SAN FRANCISCO — The city attorney of San Francisco has sent a shot across the bow of both JPMorgan Chase & Co. and MBIA in the form of threatening letters over their involvement in the Asian Art Museum’s financial crisis.

The Asian Art Museum of San Francisco’s foundation, which raises money for the institution, has a letter of credit from JPMorgan that backs $120 million of outstanding variable-rate revenue bonds and is set to expire on Dec. 21.

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