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“We just keep piling on lots of operational risk as we convert one form of collateral into another.” “The dealers look after their own interests, and they won’t necessarily look after the systemic risks that are associated with this.” Bloomberg JPMorgan Chase and Bank of America are helping clients find an extra $2.6 trillion to back derivatives trades amid signs that a shortage of quality collateral will erode efforts to safeguard the financial system. Starting next [...] by ZH When we announced the news of Jamie Dimon’s surprising announcement, we said that “Since we are now obviously replaying the entire credit crisis, from beginning to end, must as well go all in. Now – who’s next? And perhaps just as importantly, who isn’t.” Who isn’t it turns out are 4 banks that did not pass the Fed’s stress test results. These are SunTrust, naturally Ally, MetLife and… Citi. [...] |
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