Goldman, JPMorgan Post Identical Swap Exposure to Europe Nations
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JPMorgan Chase & Co. and Goldman Sachs Group Inc., two of the largest derivatives dealers, posted identical gross notional amounts of credit-default swaps bought and sold on five troubled European nations.
JPMorgan purchased single-name contracts protecting $147.3 billion of debt and sold $142.4 billion related to the so-called GIIPS nations of Greece, Ireland, Italy, Portugal and Spain, the bank said in its annual filing today. Goldman Sachs disclosed the exact same figures in a filing yesterday. In both cases, the numbers were as of Dec. 31.