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JP Morgan Trading Losses: Implications for the Volcker Rule and Other Regulation
JP Morgan Trading Losses: Implications for the Volcker Rule and Other Regulation
Our Price: $20.00
By Gary Shorter (au); Edward V. Murphy (au); Rena S. Miller (au)
Year: 2012
Pages: 34
Binding Paperback
ISBN 978-1-4578-3853-8

Product Code: 1457838532

On May 10, 2012, JP Morgan disclosed that it had lost more than $2 billion by trading financial derivatives. Jamie Dimon, CEO and chairman of JP Morgan, reported that the bank劌製 Chief Investment Office (CIO) executed the trades to hedge the firm劌製 overall credit exposure as part of the bank劌製 asset liability management program (ALM). The CIO operated within the depository subsidiary of JP Morgan, although its offices were in London. The funding for the trades came from what JP Morgan characterized as excess deposits, which are the difference between deposits held by the bank and its commercial loans. The trading losses reaulted from an attempt to unwind a previous hedge investment, although the precise details remain unconfirmed. The losses occurred in part because the CIO chose to place a new counter-hedge position, rather than simply unwind the original position. In 2007 and 2008, Contents of this report: Introduction; JP Morgan and Its CIO; The Alleged Growth in the CIO劌製 Appetite for Risk; The Losing Trades; The Regulation of JP Morgan in the Context of the CIO劌製 Trades; 劌鞙oo Big to Fail劌 and the Financial Stability Oversight Council; Systemic Implications of JP Morgan劌製 Losses; The Potential Implications of JP Morgan劌製 Losses for Other Large Banks; The Volcker Rule and JP Morgan劌製 CIO Transactions; Potential Risk Management Shortcomings Related to the CIO. Figures. This is a print on demand report.

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