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JPMorgan’s Hedging Unlike Peers’

Other big U.S. banks say their corporate investment offices avoid derivatives.

By Bradley Keoun, Donal Griffin and Michael J. Moore, Bloomberg | Updated on May 22, 2012

JPMorgan Chase & Co.’s biggest U.S. competitors say their corporate investment offices avoid the use of derivatives that led to the bank’s $2 billion loss and buy fewer bonds exposed to credit risk.

Bank of America Corp., Citigroup Inc. and Wells Fargo & Co. say the offices don’t trade credit-default swaps on indexes linked to the health of companies. JPMorgan is said to have amassed positions in such indexes that were so large they drove price moves in the $10 trillion market.

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