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Page last updated at 09:57 GMT, Friday, 11 May 2012 10:57 UK

JPMorgan Chase losses 'not life threatening'


JPMorgan Chase, the biggest US bank, has revealed a surprise trading loss of at least $2bn (£1.2bn) on complex investments made by its traders.

Mike Mayo, US banking analyst at investment firm CLSA, told the Today programme that the bank thought the investments they made had been conservative in nature.

While the losses were not life threatening, he said, the larger concern was the failure of their risk management analysis.

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