Systemic US banks put aside $25bn for credit losses in Q1

JP Morgan took a $8.3 billion provision, the most of the eight G-Sibs

Loan-loss provisions took huge bites out of the eight US global systemically important banks’ first quarter income as they prepared for a wave of defaults from borrowers stricken by the coronavirus crisis.

In aggregate, the G-Sibs put aside $25.5 billion for loan-losses in Q1 – equivalent to 175% of their aggregate net income.

JP Morgan took a mammoth $8.3 billion provision for credit losses in Q1, almost six times more than in Q4 2019. The bank posted net income of $2.9 billion for the

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@risk.net or view our subscription options here: http://subscriptions.risk.net/subscribe

You are currently unable to copy this content. Please contact info@risk.net to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Risk.net? View our subscription options

Most read articles loading...

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here