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JPM Private Bank Reportedly Rejects NWD Stock as Collateral for Financing
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Rumor has it that JPMorgan's private bank informed its private banking clients before the Chinese New Year that it would stop accepting NEW WORLD DEV (00017.HK) stock as collateral for financing. This arrangement took effect last Tuesday (January 28). It is understood that the entry asset threshold for JPMorgan private bank clients is US$25 million (around $195 million). Regarding the above inquiry, a spokesperson for JPMorgan's private bank declined to comment. AAStocks Financial News |
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