JPMorgan’s $28 Billion Leads Bank Trading Losses in Tests
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JPMorgan Chase & Co., which produced the most trading revenue among Wall Street firms last year, had the highest trading and counterparty losses of the biggest U.S. banks under the Federal Reserve’s stress scenario.
JPMorgan had an estimated $27.7 billion in projected losses from mark-to-market changes, credit valuation adjustments and counterparty default losses, according to the Fed results released yesterday. Goldman Sachs Group Inc. had an estimated $27.1 billion of such losses in the testing.