Fox Business Network reports that Dimon told members of the House Financial Services Committee Tuesday: 'We disclosed what we knew when we knew it'.
The hearing is the second Congressional grilling Dimon has faced in the past two weeks over the massive losses suffered in JPMorgan’s Chief Investment Office in London.
And Bloomberg reports that Dimon also said that JPMorgan’s decision to change how it measures trading risk worsened rather than triggered the company’s loss.
'It may have aggravated what happened, I wouldn’t say it was the cause of what happened', he said.
Finally, the news organisation also reports that JPMorgan caught regulators off guard with the trading loss of because the firm’s reporting lacked enough detail to raise any alarm, the U.S. Comptroller of the Currency said Tuesday.
'In hindsight, if the reporting were more robust or granular, we believe we may have had an inkling of the size and potential complexity and risk of the position', Comptroller Thomas Curry said at the hearing.
The Alchemists: Three Central Bankers and a World on Fire
Hubris: How HBOS Wrecked the Best Bank in Britain
