23.07.2013 - Wall Street commodity trading in Jeopardy amid Fed review
JPMorgan Chase & Co. (JPM), Morgan Stanley (MS) and Goldman Sachs Group Inc. (GS) are among lenders whose commodity-trading is in jeopardy as the Federal Reserve reconsiders letting banks ship oil and store metal. The central bank, ahead of a Senate subcommittee hearing on the issue tomorrow, says itís reviewing a decade-old ruling to let deposit-taking banks trade physical commodities. A reversal would be the Fedís biggest exclusion of banks from a market since Congress lifted the Depression-era law against them joining with securities firms in 1999...............................................Full Article: Source
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