A JPMorgan Chase & Co. unit suspended from market-based power trading in California may be evading the ban through swap agreements with EDF Group and Cargill Inc. subsidiaries, the state’s grid operator said.
Portugal reached an agreement with some banks to reduce an approximately 3 billion-euro ($3.9 billion) “toxic” bill from derivative contracts that the lenders signed with state-owned companies, said Maria Luis Albuquerque, the secretary of state for treasury and finance.
The U.S. Treasury Department’s inspector general has threatened to punish JPMorgan Chase & Co. for failing to turn over documents to regulators investigating the bank’s ties to Bernard Madoff’s Ponzi scheme.
A JPMorgan Chase & Co. unit reached a $100 million settlement with MF Global Inc. liquidators over the bank’s conduct in the days before and after the brokerage’s collapse, paving the way for the return of money to its former customers.
EverBank Financial Corp. and JPMorgan Chase & Co. are planning to sell securities backed by $924 million of new U.S. home loans without government backing in deals that would double the number of issuers in the so- called non-agency market since the debt caused a global crisis.
A suspension of electronic payments in Vatican City is threatening finances in the world’s smallest state as pilgrims and tourists are forced to use cash in museums and shops with yearly sales of more than $100 million.