JPMorgan directors to release report on Whale loss - NY Times
NEW YORK (Reuters) - Directors of JPMorgan Chase & Co(JPM.N) voted on Tuesday to publicly release an internal report on how the company lost $6.2 billion on "London Whale" derivatives trades last year, The New York Times said on its website.
Chief Executive Jamie Dimon, who is also chairman of the board, argued that the report should be made public, the Times said, citing "several" people familiar with the matter.
The report, which includes descriptions of mistakes by bank executives, is more than 50 pages long, according to the report.
JPMorgan is scheduled to release fourth-quarter results on Wednesday and hold a conference call with analysts.
A spokesman for JPMorgan was not immediately available for comment. (Reporting by David Henry in New York; editing by John Wallace)
- Tweet this
- Share this
- Digg this
India is set to offer Nepal a landmark pact to help develop its huge hydro-electric power potential as the South Asian giant takes another step to re-assert influence among smaller neighbours where China has been forging closer ties. Full Article