8-KRegulation FDExhibits & Filings

JPMORGAN CHASE & CO 8-K Report, Regulation FD Disclosure (Jun 21, 2019)

Filed June 21, 2019For Securities:JPMJPM-PCJPM-PDJPM-PKJPM-PLJPM-PMJPM-PJAMJBVYLD

Summary

JPMorgan Chase & Co. (JPM) filed an 8-K on June 21, 2019, to disclose the results of its company-run 2019 Dodd-Frank Act Stress Test (DFAST). These results were conducted under the hypothetical economic and market shock assumptions of the Federal Reserve Board's Supervisory Severely Adverse scenario. This disclosure provides investors with insight into the firm's capital resilience under extreme stress conditions, as assessed internally by the company. It is important for investors to note that these are the company's self-reported DFAST results and not the final determination by the Federal Reserve Board. The Federal Reserve will release its official 2019 Comprehensive Capital Analysis and Review (CCAR) results, which include a judgment on JPM's capital plan and proposed capital actions, on June 27, 2019. Investors should await the official CCAR results for the Fed's full assessment.

Key Highlights

  • 1JPM released its company-run 2019 Dodd-Frank Act Stress Test (DFAST) results.
  • 2The stress test was conducted using the Federal Reserve's Supervisory Severely Adverse scenario.
  • 3The disclosure provides a view of JPM's capital adequacy under severe hypothetical economic conditions.
  • 4This filing is for informational purposes and does not represent the Federal Reserve's final judgment.
  • 5Investors are advised to distinguish these company results from the upcoming official CCAR results from the Federal Reserve.
  • 6The Federal Reserve's CCAR results, including capital plan approval, are expected on June 27, 2019.

Frequently Asked Questions

The main purpose of this filing is to publicly disclose JPMorgan Chase's internally conducted 2019 Dodd-Frank Act Stress Test (DFAST) results. This provides investors with information on how the company's capital would perform under a severe hypothetical economic downturn.

No, these are the company-run DFAST results. The Federal Reserve Board will release its official assessment of JPMorgan Chase's capital plan and proposed capital actions as part of the 2019 Comprehensive Capital Analysis and Review (CCAR) on June 27, 2019. Investors should not infer the Fed's judgment from these self-reported results.

This refers to a hypothetical economic scenario and market shock assumption provided by the Federal Reserve Board for stress testing purposes. It's designed to simulate extreme adverse conditions to assess the resilience of financial institutions.

The Federal Reserve Board will publicly disclose the results of the 2019 Comprehensive Capital Analysis and Review (CCAR), including their judgment on JPM's capital plan and proposed capital actions, on June 27, 2019. Information on the Federal Reserve's stress test scenarios is available on the Federal Reserve Board's website.