(Reuters) -Jefferies Financial Group said on Sunday its exposure to bankrupt auto parts maker First Brands Group is limited and any potential losses will be “readily absorbable”.

First Brands, which makes filters, brakes and lighting systems for the automotive industry, filed for bankruptcy protection last month after its lenders began investigating irregularities in the company’s financial reporting.

Jefferies said its total indirect exposure to First Brands could lead to some financial losses over time, including about $43 million through its Point Bonita fund and about $2 million tied to First Brands’ bank loans via its Apex platform.

Financial firms exposed to First Brands include Jefferies, which disclosed $715 million in exposure through Leucadia Asset Management, and UBS, which i

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