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To: Hawkmoon who wrote (78724)10/22/2001 11:20:27 AM
From: LLCF  Respond to of 116752
 
<Not saying JPM isn't heavily exposed, but it depends on the quality of the derivatives positions they hold. >

Exactly... and all banks are now on board 'netting agreements', so if JPM is long a billion bonds vs Solly and short a different maturity with Solly they are netted out in case it's ever an issue. I believe Congress [urged by Greenspan] has also made these legally binding but I'm not sure. Only the banks themselves really know the exposure IMO.

I do know from personal experience that the credit departments are all over traders about counterparty risk, at times we weren't able to trade with folks because we were limit with various names.

DAK



To: Hawkmoon who wrote (78724)10/22/2001 12:09:48 PM
From: lorne  Read Replies (1) | Respond to of 116752
 
Hi Hawkmoon. About this....." JPM's (combined JPMorgan & Chase) netted
derivative holdings is $22.3 trillion, their market capitalization is currently $61.2 billion
Just curious.... Who do you think holds the other side of these derivative positions?".....
Is it possible that a corporation the size of JP Morgan
could somehow hold both sides of the derivative position. ?
Don't know much about these things.
Lorne


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