JPMorgan Chase & Co. : Fed's Alvarez Says Fed Hasn't Seen Other JPMorgan Risk Problems -Bloomberg News
06/18/2012| 09:03pm US/Eastern
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The Federal Reserve's general counsel, Scott Alvarez, will tell a U.S. House panel that central bank supervisors reviewing JPMorgan Chase & Co.'s (JPM) $2 billion-plus trading loss haven't found other weaknesses such as risk handling, Bloomberg News reported on its website Tuesday.
"The Federal Reserve continues to evaluate whether the governance, risk management and control weaknesses exposed by this incident may be present in other parts of the firm," the report quoted Alvarez as saying in remarks prepared for testimony to the House Financial Services Committee and obtained by the news agency.
"To date, we have found no evidence that they are, but this work is not yet complete," Alvarez said, Bloomberg reported.
Full story: http://www.bloomberg.com/news/2012-06-18/alvarez-says-fed-hasn-t-found-other-risk-weaknesses-at-jpmorgan.html
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