Proposed defence bank head refuses to be drawn on NATO members' support [Yahoo! Finance Canada]
JP Morgan Chase & Co. (JPM)
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Source: Yahoo! Finance Canada
The bank is being proposed by the Defence, Security and Resilience Bank ?Development Group, with the aim of providing financing for defence, security, and infrastructure projects for NATO members and allied nations. No government has formally put money into the project yet, but a number of commercial banks including Deutsche Bank, JPMorgan and Canadian banks Royal Bank of Canada, BMO and TD Bank ?have signed up as partner banks. The ?group's CEO Rob Murray told a Chatham House event that a multilateral lender was needed for NATO countries' rearmament efforts, but steered clear of saying ?how much support it currently had. "I can't really comment on where nations are on this particular project," Murray said when asked if the DSRB could be located in Toronto and if Britain's Treasury had ?shown any ?sign of dropping its resistance to the bank. The ?DSRB's aim is to become a global ?state-backed bank with a triple-A credit rating capable of raising 100 billion pounds ($135 billi
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