Article: FEDERAL RESERVE BANK OF NEW YORK ISSUES STATEMENT ON FINANCING ARRANGEMENT RELATED TO JPMORGAN CHASE'S ACQUISITION OF BEAR STEARNS

The Federal Reserve Bank of New York issued the following statement:

The Federal Reserve Bank of New York announced today that it expects to conclude the arrangements necessary for the financing of JPMorgan Chase & Co.'s acquisition of Bear Stearns Companies Inc. on or about June 26, 2008. The New York Fed, in coordination with JPMorgan Chase, is working carefully and expeditiously to put in place the operational arrangements necessary for the transfer of the portfolio to take place. The ...

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