JPMC brushes off downgrade
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NEW YORK -- JP Morgan Chase’s rating downgrades last week will have a "minimal" impact on forex business at the bank, according to an un-named official.
"As long as the story ends here, there won’t be too much disruption in foreign exchange," said the official. "We’re not the most capital-intensive business."
He pointed out that the bank remains rated AA-, higher than "a lot of our competitors", but conceded that any further downgrades would cause problems in FX. When the bank achieved the
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