J.P. Morgan Drives Securities Lending Debate in Sweden

London, 24 November 2009 – J.P. Morgan’s Worldwide Securities Services business recently organised and hosted a roundtable with Swedish investors, borrowers and other industry participants including the International Securities Lending Association (ISLA) to debate the current regulatory, risk and execution challenges impacting securities lending.

During the first public industry wide discussion about securities lending held in Sweden in many years, market participants debated the potential benefits as well as the potential challenges relating to lending securities in global markets by Swedish Investors.

Topics included barriers to entry, current and future regulation in Sweden and globally, and the benefits to Swedish funds and to market liquidity.  ISLA presented an overview of the current market environment, the impact of the credit crisis and Lehman's default on lending as well as commenting on the role of short-selling within securities lending.

Neal Meacham, Head of Client Management Markets Securities Services at Swedbank and a participant in the roundtable, said: “This forum was very informative and a valuable opportunity to discuss such an important and widely-debated topic with my counterparts and other market participants.”

Kevin McNulty, Chairman of ISLA and co-host of the roundtable, said: “I hope this is just the beginning of the education process in Sweden, where institutional investors to date have been reluctant to participate in lending and borrowing securities.”

Paul Wilson, global head of sales and relationship management for securities lending at J.P. Morgan Worldwide Securities Services, said: “We were pleased to have so many important market players participate in this important forum, and are looking forward to continuing to help educate beneficial owners and market participants throughout Europe about the evolving securities lending industry.”

About J.P. Morgan Worldwide Securities Services
J.P. Morgan Worldwide Securities Services (WSS) is a premier securities servicing provider that helps institutional investors, alternative asset managers, broker dealers and equity issuers optimize efficiency, mitigate risk and enhance revenue. A division of JPMorgan Chase Bank, N.A. (NYSE: JPM), WSS leverages the firm’s unparalleled scale, leading technology and deep industry expertise to service investments around the world. It has $14.9 trillion in assets under custody and $5.1 trillion in funds under administration. For more information, go to www.jpmorgan.com/visit/wss.

About JPMorgan Chase & Co.
JPMorgan Chase & Co. (NYSE: JPM), is a leading global financial services firm with assets of $2.0 trillion and operations in more than 60 countries. The firm is a leader in investment banking, financial services for consumers, small business and commercial banking, financial transaction processing, asset management, and private equity. A component of the Dow Jones Industrial Average, JPMorgan Chase & Co. serves millions of consumers in the United States and many of the world's most prominent corporate, institutional and government clients under its J.P. Morgan and Chase brands. Information about JPMorgan Chase & Co. is available at www.jpmorganchase.com.