As reported to the FAA. Reports are unverified, and codes are left as the FAA publishes them.
What was found
DURING CLIMB "BLEED 1 OVERPRESSURE" DISPLAYED ON EICAS. PRESSURES WERE READING BETWEEN 110-120 PSI. FOLLOWED QRH AND MESSAGE REMAINED. RETARDED THE NUMBER 1 THRUST LEVER AND PRESSURE SUBSIDED. AN EMERGENCY WAS NOT DECLARED, BUT ATC DECLARED DUE TO POSSIBLE ENGINE SHUTDOWN SITUATION. THE RETURN TO EWR WAS NORMAL. MAINTENANCE DEFERRED THE BLEED 1 SYSTEM.