The $ 2.3 billion charge this quarter brings J . P . Morgan's total legal reserves to $ 4.7 billion.
12.
This group differed from the NFC in that it only allowed orders that had adopted the legal reserve system to be members.
13.
But those figures exclude an after-tax charge of $ 96 million, or 63 cents a share, taken to bolster the firm's legal reserves.
14.
On Thursday, Bristol-Myers reported its second-quarter earnings fell 42 percent because of the increased legal reserves and company writeoffs of research and development costs.
15.
The $ 2 . 3 billion charge this quarter brings J . P . Morgan's total legal reserves to $ 4 . 7 billion.
16.
This practice, which is known as fractional reserve banking, permits the total supply of credit to exceed the liquid legal reserves of the bank.
17.
Excluding the legal reserve and other one-time events, earnings were $ 722 million, or 15 cents a share, a penny more than analysts expected.
18.
It can do this by raising banks'legal reserve requirements _ the amount of money they must keep on hand _ but that happens rarely.
19.
In other words, the whole of the 20 per cent legal reserve is itself merely a promise by the Federal Reserve Bank to furnish money.
20.
Bristol-Myers Squibb Co . said Thursday that second quarter earnings plunged 42 percent as the drug company increased legal reserves and wrote-off research and development costs.
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