Jul
21
JPMorgan falls $12.5 billion short of meeting Fed’s capital requirements
ByThe company needs to acquire more capital or risk failing, Fed Chair Janet Yellen said in a statement.
Photo: Bloomberg News
JPMorgan is the only one of eight of the country’s biggest banks facing a capital shortfall.
JPMorgan Chase & Co. still has a shortfall of as much as $12.5 billion in meeting capital rules approved by the Federal Reserve on Monday.
The Fed assigned capital charges totaling more than $200 billion for eight of the biggest and most complex U.S. banks to mitigate the danger that they could threaten the financial system. The extra capital requirements, or surcharges, range from 1% to 4.5% of the banks’ risk-weighted assets, leaving the firms to choose between expensive capital demands or getting smaller…
JPMorgan falls $12.5 billion short of meeting Fed’s capital requirements
