Relevant:
- JPMorgan ordered to improve controls after Whale loss
- How Jamie Dimon--or Houdini?--hid the $6 billion "Whale" loss
- JPMorgan whale loss cuts bank trading revenue
- JPMorgan Counterparty Platt Says Bank's Loss May Widen; Were Not "Hedges"
- JPMorgan Says Trading Loss Tops $5.8 Billion; Profit for Quarter Falls 9%
2012-09-21 — reuters.com
A London-based trader involved in the trades was known in the credit derivatives market as the "London whale" for the large size of the positions he took.
The OCC's tally of industry results put JPMorgan's second-quarter loss on the trades at $3.7 billion, which the regulator said had caused the bank to report an aggregate $420 million trading loss for the quarter. Accounting for bank regulations is different in some ways from that used in companies' reports to shareholders.''
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