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)
- Israel rejects ceasefire plan, source says, as death toll nears 850 |
- First Ebola victim in Sierra Leone capital on the run
- Obama tells Central American leaders most children will go home
- EU edges to economic sanctions on Russia but narrows scope |
- Bad weather seen as probable cause of Air Algerie crash