Reuters: Regulatory News: NY Fed knew about JPMorgan's trading loss -source

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NY Fed knew about JPMorgan's trading loss -source May 11th 2012, 20:57 NEW YORK | Fri May 11, 2012 4:57pm EDT NEW YORK May 11 (Reuters) - The Federal Reserve Bank of New York had been aware of JPMorgan Chase & Co's big trading loss and is currently monitoring the situation, according to a source close to the situation. The Fed bank, which is JPMorgan's primary regulator, aims to ensure banks are sufficiently capitalized to withstand such trading mistakes, not to prevent them, the source said.

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