First Republic Buys MBS with CBO Proceeds

Published February 28, 2003, 3:00 p.m. EST

1 Min Read

First Republic Bank, San Francisco and its subsidiary, Trainer Wortham & Co., has reported that they have completed a $300 million collateralized bond obligation, the net proceeds of which have been used to purchase a portfolio of mortgage-related securities.The diversified portfolio purchased consists primarily of asset-backed, investment grade securities. These ABS are primarily residential mortgage-backed securities and commercial MBS. First Republic can be found online at http://www.firstrepublic.com.

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