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JP Morgan Chase and Co

JP Morgan Chase and Co (JPM)

211.22
5.99
(2.92%)
Cerrado 04 Octubre 3:00PM
211.3374
0.1174
(0.06%)
Fuera de horario: 6:54PM

Mejore su cartera: debates en tiempo real e ideas comerciales prácticas.

Estadísticas y detalles clave

Último Precio
211.3374
Postura de Compra
-
Postura de Venta
-
Volume Operado de la Acción
10,313,417
206.91 Rango del Día 211.67
135.19 Rango de 52 semanas 225.48
Capitalización de Mercado [m]
Precio Anterior
205.23
Precio de Apertura
209.30
Última hora de negociación
Volumen financiero
US$ 2,158,890,048
Precio Promedio Ponderado
209.3283
Volumen promedio (3 m)
8,979,453
Acciones en circulación
2,845,164,727
Rendimiento del Dividendo
2.37%
Ratio Precio/Utilidad
12.51
Beneficio por acción (BPA)
16.89
turnover
158.1B
Beneficio neto
48.05B

Acerca de JP Morgan Chase and Co

JPMorgan Chase is one of the largest and most complex financial institutions in the United States, with nearly $4 trillion in assets. It is organized into four major segmentsconsumer and community banking, corporate and investment banking, commercial banking, and asset and wealth management. JPMorga... JPMorgan Chase is one of the largest and most complex financial institutions in the United States, with nearly $4 trillion in assets. It is organized into four major segmentsconsumer and community banking, corporate and investment banking, commercial banking, and asset and wealth management. JPMorgan operates, and is subject to regulation, in multiple countries. Mostrar más

Sector
National Commercial Banks - Non Islamic
Industria
National Commercial Banks - Non Islamic
Sede
Wilmington, Delaware, USA
Fundado
-
JP Morgan Chase and Co is listed in the National Commercial Banks - Non Islamic sector of the New York Stock Exchange with ticker JPM. The last closing price for JP Morgan Chase was US$205.23. Over the last year, JP Morgan Chase shares have traded in a share price range of US$ 135.19 to US$ 225.48.

JP Morgan Chase currently has 2,845,164,727 shares in issue. The market capitalisation of JP Morgan Chase is US$583.91 billion. JP Morgan Chase has a price to earnings ratio (PE ratio) of 12.51.

Flujo de Opciones JP Morgan Chase (JPM)

Flujo General

Optimista

Prima Neta

95M

Calls / Puts

299.03%

Comp. / Vent.

106.70%

OTM / ITM

31.31%

Sweeps Ratio

0.97%

JPM Últimas noticias

JPMorganChase Announces 2025 Investor Day

JPMorgan Chase & Co. (NYSE: JPM) (“JPMorganChase” or the “Firm”) will hold an Investor Day in New York City on Monday, May 19, 2025, with presentations given by members of executive...

Marriott Bonvoy Bold® Credit Card from Chase Launches the Bold Chat Court Contest, Empowering Travelers to Take Their Trips Out of the Group Chat

Together with award-winning singer-songwriter and actress, Halle Bailey, the Marriott Bonvoy Bold® Credit Card from Chase launches Bold Chat Court, awarding a total of 5 million Marriott Bonvoy®...

J.P. Morgan Asset Management Launches New Active ETF: JPMorgan Dividend Leaders ETF (JDIV)

J.P. Morgan Asset Management Launches New Active ETF: JPMorgan Dividend Leaders ETF (JDIV) PR Newswire NEW YORK, Sept. 26, 2024 NEW YORK, Sept. 26, 2024 /PRNewswire/ -- J.P. Morgan Asset...

New Delaware Equitable Hiring Initiative to Fight Labor Shortages and Connect Wilmington's "Hidden Workers" to Quality Jobs

New Delaware Equitable Hiring Initiative to Fight Labor Shortages and Connect Wilmington's "Hidden Workers" to Quality Jobs PR Newswire WASHINGTON and WILMINGTON, Del., Sept. 25, 2024...

Black, Hispanic and Latina Women are Newer to Investing and Focused on Generational Wealth, J.P. Morgan Wealth Management Finds

Younger Black, Hispanic and Latino investors take a more hands-on approach to their investing than previous generations Black, Hispanic and Latina women are more likely to have started investing...

JPMorganChase Declares Common Stock Dividend

JPMorgan Chase & Co. (NYSE: JPM) (“JPMorganChase” or the “Firm”) declared a quarterly dividend on the outstanding shares of the common stock of JPMorganChase. Information can be found on the...

’Tis the Season to Cash Back with Chase Freedom® Q4 2024 Categories: McDonald’s, PayPal, Pet Shops & Vet Services and Select Charities

Freedom and Freedom Flex® cardmembers can earn 5% cash back on activated categories and 7% cash back at McDonald’s throughout the holiday season Today, Chase Freedom announced its latest Q4...

JPMorganChase Declares Preferred Stock Dividends

JPMorgan Chase & Co. (NYSE: JPM) (“JPMorganChase” or the “Firm”) has declared dividends on the outstanding shares of the Firm’s Series CC preferred stock. Information can be found on the...

J.P. Morgan Asset Management Launches Groundbreaking Guide to ETFs

J.P. Morgan Asset Management Launches Groundbreaking Guide to ETFs PR Newswire NEW YORK, Sept. 12, 2024 A new flagship publication set to revolutionize ETF education, featuring expert analysis...

J.P. Morgan Payments Expands Oracle Partnership to Streamline Payments Across Treasury, Trade and Commerce

J.P. Morgan Payments and Oracle enhance existing cloud enterprise resource planning (ERP) integration with new solutions across Oracle platforms J.P. Morgan Payments today announced new and...

Período †Variación(Ptos)Variación %AperturaPrecio MáximoPrecio MínimoAvg. Vol. diarioPrecio Promedio Ponderado
10.68740.32632328507210.65212.44204.347456636208.26733571CS
4-5.8026-2.67228516165217.14219.1200.6110187529208.8626303CS
127.00743.42945235648204.33225.48190.98979453209.97005355CS
2612.34746.20503542892198.99225.48179.29173405202.19957438CS
5268.217447.6644773617143.12225.48135.199217406184.0146366CS
15644.547426.7086755801166.79225.48101.2811323091149.34016117CS
26098.997488.1230194054112.34225.4876.9113205490135.14762578CS

Movimientos

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JPM Discussion

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Bountiful_Harvest Bountiful_Harvest 2 días hace
Russian court freezes assets of JP Morgan

https://www.rt.com/russia/605139-us-banks-asset-freeze/

"Nearly $1 billion held by two US banks in the country has been blocked and frozen"

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Saving Grace Saving Grace 2 semanas hace
Wall Street Rats jumping ship.



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Bountiful_Harvest Bountiful_Harvest 3 semanas hace
JPMorgan Chase, Goldman Sachs, Bank of America and Wells Fargo are considered GSIB's, Global Systemically Important Banks.

Meaning if any one of them fails it could create global financial instability.

Thank you @McSqueezyTheCow for creating this chart that details the risks that these big banks have taken and that too few are talking about.

Zoom in on his chart. Study the numbers . He "compares assets, derivates, credit exposure, interconnectedness, and more."

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Bountiful_Harvest Bountiful_Harvest 3 semanas hace
$JPM warns of recession
$ALLY warns of consumer defaults 📈
$GS is heavily leverage on the wrong side of the Yen carry trade & $NVDA

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Lime Time Lime Time 3 semanas hace
200.61 good entry
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BottomBounce BottomBounce 1 mes hace
No bank is safe, implosion coming: 'Every single bank is insolvent' — Lynette Zang https://www.kitco.com/news/article/2024-04-08/no-bank-safe-implosion-coming-every-single-bank-insolvent-lynette-zang#google_vignette $JPM
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Prudent Capitalist Prudent Capitalist 1 mes hace
The new 52-week highs just keep on coming, and JPM's fortress balance sheet gets stronger with each passing day, week, month and year.
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Saving Grace Saving Grace 1 mes hace
JP Morgan Insolvent, Bank Run?











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Monksdream Monksdream 1 mes hace
JPM new 52=week high
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Monksdream Monksdream 1 mes hace
JPM new 52 week high
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BottomBounce BottomBounce 2 meses hace
$JPM JP Morgan Expects Silver ( $27.60 per oz) Prices To Average $36/Oz In 2025 https://jpost.com/business-and-innovation/precious-metals/article-812785 #Silver #coins #bullion
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Saving Grace Saving Grace 2 meses hace
*****Sure SMH Enough Said LoL SMH

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Prudent Capitalist Prudent Capitalist 2 meses hace
What pump? what dump? JPM dropped like nearly every other ticker in the world yesterday, but it is still trading near its all-time high hit recently. SMFH
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Saving Grace Saving Grace 2 meses hace
We seen the pump and now the dump



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Saving Grace Saving Grace 2 meses hace
Cooking the books won't work this time. SOS
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Monksdream Monksdream 3 meses hace
JPM new 52 week high
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Monksdream Monksdream 3 meses hace
JPM 10Q expected JULY12
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Prudent Capitalist Prudent Capitalist 3 meses hace
And, JPM was so strong on the stress tests that it is raising the dividend by 8.7% and announced another $30 Billion share buyback. All very positive for all of us who own shares. Also note that JPM is converting all of the acquired First Republic branches into luxury branches to learn how to better cater to wealthy clients.
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Lime Time Lime Time 3 meses hace
207.09 year high
👍️0
Lime Time Lime Time 4 meses hace
Added some on the low today, it's fun to trade these too
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Saving Grace Saving Grace 5 meses hace
Russia court allows seizure of $13 mln of JPMorgan and Commerzbank assets

https://www.reuters.com/markets/europe/russia-court-allows-seizure-13-mln-jpmorgan-commerzbank-assets-2024-05-07/

It's only just begun. Bank seizures of assets to become common place as more and more corruption begins to be uncovered.
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Saving Grace Saving Grace 5 meses hace
Insider Sale: Chief Risk Officer Ashley Bacon Sells Shares of JPMorgan Chase & Co (JPM)

https://finance.yahoo.com/news/insider-sale-chief-risk-officer-064439135.html
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Prudent Capitalist Prudent Capitalist 5 meses hace
There you go again. Posting out of date and very misleading Bullshit.

#JustMoreDisgracefulBullshit
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Win81 Win81 6 meses hace
H
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Saving Grace Saving Grace 6 meses hace
Dimon caught again juggling the books for Rothschilds

BOMBSHELL! Jamie Dimon Is Part Of Jeffrey Epstein's Web Of Corruption ...





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Prudent Capitalist Prudent Capitalist 6 meses hace
Sheesh! We prefer current JPM news and comment here, not stuff from many years ago. Nice try quoting a very old, outdated article without including the date from years ago. SMFH.

#JustMoreDisgracefulBullshit
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Saving Grace Saving Grace 6 meses hace
$JPM trouble, juggling the books.

JPMorgan Chase & Co. Agrees To Pay $920 Million in Connection with Schemes to Defraud Precious Metals and U.S. Treasuries Markets

JPMorgan Chase & Co. (JPMorgan), a New York, New York-based global banking and financial services firm, has entered into a resolution with the Department of Justice to resolve criminal charges related to two distinct schemes to defraud: the first involving tens of thousands of episodes of unlawful trading in the markets for precious metals futures contracts, and the second involving thousands of episodes of unlawful trading in the markets for U.S. Treasury futures contracts and in the secondary (cash) market for U.S. Treasury notes and bonds.

JPMorgan entered into a deferred prosecution agreement (DPA) in connection with a criminal information filed today in the District of Connecticut charging the company with two counts of wire fraud. Under the terms of the DPA, JPMorgan will pay over $920 million in a criminal monetary penalty, criminal disgorgement, and victim compensation, with the criminal monetary penalty credited against payments made to the Commodity Futures Trading Commission (CFTC) under a separate agreement with the CFTC being announced today and with part of the criminal disgorgement credited against payments made to the Securities Exchange Commission (SEC) under a separate agreement with the SEC being announced today.

“For over eight years, traders on JP Morgan’s precious metals and U.S. Treasuries desks engaged in separate schemes to defraud other market participants that involved thousands of instances of unlawful trading meant to enhance profits and avoid losses,” said Acting Assistant Attorney General Brian C. Rabbitt of the Justice Department’s Criminal Division. “Today’s resolution — which includes a significant criminal monetary penalty, compensation for victims, and requires JP Morgan to disgorge its unlawful gains — reflects the nature and seriousness of the bank’s offenses and represents a milestone in the department’s ongoing efforts to ensure the integrity of public markets critical to our financial system.”

“JPMorgan engaged in two separate years-long market manipulation schemes,” said U.S. Attorney John H. Durham of the District of Connecticut. “Not only will the company pay a substantial financial penalty and return money to victims, but this agreement requires JPMorgan to self-report violations of the federal anti-fraud laws and cooperate in any future criminal investigations. I thank the FBI for its dedication in investigating these deceptive trading practices and other sophisticated financial crimes.”

“For nearly a decade, a significant number of JP Morgan traders and sales personnel openly disregarded U.S. laws that serve to protect against illegal activity in the marketplace,” said Assistant Director in Charge William F. Sweeney Jr. of the FBI’s New York Field Office. “Today's deferred prosecution agreement, in which JP Morgan Chase and Co. agreed to pay nearly one billion dollars in penalties and victim compensation, is a stark reminder to others that allegations of this nature will be aggressively investigated and pursued.”
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Prudent Capitalist Prudent Capitalist 6 meses hace
LMFAO! JPM reported very strong earnings yesterday: $41.9 Billion in revenue for Q1, up 9% over the year ago quarter, and topping analysts' estimates of $41.67 Billion. Net income of $13.4 Billion, a 6% increase over the comparable year ago quarter, and earnings per share of $4.44 vs. analysts' projection of $4.17 per share.

All stocks were down hard yesterday due to concern over Geopolitical events, specifically Iran's statement that it would launch attacks on Israel today or tomorrow. JPM up strongly over the past 6 months and year, and YTD.
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Agoura Guy Agoura Guy 6 meses hace
JPM $182.25 -13.18 (-6.74%) SWIRLING TURD IN THE TOILET!!!!!!!!


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Greedy G Greedy G 6 meses hace
~bought the 4/19 $220 calls @.09c
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Prudent Capitalist Prudent Capitalist 6 meses hace
Talk about delusional nonsense. SMFH
Dimon will be arrested, if not already. Cloned out or body double is what we see.
#justmoredisgracefulBullshit
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Saving Grace Saving Grace 6 meses hace
Dimon will be arrested, if not already. Cloned out or body double is what we see.

👍️0
Prudent Capitalist Prudent Capitalist 6 meses hace
All over the news? where? JPM has a fortress balance sheet and will once again report very strong earrings and financial conditions this coming week.
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Saving Grace Saving Grace 6 meses hace
Stop Lying It all over the news. The switch out is happening now. Amen
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Prudent Capitalist Prudent Capitalist 6 meses hace
ROTFLMAO!...........Just more nonsensical fiction. SMH
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Saving Grace Saving Grace 6 meses hace
LMAO He's being liquidated and the bank is insolvent. It's a money laundering scam and he and several others got caught.



The long shadow of Jeffrey Epstein forces a reckoning between JPMorgan ...

Jamie Dimon FORCED To Testify In Epstein Case |



BOMBSHELL! Jamie Dimon Is Part Of Jeffrey Epstein's Web Of Corruption!

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Prudent Capitalist Prudent Capitalist 6 meses hace
$198.02 +$2.37 (+1.21%) Not so much. SMFH
Major Dump, end of day, More coming tomorrow.
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Prudent Capitalist Prudent Capitalist 6 meses hace
LOL! Yes, as Jamie Dimon announced way back in October 2023, he would be selling around 1 Million shares of his JPM stock for purposes of diversifying his holdings in the best interests of his family. He has now sold approximately 1 Million shares when his sale in February and the most recent smaller sale are combined, consistent with the earlier filing. He has not been selling shares right and left, and still owns literally millions of JPM shares, have sold just 1 Million shares which represented a small portion of his total holdings. Stop misleading everyone.
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Saving Grace Saving Grace 6 meses hace
Jamie Dimon sells another $32 million in JPMorgan Chase stock

Rothschild scam banks like JPM are going down. Soon! Buyer Beware!.

Swift is no more and Central Banks will be dissolved soon.

Jamie Dimon has been selling shares, non stop.

Jamie Dimon has sold another batch of stock about a month after he raised $150 million through an earlier insider transaction.

https://www.msn.com/en-us/money/companies/jamie-dimon-sells-32-million-in-jpmorgan-chase-stock-as-shares-vest/ar-BB1kHtI6
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Prudent Capitalist Prudent Capitalist 6 meses hace
Sheeeeesh! Get your facts straight. No major dump in JPM yesterday and JPM shares up nicely today at $196.33 not much below its all-time high. All stocks dropped yesterday following the comments of Neil Kashkari, President of the Minneapolis Federal Reserve Bank. As for lying, your posts speak for themselves. My posts yesterday were facts taken directly from the link you posted below your baseless claim that Jamie Dimon sold 150 million shares of JPM, which was without any factual basis. SMFH
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Saving Grace Saving Grace 6 meses hace
Major Dump, end of day, More coming tomorrow. Liquidation of assets going to be huge.
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Saving Grace Saving Grace 6 meses hace
Stop Lying! Dip shit. JPM caught juggling books. They're insolvent with multiple arrests happening right now. Good Luck

LoL - SMH
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Prudent Capitalist Prudent Capitalist 6 meses hace
LMFAO! Everything I stated is a fact taken right out of the link you yourself posted. You are the one spreading lies, including about the number of shares Dimon actually sold. And, you have been claiming JPM and other banks are insolvent for years, and it is no truer today than it ever has been. That is total Bullshit also. SMFH
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Saving Grace Saving Grace 6 meses hace
Stop Lying, JPM is insolvent and why top brass flees.
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Prudent Capitalist Prudent Capitalist 6 meses hace
Old news and Bullshit too. He sold 821,778 shares as confirmed in the link you posted, and it was back in February. There is a huge difference between $150 Million worth of stock and 150 Million shares. And, Jamie Dimon announced and made filings way back last year in October that he would be lightening up on his massive holdings in JPM over time with planned future sales of around 1 Million shares to diversify his investments and holdings in the best interests of his family. He still owns a ton of JPM stock. Try to get your facts straight before posting such blatant fiction.
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Saving Grace Saving Grace 6 meses hace
Jamie Dimon dumps 150 million shares..

JPMorgan CEO Dimon sells about $150 million of his shares, SEC filing says

https://www.reuters.com/markets/us/jpmorgan-ceo-dimon-sells-about-150-mln-his-shares-sec-filing-says-2024-02-22/
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tw0122 tw0122 6 meses hace
Just last year, JPM salacious activities with sex trafficker Jeffrey Epstein, to whom it doled out mountains of hard cash for more than a decade (which he then used to silence his underage victims and accomplices), generated news headlines around the world. The bank settled those charges last year, which had been brought in two civil lawsuits by his victims and by the Attorney General of the U.S. Virgin Islands, for a combined $365 million. (See JPMorgan’s Settlements Reach $365 Million Over Civil Claims It Banked Jeffrey Epstein’s Sex Trafficking of Minors; Criminal Charges Could Lie Ahead.)
On Thursday of last week, two of JPMorgan Chase Bank’s federal regulators fined the riskiest bank in the United States $348 million dollars for engaging in “unsafe and unsound banking practices” for failing to supervise “billions” of trades on at least 30 global trading venues.

The Office of the Comptroller of the Currency (OCC) fined JPMorgan Chase Bank $250 million while the Federal Reserve fined the bank $98.2 million. The OCC said the misconduct occurred since at least 2019. The Fed said the bank had engaged in the misconduct over the span of nine years, from 2014 to 2023.

The key outrage embedded in these charges – that mainstream media failed to point out in its coverage last week – is that this “trading” activity did not occur at the registered brokerage firm of JPMorgan, which has properly licensed traders and trading supervisors. It occurred at the federally-insured bank, which is not allowed to have licensed traders – because casino banking brings on bank runs, bank panics and giant scandals that undermine Americans’ confidence in federally-insured banks.

Under Jamie Dimon at the helm of this federally-insured bank, as both Chairman and CEO, JPMorgan Chase Bank has turned giant scandals into an art form. Its rap sheet reads like that of an organized crime family and includes an unprecedented five criminal felony charges.

Adding to the outrage over the mild slap on the wrist from these two regulators last week is that this federally-insured bank was previously charged with engaging in unsafe and unsound banking activities when it used depositors’ money from its federally-insured bank to engage in massive high-risk credit derivative trades in London in 2012 and lost $6.2 billion of depositors’ money. The case became infamously known as the London Whale scandal.

The OCC wrote as follows in its settlement document covering the London Whale matter in 2013:

“The credit derivatives trading activity constituted recklessly unsafe and unsound practices, was part of a pattern of misconduct and resulted in more than minimal loss, all within the meaning of 12 U.S.C. § 1818(i)(2)(B)”; and “The Bank failed to ensure that significant information related to the credit derivatives trading strategy and deficiencies identified in risk management systems and controls was provided in a timely and appropriate manner to OCC examiners.”

The Securities and Exchange Commission (SEC) also settled charges with the bank in the London Whale matter. The SEC focused on JPMorgan’s ineffective internal controls and failure to keep the Audit Committee of its Board informed in a timely manner as required under its own rules and under the Sarbanes-Oxley Act. The SEC also found the company violated securities laws by filing false information with the SEC: “As a result of its failure to maintain effective internal control over financial reporting as of March 31, 2012, and disclosure controls and procedures, and as a result of its filing of inaccurate reports with the Commission (specifically, the Form 8-K filed on April 13, 2012, and the Form 10-Q filed on May 10, 2012), JPMorgan violated Sections 13(a), 13(b)(2)(A), and 13(b)(2)(B) of the Exchange Act and Rules 13a-11, 13a-13, and 13a-15 there under,” the SEC said in its settlement document.

At the time of the London Whale scandal, a woman named Ina Drew was in charge of the unit of the federally-insured bank that oversaw the derivatives trading in London. That unit of the bank was called the Chief Investment Office. (That unit was created after Jamie Dimon took the helm at the bank.)

Ina Drew testified about the matter before the U.S. Senate’s Permanent Subcommittee on Investigations on March 15, 2013. Drew told the hearing panel that beginning in 1999, she “oversaw the management of the Company’s core investment securities portfolio, the foreign-exchange hedging portfolio, the mortgage servicing rights (MSR) hedging book, and a series of other investment and hedging portfolios based in London, Hong Kong and other foreign cities.”

Drew told the Senate Subcommittee that the investment securities portfolio exceeded $500 billion during 2008 and 2009 and as of the first quarter of 2012 was $350 billion. But during the 13 years that Drew supervised massive amounts of securities trading, she had neither a securities license nor a principal’s license to supervise others who were trading securities.

At the time, we asked numerous Wall Street regulators to explain how this is possible at Wall Street mega banks. One regulator who spoke on background only told us that Drew could not hold a securities license because she worked for the federally-insured bank, not its broker-dealer (a/k/a brokerage firm). Only employees of broker-dealers are allowed to hold securities licenses. But apparently, not having a securities license does not stop one from supervising a $500 billion portfolio of securities that are, most assuredly, traded by someone.

It is a long-held requirement by U.S. securities regulators that if you are going to supervise persons holding a securities license, you must also hold the appropriate securities licenses yourself. Drew, without a license, was supervising traders in London who were registered with the Financial Services Authority (now Financial Conduct Authority).

In its 10-K (annual report) filing in February with the SEC, JPMorgan Chase indicated there is a third unnamed regulator that is currently investigating these billions of unsupervised trades. The bank said it was “also in advanced negotiations with a third U.S. regulator, but there is no assurance that such discussions will result in a resolution.”

That third regulator should closely examine what is going on in JPMorgan’s own Dark Pools, where the bank is preposterously allowed to trade large amounts of its own bank stock in its own Dark Pools. (See chart below as an example of what went on in the week of October 23, 2023.) Dark Pools are thinly regulated trading platforms inside the mega banks on Wall Street, and elsewhere, which lack the transparency of stock exchanges.
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tw0122 tw0122 6 meses hace
Federal banking oversight agencies are in agreement: U.S. banks are facing a potential tsunami of problems with commercial real estate loans in the office space sector.

Last June 1, the Office of Financial Research (OFR), (the agency created under the Dodd-Frank financial reform legislation of 2010 to warn about financial stability risks), explained why the vacancy rate in office buildings is in dramatic contrast to the actual occupancy rate, and thus bodes poorly for the future demand for renewing office leases. OFR writes as follows:

“The health of the CRE [Commercial Real Estate] office sector is not only measured by the amount of space leased and rent paid today, but also by how much space will be required in the future. In addition to space available for sublease, we can estimate the amount of space currently occupied by employees by measuring card key swipes using the Kastle Back to Work Barometer.

“Unfortunately, future demand for office space appears weak. In addition to the growth of office space available for sublease, the amount of office space occupied by tenants remains stubbornly low…Although the current office vacancy rate is 16.4%, the average occupancy rate measured by the Kastle Back to Work Barometer is 49.8%. (Note that this represents a weekly average; daily occupancy varies). This implies a structural vacancy rate of 50.2%. Prior to the COVID-19 pandemic, office occupancy averaged close to 100%. This means that on average, firms are paying rent for twice as much space as their employees are currently using. If occupancy of existing office space remains low, current office tenants will probably renew their leases for less space—reducing office demand over time.”

The chart above accompanied the assessment. The same chart also made it into OFR’s 2023 annual report, which predicted office building demolitions were likely to occur for the less desirable office space. OFR wrote:

“High-quality space will likely outperform as the flight to quality continues, with high rents and low vacancy rates for best-in-class assets. However, second-generation space will struggle to backfill, with an increase in demolitions and conversions.”

A key entity that OFR keeps apprised of financial stability risks is the Financial Stability Oversight Council (F-SOC). It was also created under the Dodd-Frank financial reform legislation of 2010 to address the fact that financial regulators were wearing blinders when the 2008 financial crisis on Wall Street left the U.S. economy in tatters, with millions of Americans losing their jobs and their homes to foreclosure from tricked-up mortgages. F-SOC is chaired by the sitting U.S. Treasury Secretary and includes every federal banking and securities regulator. F-SOC wrote the following in its 2023 annual report:

“Commercial real estate (CRE) loans totaled almost $6 trillion as of the second quarter of 2023, and CRE represents a significant portion of the assets of many financial institutions. Banks hold a significant market share of CRE loans at 50 percent, with the rest held by various financial institutions such as insurance companies, holders of commercial mortgage-backed securities (CMBS), and debt funds. CRE is the largest loan category among almost one-half of U.S. banks, and more than one-quarter of U.S. banks have CRE loan portfolios that are large relative to the capital they hold.”

And this:

“The prices of office properties have deteriorated much more than those of other major property types in recent quarters, with an index of office property prices more than 30 percent below its pre-pandemic level as of September 2023.”

There is widespread agreement among federal banking regulators that commercial real estate in the office sector is a serious financial risk to banks. However, there is divergent opinion among two key regulators as to whether this risk is at the smaller banks or includes the largest banks — which pose an exponentially greater threat to financial stability.

On March 7, Fed Chair Jerome Powell appeared before the Senate Banking Committee to deliver his Semiannual Monetary Policy Report. In the Q&A that followed, Senator Catherine Cortez Masto (D-NV) raised the question with Powell about troubled real estate loans as a financial risk to banks.

Powell played down the real estate threat at the largest banks, stating: “There will be bank failures, but this is not the big banks. If you look at the very big banks, this is not a first order issue for any of the very large banks. It’s more smaller and medium size banks that have these issues.”

Powell might have his own agenda in playing down the risks to the mega banks on Wall Street. According to Senator Elizabeth Warren, who also sits on the Senate Banking Committee, Powell is leading the charge behind the scenes to overturn federal regulators’ proposal to require the largest banks to hold larger amounts of capital to prevent a replay of the taxpayer and Fed bailouts of these mega banks that occurred in 2008.

On the same day that Powell was testifying before the Senate Banking Committee, the Chair of the Federal Deposit Insurance Corporation (FDIC), Martin Gruenberg, was holding a press conference to release the FDIC’s latest quarterly “Banking Profile.” Gruenberg boldly revealed a serious real estate problem inside the largest banks, stating the following: (Go to 5 minutes and 12 seconds at this link.)

GRUENBERG: “The increase in noncurrent loan balances was greatest among CRE [Commercial Real Estate] loans and credit cards. Weak demand for office space has softened property values and higher interest rates are affecting credit quality and refinancing ability of office and other types of CRE loans. As a result, the noncurrent rate for nonowner occupied CRE loans is now at its highest level since first quarter of 2014, driven by portfolios at the largest banks.” (Bold emphasis added.)

According to the chart below and accompanying data provided in an Excel spreadsheet by the FDIC, past due loans on commercial real estate at the largest banks (those with more than $250 billion in assets) as of December 31 of last year are at 4.11 percent. That’s 1.66 percent higher than at the end of the fourth quarter of 2008 when banks were exploding all over Wall Street during the financial crisis. As the chart below indicates, commercial real estate problems quickly became a lot worse at the largest banks, with the past due rate reaching 7.97 by the end of the first quarter of 2010.

Past Due Loans on Commercial Real Estate

That 4.11 percent past due rate at the biggest banks on December 31, 2023 compares with a past due rate of 1.35 percent at banks with $10 billion to $250 billion in assets, according to the latest FDIC bank profile data. Banks with $1 billion to $10 billion in assets have a negligible past due rate of 0.64 percent.

According to a report at CommercialEdge, Central Business District (CBD) office buildings “have been hit the hardest by the changes.” They cite a Washington, D.C. 13-story building with ground-floor retail space that “sold for $18.2 million in 2023, down 70% from its 2017 price tag of $61.8 million.”
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tw0122 tw0122 6 meses hace
Yesterday, American Banker released a report showing that five banks in the U.S. hold a combined half trillion dollars in commercial real estate (CRE) loans. It came as a big surprise to a lot of folks that the bank holding the largest amount of CRE loans is JPMorgan Chase – whose bank holding company is also exposed to $49 trillion in derivatives as of December 31, 2023 according to the Office of the Comptroller of the Currency. (See Table 14 at this link.)

JPMorgan Chase is already considered the riskiest bank in the U.S. according to its regulators.

American Banker reported the following CRE totals for the five banks: JPMorgan Chase, $173 billion; Wells Fargo, $139.65 billion; Bank of America, $82.8 billion; U.S. Bank, $55.66 billion; and PNC Bank, $48.89 billion.

Some of the same hubris and willful blindness that prevailed in the runup to the subprime mortgage crisis that blew up large financial institutions in 2008 is showing itself today in regard to commercial real estate loans at federally-insured banks.

On March 7, Federal Reserve Chairman Jerome Powell testified before the Senate Banking Committee as part of his Semiannual Monetary Policy Report to Congress. During his testimony, Powell downplayed concerns about the impact of commercial real estate loans at the largest banks. Powell stated: “There will be bank failures, but this is not the big banks. If you look at the very big banks, this is not a first order issue for any of the very large banks. It’s more smaller and medium size banks that have these issues.”

If CRE is not a problem at the largest banks, that’s because both the banks and the Fed believe that the Fed will always spring to the rescue with an emergency bailout program. In fact, the Fed has already created just such a program that’s waiting in the wings. It’s called the Standing Repo Facility (SRF). It has a lending capacity of $500 billion and can lend to both the federally-insured bank and its trading unit (primary dealer) – thus giving the so-called “universal banks” on Wall Street two bites at the bailout apple.

For a look at just how quickly the Fed can sluice money to Wall Street mega banks with few questions asked by Congress, check out the chart below. It shows the Fed’s emergency money spigot to the mega banks in the last quarter of 2019 – for a financial emergency at the banks which has yet to be explained to the American people.

Fed's Repo Loans to Largest Borrowers, Q4 2019, Adjusted for Term of Loan

To grasp how radically things have changed since 2008 when former Goldman Sachs veteran-turned Treasury Secretary Hank Paulson took a 3-page document to Congress and demanded a $700 billion taxpayer bailout for the banks (Troubled Asset Relief Program, TARP), let the full meaning of the chart above sink in. The Fed can now funnel trillions of dollars in cumulative loans to mega banks on Wall Street, report the names of the banks and amounts borrowed two years later, and get a complete news blackout from mainstream media. (Wall Street On Parade was the only media outlet to chart the details and report the names of the banks that got the trillions of dollars in loans in 2019.)

Powell might have his own agenda in playing down the risks to the mega banks on Wall Street. According to Senator Elizabeth Warren, who sits on the Senate Banking Committee, Powell is leading the charge behind the scenes to overturn federal regulators’ proposal to require the largest banks to hold larger amounts of capital to prevent a replay of the 2008 financial crisis.
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Prudent Capitalist Prudent Capitalist 6 meses hace
$200's printed this am. These new ATH's are becoming routine.
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