Mr Dimon "would love to serve his country," the paper quoted sources as saying.

Mr Geithner was questioned last week before the US Congress over his role in the rescue of American International Group in 2008, when he was president of the New York Federal Reserve Bank.

A number of senior Wall Street bankers have moved on into the US Treasury in recent years, such as Robert Rubin, who was Treasury Secretary during part of the Clinton administration in the 1990s, and Hank Paulson, who held office for part of the the recent George W Bush administration.