Counterparty Risk Management Policy Group to Release Its Report and Recommendations.NEW YORK--(BUSINESS WIRE)--June 21, 1999-- The Counterparty Risk Management Policy Group will release a report of its recommendations to strengthen practices related to the management of market, counterparty credit, and liquidity risk at 1:00 p.m., Eastern daylight time, today. Members of the media are invited to attend a pre-release briefing at 12:00 noon, which will be hosted by the group's co-chairs, E. Gerald Corrigan E. Gerald Corrigan (born June 13, 1941) is an American banker and former president of the Federal Reserve Bank of New York. He is currently a Managing Director at Goldman Sachs. , Managing Director, Goldman, Sachs & Co., and Stephen Thieke, Managing Director, J.P. Morgan. The report will be available in hard copy at the briefing or via the Internet at http://www.crmpolicygroup.org/ at 1:00 p.m. The press briefing will be held at J.P. Morgan's offices, 15 Broad Street, New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. . Attendees are asked to bring press credentials, including photo identification and a business card. Those unable to attend may access a simultaneous interactive conference call by dialing (800) 621-5346 or (212) 346-6588 from outside the United States. The conference call confirmation number is 12588066. A post-briefing recording of the call will be available beginning at 3:00 p.m. by dialing (800) 633-8284 or (619) 812-6440 from outside the United States. Organized in January, following the market disruptions experienced in the late summer and early fall of 1998, the Counterparty Risk Management Policy Group is comprised of 12 major, internationally active commercial and investment banks. The group was formed to develop flexible standards for strengthened risk management practices at banks, securities firms, and other dealers in international financial markets. Members of the group include senior-level practitioners from the following organizations: Barclays Capital (BARC), Bear Stearns (BSC (Binary Synchronous Communications) See bisync. ), Chase (CMB Noun 1. CMB - (cosmology) the cooled remnant of the hot big bang that fills the entire universe and can be observed today with an average temperature of about 2. ), Citigroup (C), Credit Suisse First Boston Credit Suisse First Boston was originally the trading name of the Financière Crédit Suisse-First Boston, a London-based 50-50 investment banking joint venture formed in 1978 between the First Boston Corporation and Credit Suisse. (CSGN CSGN Cyber Sports Gaming Network (UK) CSGN coordinating subgroup for narcotics (US DoD) CSGN Strike Cruiser, Nuclear Powered (US Navy ship designation) SW), Deutsche Bank (DBK GR), Goldman, Sachs & Co. (GS), Lehman Brothers (LEH), Merrill Lynch (MER), J.P. Morgan (JPM), Morgan Stanley Dean Witter (MWD), and Warburg Dillon Read Investment bank created by the 1997 merger of S.G. Warburg & Co. and Dillon, Read & Co. Subsequently renamed UBS Warburg and now part of UBS AG, where the Warburg name was eventually dropped. (UBS AG)(UBSN SW). |
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