations, and individuals. Its principal subsidiary, The Bank of New York, founded in 1784, is the oldest bank in the United States and has a distinguished history of serving clients around the world through its five primary businesses: Securities Servicing and Global Payment Services, Private Client Services and Asset Management, Corporate Banking, Global Market Services, and Retail Banking. Additional information on the Company is available at www.bankofny.com.
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