WASHINGTON (Reuters) - The recent trading losses at JPMorgan Chase & Co raise concerns about the risk management practices at U.S. banks that go beyond the so-called Volcker rule trading restrictions, Deputy Secretary of the Treasury Neal Wolin said in testimony prepared for a Wednesday congressional hearing.
U.S. regulators should require banks to establish effective risk management systems and make clear who will be held accountable if they fail, Wolin said in his testimony, which was obtained by Reuters. Wolin and other government officials are scheduled to testify before the Senate Banking Committee on Wednesday.
(Reporting By Dave Clarke; Editing by Gary Hill)
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