JPMorgan No Longer $20 Billion in Hole for Fed Capital Demand
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JPMorgan Chase & Co. was singled out last year for being the only major U.S. bank that didn’t have enough capital set aside to overcome the perception it’s too big to fail. But that was then.
As the Federal Reserve prepares to finalize the capital requirements for eight heavyweight lenders on Monday, JPMorgan says it’s much closer to nearing the gap on what the Fed identified as a $20 billion shortfall. And Chief Executive Officer Jamie Dimon said this week that the effort to improve the capital ratio won’t stop.