U.S. Bank will acquire securitization businesses from BofA

11/16/2010 | CNBC

U.S. Bancorp subsidiary U.S. Bank is poised to purchase Bank of America's securitization trust administration businesses in the U.S. and Europe in a deal that could be worth as much as $35 million. The move will bolster U.S. Bancorp's market share in residential mortgage-backed securities and collateralized debt obligations. It will also bolster U.S. Bank's deposit base by about $10 billion.

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