JPMorgan Chase Comments on the Federal Reserve’s 2024 Stress Test Results
June 26 2024 - 10:25PM
Business Wire
JPMorgan Chase & Co. (NYSE: JPM) (“JPMorgan Chase” or the
“Firm”) has reviewed the Federal Reserve’s 2024 stress test results
and specifically the Federal Reserve’s projections for Other
Comprehensive Income (“OCI”). Based on the Firm’s own assessment,
the benefit in OCI appears to be too large. Should the Firm’s
analysis be correct, the resulting stress losses would be modestly
higher than those disclosed by the Federal Reserve.
As of March 31, 2024, the Firm reported a Standardized Common
Equity Tier 1 (“CET1”) capital ratio of 15.0%, as compared with
current regulatory requirements of 11.9%, which represents
approximately $54 billion of excess capital.
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995. These statements are based on the current beliefs and
expectations of JPMorgan Chase & Co.’s management and are
subject to significant risks and uncertainties. Actual results may
differ from those set forth in the forward-looking statements.
Factors that could cause JPMorgan Chase & Co.’s actual results
to differ materially from those described in the forward-looking
statements can be found in JPMorgan Chase & Co.’s Annual Report
on Form 10-K for the year ended December 31, 2023 and Quarterly
Report on Form 10-Q for the quarterly period ended March 31, 2024,
which have been filed with the Securities and Exchange Commission
and are available on JPMorgan Chase & Co.’s website
(https://jpmorganchaseco.gcs-web.com/financial-information/sec-filings),
and on the Securities and Exchange Commission’s website
(www.sec.gov). JPMorgan Chase & Co. does not undertake to
update any forward-looking statements.
JPMorgan Chase & Co. (NYSE: JPM) is a leading financial
services firm based in the United States of America (“U.S.”), with
operations worldwide. JPMorgan Chase had $4.1 trillion in assets
and $337 billion in stockholders’ equity as of March 31, 2024. The
Firm is a leader in investment banking, financial services for
consumers and small businesses, commercial banking, financial
transaction processing and asset management. Under the J.P. Morgan
and Chase brands, the Firm serves millions of customers in the
U.S., and many of the world’s most prominent corporate,
institutional and government clients globally. Information about
JPMorgan Chase & Co. is available at www.jpmorganchase.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20240626466478/en/
Investor Contact: Mikael Grubb, 212-270-2479
Media Contact: Patricia Wexler,
patricia.a.wexler@jpmorgan.com
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