Mon Feb 07 10:00:47 2011 EST
LONDON (Dow Jones)--JP Morgan Monday said it has become the only tri-party agent to accept physical gold as collateral against securities lending and repo obligations with counterparties. The company said in a statement that it expects to accept additional precious metals and commodities as collateral later in the year. "The ability to finance and leverage the broadest range of asset classes is important to our clients. Many clients are holding gold on their balance sheets as an inflation hedge and are looking to make these assets work for them as collateral," said John Rivett, collateral management executive at J.P. Morgan Worldwide Securities Services. -By Rhiannon Hoyle, Dow Jones Newswires; +44 (0)20 7842 9405; firstname.lastname@example.org (END) Dow Jones Newswires 02-07-11 1000ET Copyright (c) 2011 Dow Jones & Company, Inc.