- 06May
(Reuters) - JPMorgan Chase & Co (JPM.N) is in "advanced discussions" with the U.S. Securities and Exchange Commission to resolve a probe into its role in selling certain collateralized debt obligations, the bank said.
The second-largest U.S. bank made the statement in a quarterly filing with the SEC on Friday.JPMorgan previously said it had received "a number of subpoenas and informal requests" from federal and state authorities over CDOs and mortgage-backed securities.
In the new filing, the bank estimated its maximum possible losses from legal proceedings at $4.5 billion as of March 31, unchanged from its estimate for December 31.
The bank said it made money trading every day of the first quarter. Its average daily trading revenue was $112 million.
(Reporting by David Henry; editing by John Wallace)
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