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J.P. Morgan Regulators Testify Before Senate

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  • Description

    FBN's Peter Barnes reports from inside the beltway.

  • Duration 1:15
  • Date

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Washington regulators testifying before the senate banking committee over what to do following JPMorgan's over two billion dollars and losses.

Peter Barnes joins us now from inside -- -- way hit Peter so let's get in trouble now.

The head of the comptroller of the currency -- the bank's primary regulator he says it is investigating whether the bank provided proper information to the OCC.

About its trading activities before the bank disclosed these losses.

We are not limiting our inquiry to the particular transactions at issue.

We are assessing the adequacy of risk management throughout the bank.

We are using these events to broadly about -- effectiveness.

Of the bank's risk management of -- CIO function.

And to identify ways to improve our supervision.

Currie said the loss does not -- -- pose a threat to the bank itself or to the broader financial system JPMorgan has plenty of capital to absorb losses he said.

He also said the agency has examined the other big banks and has found no activity similar to the scale or complexity.

JPMorgan's.

-- -- Barnes good stuff thank you Peter.

I've we've got --

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