LOOSE CHANGE

LOOSE CHANGE

Is Bank of America playing it safe? The bank, which has been cutting an increasingly wide swath in the foreign exchange market in recent years, appears to be hedging its bets a bit after swallowing Security Pacific and much of its foreign exchange trading operation. Sources report that the bank has been cutting counterparty credit lines, largely among brokerage firms, some quite dramatically. One firm saw its line cut from $100 million to $5 million following the merger, a source close to

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