JPM’s Dimon to explain $2bn loss

JP Morgan Chase chief executive Jamie Dimon will testify before the US Senate Banking Committee on 13 June to discuss the bank’s recent trading losses, the committee said yesterday. Earlier this month, JP Morgan said it had suffered at least $2bn in losses from a set of trades that were meant to hedge risk. Regulators are probing the losses before making a decision about whether the bank and others need to scale back their risk.