JPM Takes 'Significant Loss' in Derivatives Book - 'Could Get Worse'

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JPMorgan said the mark-to-market losses came in the bank's chief investment office, a unit set up to invest excess deposits, which has drawn controversy after hedge funds alleged it was taking big proprietary bets.

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Analysts on the conference call were clearly perplexed by the sudden change. JP Morgan was considered to have among the cleanest balance sheets of the major banks. Dimon also noted that the loss could give fuel to critics who say that banks are still too lightly regulated.