Some of the world’s biggest central banks have announced a programme of co-ordinated action designed to support the global financial system.
Tag: Banks
Bank Order Led to Losing Trades
J.P. Morgan’s Efforts to Shield Itself From European Market Fallout Prompted Disastrous Bets
J.P. Morgan Chase & Co. told traders several months ago to make bets aimed at shielding the bank from the market fallout of Europe’s deepening mess. But instead of shrinking the risk, their complicated bets backfired into losses of as much as $200 million a day in late April and early May, people familiar with the situation said.
Trading Pick-Up Masks Investment Bank Pain Ahead
A pick-up in trading revenue in the first quarter of 2012 disguises a chilling future for investment banks who need to drastically cull their business under new regulation.