NEW YORK, Oct 14 (Reuters) - JPMorgan Chase's ( JPM ) exposure
to bankrupt auto dealer Tricolor is "not our finest moment," the
bank's CEO Jamie Dimon told reporters on a conference call on
Tuesday.
JPMorgan ( JPM ) charged off $170 million in the third quarter
related to the situation, and the bank is reviewing its
controls, Chief Financial Officer Jeremy Barnum said.
The bankruptcies of automotive-related Tricolor and companies
First Brands, along with potential losses at banks and
investment funds, are raising new concerns about hidden risks in
parts of the credit market - prompting investors to take a
closer look at risky debt.