JPMorgan has 'time limit' for selling Henry Bath warehouse -Fed

NEW YORK Wed Jan 15, 2014 3:25pm EST

NEW YORK Jan 15 (Reuters) - The U.S. Federal Reserve has given JPMorgan Chase & Co an "ultimate time limit" for selling its Henry Bath warehousing unit, a regulatory executive at the U.S. central bank told a Senate banking committee hearing on Wednesday.

Michael Gibson, Fed director of bank supervision and regulation, did not say when the deadline for divesting the business was.

The bank announced plans in July to sell its physical commodities business, which includes Henry Bath.

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