The eight systemically important US banks put aside an additional $737 million of provisions for credit losses in the last quarter of 2018 in aggregate, with JP Morgan's reserves jumping a whopping 63% alone.
The New York-based lender posted total PCLs of $1.55 billion at end-2018, up from $948 million at end-September and are now at their highest level since early 2016.
Aggregate provisions across the US global systemically important banks (G-Sibs) hit $5.1 billion at end-2018, up 17% from
- Libor leaders: ABP crafts blueprint for corporate Libor switch
- Libor leaders: how seven firms are tackling the transition
- Libor replacement: a modelling framework for in-arrears term rates
- Swaps data: a new era of competition in interest rate futures
- From memos to texts, algos fish for signals in-house