Systemic US banks released $9.4bn of credit reserves in Q1

US global systemically important banks (G-Sibs) injected $9.4 billion of credit reserves into income in Q1 2021, helping boost profits and going some way to depleting the $64.7 billion pile of earnings set aside last year to cover expected losses due to the coronavirus crisis.

JP Morgan and Citi reversed $4.2 billion and $2.1 billion in provisions, respectively, after setting aside the most of the systemic banks, $17.5 billion each, in 2020. Citi’s Q1 2021 profits were $7.9 billion and JP

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 [email protected] or view our subscription options here: http://subscriptions.risk.net/subscribe

You are currently unable to copy this content. Please contact [email protected] to find out more.

To continue reading...

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: