Derivative Trading Transparency
Citigroup (NYSE:C), Bank of America (NYSE:BAC), Goldman Sachs (NYSE:GS) and JPMorgan Chase (NYSE:JPM) are on the hot seat this month, as the four gigantic financial institutions are being pressured to reveal the collateral they are using to back up their derivative plays.
A total of 15 charity groups are behind the initiative, and there will be a vote held sometime in April to decide if the companies will be forced to reveal the information to their shareholders.
Actually the vote will be nonbinding, but it will put pressure on the institutions to reveal more information or be seen in a negative light or that they may be hiding something.
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