JPMorgan Chase & Co. (JPM) Chairman and Chief Executive Jamie Dimon said during a conference call with investors that his bank's exposure to the auto industry is reserved for but could cause some losses.

"The three companies are total exposure, in other words, how much could we possibly lose at the far end, it would be well less than $1 billion," he said.

"We have exposure to the finance companies, mostly collateralized....We can lose money there. And obviously we have exposures to suppliers both in the commercial bank and the investment bank and. You're basically already seeing a lot of that stress in the balance sheet."

-By Matthias Rieker, Dow Jones Newswires; 201-938-5936; matthias.rieker@dowjones.com