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Report reveals 'turf battles' in NY Fed's supervision of JPMorgan Chase

Published Fri, Jan 9, 2015 · 09:50 PM
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Washington

THE Federal Reserve Bank of New York's overseeing of the JPMorgan Chase & Co office responsible for the US$6.2 billion trading loss attributed to the so-called London Whale was marked by "turf battles" and a tense relationship with another agency, according to a watchdog report released on Thursday.

The Fed's Office of Inspector General found a lac…

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