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.