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Citigroup Lands Big FHLB Contract.(Brief Article)
Citigroup Global Transaction Services has been appointed custodian for $300 billion in assets serviced by seven of the 12 Federal Home Loan Banks, collectively representing what the company says is "one of the largest such appointments in the history of the transaction services industry."
Citigroup said it has been appointed as custodian for the Federal Home Loan Banks of Chicago, Des Moines, Indianapolis, New York, Pittsburgh, San Francisco and Topeka, Kan. Prior to this appointment, Citigroup already served as custodian for an additional $130 billion of assets serviced by the FHLBs of Atlanta and Boston.
Sandy Jaffee, head of financial institutions for Citigroup Global Transaction Services, said the company is pleased by the appointment.
"Taken together, these appointments reflect a strong vote of confidence in our ability to integrate our service offerings with our operations and technology platforms on the client's behalf," he said.
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Source: HighBeam Research, Citigroup Lands Big FHLB Contract.(Brief Article)