NEW YORK: The losses from JPMorgan’s botched derivatives trade may reach US$9bil, nearly five times the amount announced in May, the New York Times reported.
The Times quoted an unnamed source as saying a report generated in April showed that in a worst-case scenario the losses from the trade could reach US$8bil–US$9bil, but said some regulators expect something closer to US$6bil–US$7bil.
Already a subscriber? Log in.
Limited time offer:
Just RM5 per month.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
