JPMorgan Chase Whale Trades: A Case History of Derivatives Risks and Abuses
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Serial Number
Levin Center Identifier
Document Date
2013-03-15
Report Length
361 pages
Policy Agendas Project Major Code
Policy Agendas Project Minor Code
Additional, Minority, Dissenting Views
Report Type
Found Using Methodology
Yes
Subcommittee(s)
Commission(s)
Idependent Author(s)
Brief Executive Summary
The Permanent Subcommittee on Investigations of the Senate Committee on Homeland Security and Governmental Affairs conducted an investigation into the JPMorgan Chase "whale" trades. The purpose was to look into JP Morgan Chase's perilously large trades that took over the credit markets in early 2012. High-risk trading activity and misconduct were discovered along with systemic issues relating to credit market within the United States alluding to the need for more oversight of banks' derivative trading activities, including improved regulation, effective documentation, and enforcement of risk limits.