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MercoPress, en Español

Montevideo, November 15th 2024 - 08:29 UTC

Tag: Sherwood Brown

  • Saturday, July 27th 2013 - 20:13 UTC

    US largest bank moving out of the commodities business; Congress investigation

    Regulators need to take a “long, hard look at the practice of banks holding physical commodities” said US Congress member Brown

    New York-based JPMorgan, the largest US bank, said that it’s “pursuing strategic alternatives,” including the sale or spin-off of its commodities business, after an internal review. The statement came three days after a US congressional hearing investigated whether deposit-taking banks should be allowed to trade raw materials such as oil and industrial metals.