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Jpmorgan Chase London Whale G
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Book Synopsis JPMorgan Chase London Whale G by : Arwin G. Zeissler
Download or read book JPMorgan Chase London Whale G written by Arwin G. Zeissler and published by . This book was released on 2015 with total page 12 pages. Available in PDF, EPUB and Kindle. Book excerpt: In December 2013, the primary United States financial regulatory agencies jointly adopted final rules to implement Section 619 of the Dodd-Frank Wall Street Reform and Consumer Protection Act, which is often referred to as the “Volcker Rule”. Section 619 prohibits banks from engaging in activities considered to be particularly risky, including proprietary trading and owning hedge funds or private equity funds. Banking regulators designed the final rule against proprietary trading in part to prevent losses like the $6 billion London Whale loss that took place in 2012 at JPMorgan Chase. Given the controversial nature of the Volcker Rule, it is not surprising that the regulatory agencies received 18,000 comment letters, including a 67-page letter from JPMorgan Chase.
Book Synopsis JPMorgan Chase London Whale Z by : Arwin G. Zeissler
Download or read book JPMorgan Chase London Whale Z written by Arwin G. Zeissler and published by . This book was released on 2015 with total page 21 pages. Available in PDF, EPUB and Kindle. Book excerpt: In December 2011, the Chief Executive Officer and Chief Financial Officer of JPMorgan Chase (JPM) instructed the bank's Chief Investment Office to reduce the size of its Synthetic Credit Portfolio (SCP) during 2012, so that JPM could decrease its Risk-Weighted Assets as the bank prepared to adopt the impending Basel III bank capital regulations. However, the SCP traders were also told to minimize the trading costs incurred to reduce Risk-Weighted Assets, while still maintaining the opportunity to profit from unexpected corporate bankruptcies. In an attempt to balance these competing objectives, head SCP derivatives trader Bruno Iksil suggested in January 2012 that the SCP expand a strategy first implemented in 2011 to buy large volumes of certain credit derivatives, while simultaneously selling large volumes of other credit derivatives. The strategy quickly proved unsuccessful, and JPM's Chief Investment Officer ordered Iksil and the other SCP traders to halt this strategy on March 23. However, losses continued to mount as the credit derivative positions were unwound, ultimately reaching $6.2 billion by December 2012.
Book Synopsis JPMorgan Chase London Whale A by : Arwin G. Zeissler
Download or read book JPMorgan Chase London Whale A written by Arwin G. Zeissler and published by . This book was released on 2015 with total page 19 pages. Available in PDF, EPUB and Kindle. Book excerpt: In December 2011, the Chief Executive Officer and Chief Financial Officer of JPMorgan Chase (JPM) instructed the bank's Chief Investment Office to reduce the size of its Synthetic Credit Portfolio (SCP) during 2012, so that JPM could decrease its Risk-Weighted Assets as the bank prepared to adopt the impending Basel III bank capital regulations. However, the SCP traders were also told to minimize the trading costs incurred to reduce Risk-Weighted Assets, while still maintaining the opportunity to profit from unexpected corporate bankruptcies. In an attempt to balance these competing objectives, head SCP derivatives trader Bruno Iksil suggested in January 2012 that the SCP expand a strategy first implemented in 2011 to buy large volumes of certain credit derivatives, while simultaneously selling large volumes of other credit derivatives. The strategy quickly proved unsuccessful, and JPM's Chief Investment Officer ordered Iksil and the other SCP traders to halt this strategy on March 23. However, losses continued to mount as the credit derivative positions were unwound, ultimately reaching $6.2 billion by December 2012.
Book Synopsis JPMorgan Chase London Whale F by : Arwin G. Zeissler
Download or read book JPMorgan Chase London Whale F written by Arwin G. Zeissler and published by . This book was released on 2015 with total page 15 pages. Available in PDF, EPUB and Kindle. Book excerpt: On April 13, 2012, JPMorgan Chase (JPM) Chief Financial Officer Douglas Braunstein took part in a conference call to discuss the bank's first quarter 2012 earnings. Coming just a week after media reports first questioned the risks taken by JPM derivatives trader Bruno Iksil, Braunstein made a series of assertions about the trades. On May 10, JPM finalized its first quarter financial results, which included some disclosures regarding Iksil's trading that were substantially different from Braunstein's statements of April 13. At issue is whether the regulatory filings on April 13 and May 10, as well as verbal comments by Braunstein and Chief Executive Officer Jamie Dimon on those dates, were potentially misleading to investors and thus violated relevant securities laws enforced by the Securities and Exchange Commission.#
Book Synopsis JP Morgan Chase and the London Whale by : Jayanth R. Varma
Download or read book JP Morgan Chase and the London Whale written by Jayanth R. Varma and published by . This book was released on 2013 with total page 6 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis JP Morgan Chase and the London Whale by : Jayanth Varma
Download or read book JP Morgan Chase and the London Whale written by Jayanth Varma and published by . This book was released on 2013 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: In April 2012, JP Morgan Chase & Company was struggling with large losses that had the potential to damage the reputation of the company, of its Chairman, Jamie Dimon, and of its Chief Investment Officer, Ina Drew. Both Dimon and Drew needed to respond quickly to the losses of early 2012 to protect their own careers and to safeguard the interests of the company.
Book Synopsis JPMorgan Chase London Whale B by : Arwin G. Zeissler
Download or read book JPMorgan Chase London Whale B written by Arwin G. Zeissler and published by . This book was released on 2018 with total page 14 pages. Available in PDF, EPUB and Kindle. Book excerpt: After consistently producing positive results through 2011, the JPMorgan Chase (JPM) traders who oversaw the bank's Synthetic Credit Portfolio (SCP) grew alarmed by a consistent string of losses beginning in January 2012. (The SCP was maintained by JPM to help hedge default risk and was the source of the 2012 London Whale trading loss.) To minimize the losses reported to their superiors until such time that market prices hopefully turned in their favor, the SCP traders began valuing their largest derivative positions in a manner that was not consistent with Generally Accepted Accounting Principles (GAAP) and JPM policy. The fair values recorded by the SCP traders were reviewed by the Valuation Control Group, as required by banking regulators, and by JPM's Controller, but neither review raised any objection. However, after the JPM Task Force that investigated the 2012 London Whale incident uncovered evidence that the SCP traders had not estimated fair values in good faith, the bank restated its 1st quarter 2012 earnings on July 13, reducing consolidated total net revenue by $660 million (2.5%), which in turn reduced after-tax net income by $459 million (8.5%).
Book Synopsis The JPMorgan Chase Whale Trades by : Mikkel Skovgaard
Download or read book The JPMorgan Chase Whale Trades written by Mikkel Skovgaard and published by Nova Science Publishers. This book was released on 2013 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: JPMorgan Chase & Company is the largest financial holding company in the United States, with $2.4 trillion in assets. It is also the largest derivatives dealer in the world and the largest single participant in world credit derivatives markets. JPMorgan Chase has consistently portrayed itself as an expert in risk management with a "fortress balance sheet" that ensures taxpayers have nothing to fear from its banking activities, including its extensive dealing in derivatives. But in early 2012, the bank's Chief Investment Office (CIO), which is charged with managing $350 billion in excess deposits, placed a massive bet on a complex set of synthetic credit derivatives that, in 2012, lost at least $6.2 billion. The CIO's losses were the result of the so-called "London Whale" trades executed by traders in its London office; trades so large in size that they roiled world credit markets. This book provides an overview and background of the investigation of derivatives risks and abuses relating to the JPMorgan Chase Whale traders with accompanying testimony given before the Permanent Subcommittee on Investigations.
Book Synopsis The London Whale by : Natalie Packham
Download or read book The London Whale written by Natalie Packham and published by . This book was released on 2018 with total page 11 pages. Available in PDF, EPUB and Kindle. Book excerpt: On May 10, 2012, JPMorgan Chase & Co. started to report losses on its London based credit derivative portfolio. To date, these losses have accumulated to roughly USD~6.2 billion. In this document, we consolidate publicly available information on the JPMorgan case to provide a detailed review of the strategy, trading and risk management of the underlying portfolio.
Author :United States. Congress. Senate. Committee on Homeland Security and Governmental Affairs. Permanent Subcommittee on Investigations Publisher : ISBN 13 : Total Pages :1260 pages Book Rating :4.:/5 (319 download)
Book Synopsis JPMorgan Chase Whale Trades by : United States. Congress. Senate. Committee on Homeland Security and Governmental Affairs. Permanent Subcommittee on Investigations
Download or read book JPMorgan Chase Whale Trades written by United States. Congress. Senate. Committee on Homeland Security and Governmental Affairs. Permanent Subcommittee on Investigations and published by . This book was released on 2013 with total page 1260 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Regulation and Supervision of Banks by : Chen Chen Hu
Download or read book The Regulation and Supervision of Banks written by Chen Chen Hu and published by Routledge. This book was released on 2018-04-17 with total page 494 pages. Available in PDF, EPUB and Kindle. Book excerpt: Over the past two decades, the banking industry has expanded and consolidated at a stunningly unprecedented speed. In this time banks have also moved from focusing purely on commercial banking activities to being heavily involved in market-based and transaction-oriented wholesale and investment banking activities. By carrying out an all-encompassing set of activities, banks have become large, complex, interconnected, and inclined to levels of risk-taking not previously seen. With the onset of the 2008 global financial crisis it became apparent that there was an issue of institutions being too big to fail. This book analyses the too-big-to-fail problem of banks in the EU. It approaches the topic from an interdisciplinary perspective using behavioural finance as a tool to examine the occurrence of the global financial crisis and the emergence of the structural problem in large banking institutions. The book draws a comparison between the EU, the US and the UK and the relevant rules to assess the effectiveness of various approaches to regulation in a global context. Chen Chen Hu goes on to use behavioural analyses to provide new insights in evaluating the current structural reform rules in the EU Proposal on Bank Structural Regulation and the newly adopted bank recovery and resolution regime in the EU Bank Recovery and Resolution Directive and the Single Resolution Mechanism (SRM) in the Single Resolution Regulation.
Book Synopsis JPMorgan Chase Whale Trades:, ... S. Hrg. 113-96, Volume 1 of 2, March 15, 2013, 113-1 Hearing, * by : United States. Congress. Senate. Committee on Governmental Affairs
Download or read book JPMorgan Chase Whale Trades:, ... S. Hrg. 113-96, Volume 1 of 2, March 15, 2013, 113-1 Hearing, * written by United States. Congress. Senate. Committee on Governmental Affairs and published by . This book was released on 2014* with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis JPMorgan Chase Whale Trades:, ... S. Hrg. 113-96, Volume 2 of 2, March 15, 2013, 113-1 Hearing, * by : United States. Congress. Senate. Committee on Governmental Affairs
Download or read book JPMorgan Chase Whale Trades:, ... S. Hrg. 113-96, Volume 2 of 2, March 15, 2013, 113-1 Hearing, * written by United States. Congress. Senate. Committee on Governmental Affairs and published by . This book was released on 2014* with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The House of Dimon by : Patricia Crisafulli
Download or read book The House of Dimon written by Patricia Crisafulli and published by John Wiley & Sons. This book was released on 2011-01-04 with total page 278 pages. Available in PDF, EPUB and Kindle. Book excerpt: A behind-the-scenes look at Wall Street's top banker Following the eleventh-hour rescue of Bear Stearns by JP Morgan, Jamie Dimon's profile reached stratospheric levels. And while the deals and decisions he's made have usually turned out to be the right ones, his journey to the top of the financial world has been anything but easy. Now, in The House of Dimon, former business journalist Patricia Crisafulli goes behind the scenes to recount the amazing events that have shaped Dimon's career, from his rise to prominence as Sandy Weill's protŽgŽ at Citigroup to the drama surrounding his purchase of Bear Stearns and Washington Mutual. Each step of the way, this engaging book provides insider accounts of how Dimon successfully acquired and integrated companies, created efficiencies, and grew bottom-line results as the consummate hands-on manager. Includes interviews with Dimon himself, Sandy Weill, and colleagues who've known Dimon over the course of his career Shows how Dimon's management style and talent for taking calculated risks have allowed him to excel where many others have failed Places Dimon in the context of contemporary Wall Street, an environment that has destroyed several top CEOs During one of the most difficult and tumultuous periods in Wall Street history, Jamie Dimon has survived and thrived. The House of Dimon reveals how he's done it and explores what lies ahead for Dimon, as he attempts to grow JPMorgan in the face of the unrelenting pressures of Wall Street.
Book Synopsis The Law of Financial Institutions by : Richard Scott Carnell
Download or read book The Law of Financial Institutions written by Richard Scott Carnell and published by Aspen Publishing. This book was released on 2021-01-13 with total page 1101 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Law of Financial Institutions provides the foundation for a successful course on the law of traditional commercial banks. The book’s clear writing, careful editing, timely content, and concise explanations to provocative questions make a difficult field of law lively and interesting. New to the Seventh Edition: Unified analysis of different types of financial institution under a common framework, using simple mock balance sheets as a way of vividly illustrating the similarities and differences and bringing out the features that lend stability or instability to the financial system. A new chapter dealing with the important topic of financial technology. Extensive treatment of liquidity regulation, one of the most fundamental strategies for ensuring bank safety and soundness. A clear and coherent discussion of capital regulation and provides up-to-date explanations and simple examples of the complex issues surrounding capital adequacy applicable to banks today. A clear, coherent, and interesting account of the essential nature of the banking firm as a financial intermediary that acts as a payment service provider. Text that addresses issues of compliance and risk management that have become central to the management of banking institutions in the years since the financial crisis. Professors and student will benefit from: Important new contributions from Professor Peter Conti-Brown, a nationally renowned expert in banking policy and history Completely revised and updated to reflect important regulatory initiatives and trends Answers to all problem sets available to adopting professors Focuses on topics from economic, political, and doctrinal point of view Interesting and provocative questions with explanations Extensive use of nontraditional materials and professor-written discussions and explanations Excellent organization and careful editing
Book Synopsis Fixed Income Securities by : Bruce Tuckman
Download or read book Fixed Income Securities written by Bruce Tuckman and published by John Wiley & Sons. This book was released on 2022-09-07 with total page 569 pages. Available in PDF, EPUB and Kindle. Book excerpt: Build or brush up on the foundation you need to be a sophisticated fixed income professional with this proven book Fixed Income Securities: Tools for Today’s Markets has been a valued resource for practitioners and students for over 25 years. Clearly written, and drawing on a myriad of real market examples, it presents an overview of fixed income markets; explains the conceptual frameworks and quantitative tool kits used in the industry for pricing and hedging; and examines a wide range of fixed income instruments and markets, including: government bonds; interest rate swaps; repurchase agreements; interest rate futures; note and bond futures; bond options and swaptions; corporate bonds; credit default swaps; and mortgages and mortgage-backed securities. Appearing a decade after its predecessor, this long-awaited Fourth Edition is comprehensively revised with: An up-to-date overview, including monetary policy with abundant reserves and the increasing electronification of market All new examples, applications, and case studies, including lessons from market upheavals through the pandemic New material on fixed income asset management The global transition from LIBOR to SOFR and other rates
Book Synopsis The Corporate Contract in Changing Times by : Steven Davidoff Solomon
Download or read book The Corporate Contract in Changing Times written by Steven Davidoff Solomon and published by University of Chicago Press. This book was released on 2019-03-08 with total page 364 pages. Available in PDF, EPUB and Kindle. Book excerpt: Over the past few decades, significant changes have occurred across capital markets. Shareholder activists have become more prominent, institutional investors have begun to wield more power, and intermediaries like investment advisory firms have greatly increased their influence. These changes to the economic environment in which corporations operate have outpaced changes in basic corporate law and left corporations uncertain of how to respond to the new dynamics and adhere to their fiduciary duties to stockholders. With The Corporate Contract in Changing Times, Steven Davidoff Solomon and Randall Stuart Thomas bring together leading corporate law scholars, judges, and lawyers from top corporate law firms to explore what needs to change and what has prevented reform thus far. Among the topics addressed are how the law could be adapted to the reality that activist hedge funds pose a more serious threat to corporations than the hostile takeovers and how statutory laws, such as the rules governing appraisal rights, could be reviewed in the wake of appraisal arbitrage. Together, the contributors surface promising paths forward for future corporate law and public policy.
