J.P. Morgan Executes First Transaction of Hong Kong Monetary Authority Repo Financing Platform

Hong Kong, August 22, 2012 – J.P. Morgan has executed Hong Kong’s first HKD tri-party repo transaction between Bank of China (Hong Kong) Limited (“BOCHK”) and Barclays Bank plc (“Barclays”), the first such trade following the launch of the Hong Kong Monetary Authority’s (“HKMA”) cross-border collateral management service in June this year.

Facilitating transactions between international financial institutions and members of Hong Kong’s Central Moneymarkets Unit (“CMU”), the HKMA Repo Financing Program connects regional liquidity with global markets by utilizing international securities as collateral and providing an efficient channel for financial institutions seeking to widen their liquidity sources in HKD, renminbi (“CNH”), USD and EUR. In this instance, the transaction between BOCHK and Barclays leveraged the cross-currency, cross-border and global capabilities of the Repo Financing Program and J.P. Morgan platforms by mobilizing U.S. Treasuries against HKD liquidity.

Kirit Bhatia, Head of Technical Sales, Asia ex-Japan, J.P. Morgan Worldwide Securities Services, said: “This is an exciting milestone for Hong Kong as it points to the new opportunities for local and global firms seeking to participate more deeply in the region’s rapidly developing capital markets. We look forward to playing a key role in the market’s ongoing development.”

Please visit www.jpmorgan.com for more information on the Hong Kong Monetary Authority / J.P. Morgan Repo Financing Program (English / Traditional Chinese).  

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., WSS leverages the firm’s global scale, leading technology and deep industry expertise to service investments around the world. It has $17.7 trillion in assets under custody and $7.3 trillion in funds under administration. For more information, go to www.jpmorgan.com/wss.  

About JPMorgan Chase & Co.
JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $2.3 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.