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JPMorgan (JPM) adopts - for the 3rd time this year - a new Value-at-Risk model for the CIO's...

JPMorgan (JPM) adopts - for the 3rd time this year - a new Value-at-Risk model for the CIO's synthetic credit portfolio. The new model lowered the bank's VaR by 24% to $115M in Q3. "VaR models change almost every time we talk," says Jamie Dimon. January's version was one of the reasons the CIO built up such positions to begin with. (earnings earlier)
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