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Board of Governors of the Federal Reserve System
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Press Release

Federal Reserve Press Release

Release Date: July 7, 2011

For immediate release

The Federal Reserve Board on Thursday announced the execution of a Written Agreement by and between JPMorgan Chase & Co., New York, New York, a registered bank holding company, and the Federal Reserve Bank of New York. The agreement addresses issues associated with anti-competitive activities at JPMorgan Chase by certain employees in conjunction with the sale of certain derivative financial products to municipalities and other non-profit organizations in competitively bid transactions between 1999 and 2005.

In separate, coordinated actions, the Office of the Comptroller of the Currency announced the execution of a Formal Agreement and Consent Order for a Civil Money Penalty with JPMorgan Chase Bank, N.A., Columbus, Ohio, a wholly owned subsidiary of JPMorgan Chase & Co. Actions were also taken by the U.S. Securities and Exchange Commission, the Internal Revenue Service, the Antitrust Division of the U.S. Department of Justice, and 25 state attorneys general.

For media inquiries, call 202-452-2955.

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Last update: July 7, 2011