Reserve managers rank JP Morgan top for custody and banking
BlackRock preferred for knowledge transfer and capacity building
JP Morgan is central bank reserve managers’ top choice for custody and banking services, the Reserve Benchmarks 2023 reveal.
JP Morgan is rated highest for custodial services, taking 36.6% of the points on offer. HSBC (21.4%) and BNY Mellon (15.2%) are the next most highly rated financial institutions.
Respondents were asked to state their top three counterparties. Firms were awarded three points for first place, two for second and one for third.
JP Morgan is also rated as providing the best
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