Breaking News
  • DOJ planning to sue Moody's over crisis-era mortgage bond ratings

    In the fallout from the financial crisis, many argued that the credit ratings agencies’ competition for business led to ratings shopping among bond issuers and relaxed ratings standards for the ratings agencies themselves. Last year, Standard & Poor's reached a $1.375 billion settlement over just such claims. And now the Department of Justice is taking aim at Moody's Investors Service. Click the headline to read more.

Lending The Ticker

JPMorgan Chase utilizes Federal Home Loan Banks to meet Basel rules


According to Bloomberg, JPMorgan Chase (JPM) is using cheap funding from government-chartered institutions to meet new regulations designed to ensure it won’t need a taxpayer bailout in the future. As Bloomberg explains:

The bank borrowed almost $20 billion in the first half of the year from Federal Home Loan Banks, according to filings, almost as much as it got from selling dollar-denominated bonds in 2013. New York-based JPMorgan, with $2.4 trillion of assets, obtained most of the loans from the Federal Home Loan Bank of Cincinnati, whose 740 members typically resemble the $139 million-asset Bank of McCreary County in Kentucky and $40 million-asset Rural Cooperatives Credit Union.

Source: Bloomberg

Services Guide

Comments powered by Disqus