U.S. Bank Completes Acquisition of Securitization Trust Administration Business from Bank of America

U.S. Bancorp

announced today that its lead bank, U.S. Bank National Association, has completed the acquisition of the domestic and European-based securitization trust administration businesses of Bank of America, N.A. The transaction closed on December 30, 2010. Under the terms of the agreement, U.S. Bank Corporate Trust Services acquired approximately 2,153 active securitization and related transactions, more than 2.4 million residential mortgage files and 84,000 commercial files, and $1.1 trillion in assets under administration. Additionally, the transaction provided U.S. Bank with approximately $8 billion of related deposits at close.