Banks face physical commodity curbs

Financial executives expect the Fed to issue guidelines as soon as this month limiting bank participation in so-called physical commodities businesses

Wall Street is bracing for a ruling that may hasten the exit of JP Morgan Chase, Goldman Sachs and Morgan Stanley from businesses such as metals warehousing, oil shipping and power generation.

Financial-industry executives expect the Federal Reserve to issue guidelines as soon as this month limiting bank participation in so-called physical-commodities businesses.

WSJ Logo
Pro Bono or Pro Nono? Law Firms Split on Fulfilling Deals With TrumpExternal link

Pro Bono or Pro Nono? Law Firms Split on Fulfilling Deals With Trump