DFAST: JP Morgan accounts for one-fifth of projected losses
Bulk of losses would come from bank’s loan portfolio, projected to incur total losses of $60.3bn
JP Morgan’s mega loan portfolio would see it bear the brunt of losses under a severe recession, according to the results of this year’s Federal Reserve Dodd-Frank Act Stress Test. Fellow universal banks Citi, Bank of America and Wells Fargo were the next worst hit.
Under this year’s DFAST severely adverse scenario, which saw real US GDP contract by –9.4% and unemployment leap to 10%, JP Morgan
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