Federal Reserve Bank of New York selected JPMorgan’s Worldwide Securities Services unit as custodian of its mortgage-backed securities purchase program, confirmed Andrew Williams, a Fed spokesman.
The Fed’s program began Jan. 5 and will purchase up to $500 billion in MBS backed by Fannie Mae, Freddie Mac and Ginnie Mae.
BlackRock, Goldman Sachs Asset Management, PIMCO and Wellington are managers of the MBS pool; JPMorgan Chase will administer the program.
