JP Morgan Chase chief executive Jamie Dimon intentionally withheld critical profit and loss data from federal regulators at a time that it could have provided damaging information about what eventually became a more than $6.2bn trading loss in credit derivatives, according to a Senate panel report released yesterday.

The report charges America's largest bank by assets with ignoring its own limits on risk taking, manipulating risk models to avoid detection, ignoring warnings from traders and misinforming the public and federal regulators about growing losses.