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To: geewiz who wrote (17101)	11/17/1998 12:24:00 PM
From: John Hunt	Respond to of 18056

CyclePro - Bank Derivative Exposure Report geocities.com << The main problem currently being faced by the FED and the banks is what to do next. If interest rates are lowered again, it may cause rate-sensitive derivatives to generate extreme losses for the banks. Chase has $2.2 Trillion in derivative exposure that expires in less than one year, JPMorgan has $1.6 Trillion exposure. In addition, adjusting interest rates will also affect currency exchange rates. Chase and Citibank each hold $1.4 Trillion of foreign currency derivatives, and JPMorgan holds $829 Billion, all expiring in less than one year. If you have ever wanted to witness an ultra-high stakes situation where the players were literally "between a rock and a hard place", this has got to be the very best example that you will ever see. Unfortunately, none of the information will be made public (if at all) until well after the major events have taken place. >> This has been posted a couple of other places, but it is important enough to bring to everyone's attention, in case some missed it.