The Federal Reserve’s chief attorney said central bank supervisors reviewing a trading loss of at least $2 billion at JPMorgan Chase & Co. haven’t found other weaknesses, such as handling of risk, at the firm.
The Federal Reserve’s chief attorney said a two-year delay in identifying recipients of emergency loans from the central bank is appropriate and that a shorter lag may harm the financial system and U.S. economy.
Jennifer Cavallaro’s Twitter feed usually deals with matters like the free-range egg salad she serves at her Beehive Café in Bristol, Rhode Island. On May 17, 2010, she blasted a different message to her followers.
U.S. House members criticized regulators yesterday for failing to detect JPMorgan Chase & Co.’s loss of at least $2 billion on risky derivatives trades and pressed for additional measures to ensure similar losses don’t occur in other banks.
Using a secret enforcement tool, federal regulators in 2005 tried to limit the growth of Vineyard Bank, which was making commercial real estate loans in Southern California at almost double the rate of its peers.
The U.S. Federal Reserve was given a week to tell a federal judge its position on immediately rewriting regulations setting debit card swipe fees in the wake of a court found the current rule unlawful.