Tarullo Says Fed Helping Oversight of JPMorgan Portfolio
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Federal Reserve Governor Daniel Tarullo said the central bank is helping oversee JPMorgan Chase & Co.’s management of a portfolio that lost $2 billion in a credit-derivatives position.
“The Federal Reserve has been assisting in the oversight of JPMorgan’s efforts to manage and de-risk the portfolio,” Tarullo said in comments prepared for testimony tomorrow before the Senate Banking Committee in Washington.