Event Co-Sponsored with PricewaterhouseCoopers Focuses on Importance of Securitization Markets

NEW YORK, October 1, 2009 — BNY Mellon Corporate Trust co-sponsored a proprietary panel event "Rebuilding the Mortgage Market, Loan by Loan" that included distinguished panelists and speakers who focused on the importance of the securitization markets to the country's economic recovery. The event, co-sponsored with PricewaterhouseCoopers, was attended by more than 100 market participants and held at The Sphinx Club in Washington, DC.

The featured keynote address was delivered by Douglas Duncan, vice president and chief economist of Fannie Mae, and was followed by two panel discussions – "Warehouse Lending and Finance: The New Landscape" and "Mortgage-backed Securities Market: A New Paradigm."

"This event was born out of a belief that an unfreezing of the credit markets is unlikely without a restructuring of the securitization markets and this fact remains a key element in the depth and persistence of the current financial crisis," said Scott Posner, chief executive officer of BNY Mellon Corporate Trust. "Since our company is neither a mortgage originator nor underwriter of mortgage bonds, we are fully committed to servicing this market as an independent third party with solutions that enhance the confidence and trust of market participants."

"Warehouse Lending and Finance," which was moderated by John Gibson, partner at PricewaterhouseCoopers, featured Elaine Batlis, Silvergate Bank; Andrew Bonsalle, Fannie Mae; Larry Platt, K&L Gates; Jeff Taylor, Digital Risk; and Daniel McLaughlin as panelists. "Mortgage-backed Securities Market," whose panelists included Ron D'Vari, New Oak Capital; Chris Gavin, Mayer Brown; Mark Hanson, Freddie Mac; Mark Johnson, GE Asset Management, and Brian Lancaster, Royal Bank of Scotland, was led by Patrick Tadie, executive vice president of structured credit at BNY Mellon.

BNY Mellon Corporate Trust services nearly $12 trillion in outstanding debt from 58 locations in 20 countries. Its clients include governments and their agencies, multinational corporations, financial institutions and other entities that access the global debt capital markets. The corporate trust business utilizes its global footprint and expertise to deliver a full range of issuer and related investor services and develop customized and market-driven solutions. Its range of core services includes debt trustee, paying agency, escrow and other fiduciary offerings.

BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK). BNY Mellon is a global financial services company focused on helping clients manage and service their financial assets, operating in 34 countries and serving more than 100 markets. The company is a leading provider of financial services for institutions, corporations and high-net-worth individuals, providing superior asset management and wealth management, asset servicing, issuer services, clearing services and treasury services through a worldwide client-focused team. It has $20.7 trillion in assets under custody and administration, $926 billion in assets under management, services $11.8 trillion in outstanding debt and processes global payments averaging $1.8 trillion per day. Additional information is available at www.bnymellon.com.