Fed Officials Said to Seek More Information on JPMorgan Trade
Federal Reserve officials are gathering more information about the trading position that led to a $2 billion loss at JPMorgan Chase & Co., which they have known about for several weeks, according to a person familiar with the matter.
Fed officials don't view it as their role to approve or reject individual trades at banks, the person said. Rather, their job is to ensure the firms have sufficient capital to withstand losses, said the person, who wasn't authorized to discuss the matter and asked not to be identified.
Article by Bloomberg News
By Craig Torres and Caroline Salas Gage