JP Morgan losses will be considered in Volcker rule finalisation, says Fed official
Scott Alvarez, general counsel of the Federal Reserve, today (June 19) said new comments regarding the Volcker rule, received after JP Morgan's large losses were revealed would be taken into account as the rule was finalised.
Testifying before the Committee on Financial Services at the US Congress, Alvarez said the rule in its current form took a multi-faceted approach to limit potential abuse of the hedging exemption and improve risk management of these activities, "while not unduly
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