Too big to lend? JPMorgan cash hit Fed limits, roiling U.S. repos
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NEW YORK (Reuters) - JPMorgan Chase & Co has become so big that some rival banks and analysts say changes to its $2.7 trillion (2.2 trillion pounds) balance sheet were a factor in a spike last month in the U.S. "repo" market, which is crucial to many borrowers. Rates in the $2.2 trillion market for repurchase agreements rose as high as 10% on September 17 as demand for overnight cash from companies, banks and other borrowers exceeded supply.While not seen as an sign of distress as it was during..