Seeking capital savings, JP Morgan shifts assets to holding pen

Transfer of assets to HTM portfolio could reduce stress capital buffer in future

JP Morgan moved $76.6 billion of securities from its available-for-sale (AFS) portfolio to its held-to-maturity (HTM) book in Q3, as part of an effort to guard its regulatory capital ratio from mark-to-market volatility.

This follows a $26.1 billion migration of AFS mortgage-backed securities to the HTM portfolio in Q1. Bank of America made a similar move that same quarter.

The Q3 shuffling of assets was done for “capital management purposes” and resulted in the bank’s stock of HTM assets

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