Article: Banc of America Securities Announces Support of Covered Bond Market

To: NATIONAL EDITORS

Contact: Louise Hennessy, Bank of America, +1-646-855-1403, louise.hennessy@bankofamerica.com

NEW YORK, July 28 /PRNewswire/ -- Banc of America Securities LLC, the broker-dealer and wholly owned subsidiary of Bank of America Corporation, today announced its support for the development of a covered bond market in the United States.

(Logo: http://www.newscom.com/cgi-bin/prnh/20050720/CLW086LOGO- b)

The support follows the framework outlined in the Federal Deposit Insurance Corporation's (FDIC) July 15 covered bond policy statement * and the Best Practices for Residential Covered Bonds* statement introduced today by the U.S. Treasury Department, with the support of the ...

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