JPMorgan CIO swaps pricing said to differ from bank’s: report [Reuters]

(Reuters) – The JPMorgan Chase & Co (JPM.N) unit responsible for $2 billion in losses on credit derivatives valued some of its trades at prices that differed from those of its parent investment bank, Bloomberg News reported.

The two different pricing tracks used by the chief investment office and J.P. Morgan’s credit-swaps dealer may have obscured by hundreds of millions of dollars the size of the loss before it was disclosed earlier this month, the Bloomberg News report said, citing a person familiar with the matter.

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