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JP Morgan 2012 Loss

JP Morgan 2012 Loss

JPMorgan Chase & Co. (NYSE: JPM) is an American multinational banking corporation of securities, investments and retail. It is the largest bank in the United States by assets. It is a major provider of financial services, with assets of $2 trillion.

 

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Geordi Taylor

Geordi Taylor

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Mr Dimon spoke as U.S. regulator the Securities and Exchange Commission prepared to look into how changes in the way JP Morgan calculates risk might have obscured the potential for these trades to do such colossal damage.

Article: Boss of Voldermort trader...
Source: JPMorgan Chase trader Bru...

Bruno Michel Iksil, the Frenchman nicknamed 'Voldemort' and 'the London Whale'.

Article: Boss of Voldermort trader...
Source: JPMorgan Chase trader Bru...

They can be used by bond investors – as a hedge against potential defaults – or traded separately when they are called naked CDSs.

Article: JP Morgan loss: what is a...
Source: guardian.co.uk

Credit default swaps (CDSs) are a form of insurance on bonds issued by companies and countries that investors can buy and sell. If it looks like an issuer may have trouble paying – such as Greece, for example – the CDS price rises because the bond is more risky and it will cost more to insure.

Article: JP Morgan loss: what is a...
Source: guardian.co.uk

Also, the JPMorgan Chase loss has rein­forced the Fed­eral Deposit Insur­ance Corporation’s posi­tion that risky activ­i­ties should be sep­a­rated from tra­di­tional com­mer­cial banking activ­i­ties of taking deposits and making loans. It’s a good bet that reg­u­la­tors will start probing com­pa­rable trading strate­gies at other large banks despite the fact that most of them passed stress tests last year.

Article: Menu
Source: news @ Northeastern

The JPMorgan Chase losses on its trading activ­i­ties have renewed calls for stricter reg­u­la­tory over­sight of all the big banks. The advo­cates of tougher reg­u­la­tion have been embold­ened to tighten reg­u­la­tions. For example, the banking industry’s efforts to dial back the Volker rule ­­­­— which restricts big banks’ ability to trade for their own account — has been severely under­mined.

Article: Menu
Source: news @ Northeastern

Article: How JPMorgan’s storm in...
Source: FT.com

Last week, three months after Mr Weinstein’s tip, the IG.9 has become the unlikely talk of Wall Street after JPMorgan revealed a shock $2bn loss believed to stem from its outsized trading of the derivatives index.

Article: How JPMorgan’s storm in...
Source: FT.com

It was the kind of ardent mea culpa that's rarely heard on Wall Street. Jamie Dimon, the revered chief executive of JPMorgan Chase, told analysts late Thursday that the company had screwed up. A unit of the bank that's supposed to manage risk had made a big bet on its loan portfolio, he said, and the bet had backfired.

Article: Big Losing Bet Tarnishes ...
Source: Npr

JPMorgan Chase is licking its wounds after announcing that it lost at least $2 billion in a hedging strategy that went terribly wrong. The announcement late Thursday sent the bank's shares tumbling more than 9 percent on Friday

Article: Big Losing Bet Tarnishes ...
Source: Npr
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