JPMorgan says deal helps avoid fire sale of assets

NEW YORK, March 16 (Reuters) - JPMorgan Chase (JPM.N: Quote, Profile, Research, Stock Buzz) said on Sunday that investment bank Bear Stearns Inc. BSC.N would still be open for business and that its deal to buy the rival helped avoid a fire sale of Bear Stearn's assets.

A JPMorgan executive said on a conference call on Sunday that Bear's positions would be de-levered in an orderly fashion. (Reporting by Joseph Giannone and Megan Davies)