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The regulators' proposal doesn't consider accounting rules for deciding which trades are proprietary and which ones get the exemption for hedging. That leaves plenty of room for regulatory arbitrage by banks.
May 31 -
Senate Banking Committee chairman invites JPMorgan Chase CEO to explain his bank's $2 billion trading loss.
May 25 -
All would be well advised to confine criticisms and recommendations to mitigating JPMorgan's systemic risk. What remain are decisions that affect stakeholders. The bank's owners have already spoken in favor of their CEO, and rightly so.
May 25
WASHINGTON — The Senate Banking Committee announced Thursday that it had pushed back its hearing with Jamie Dimon to June 13.
The panel initially said last week that it would hold a hearing with the chairman and chief executive officer of JPMorgan Chase (JPM) on June 7. However, a panel spokesman said that June 13 was "the only date in June that works for both the Senate Banking Committee and Mr. Dimon."
The panel is still expected to hold a hearing June 6 with regulators from the Office of the Comptroller of the Currency and the Federal Reserve Board about JPMorgan's recent trading loss.
