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.
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.
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.
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.
State and local pensions struggling after years of underfunding and weak investment returns may look even worse under new rules that will limit accounting techniques that hide the extent of liabilities.
Former International Monetary Fund chief economist Simon Johnson met with Federal Reserve staff members today and said he doesn’t believe the central bank will heed his call to remove JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon from the New York Fed board of directors.