JPMorgan Capital to Rise Under Revised US Bank Rules
JPMorgan executives said Tuesday the bank faces a 4% capital hike under revised rules while rivals see relief. The bank will provide feedback to regulators.
JPMORGAN CHASE & CO is facing a projected increase in required capital under the latest revisions to banking regulations in the United States, a development that contrasts with the expected relief for its primary Wall Street competitors. The bank’s new estimates, disclosed during its first-quarter earnings report, represent a significant turn in the ongoing industry debate over the implementation of Basel III standards and GSIB surcharge rules.
Speaking on Tuesday, JPMorgan Chief Financial Officer Jeremy Barnum explained that under the revised drafts unveiled by the Federal Reserve last month, the bank’s capital requirements would likely rise by approximately 4%. This stands in stark contrast to its peers, who are expected to see an average decline of 4.8% in their capital mandates.
