Fed Backtracking on Merchant Rules
American Banker (10/26/00) Vol. 104, No. 42 p.1; Rehm, Barbara A.
Chase's equity investment unit's third-quarter losses
are mentioned in an American Banker piece about the pressure on
the Federal Reserve Board to back down from its plan to create
strict capital requirements for merchant banking investments.
Though the losses at the Chase unit demonstrate the risk of
merchant banking, the article says, pressure on the Fed probably
means the Fed will not try to "make it tougher."