JPMorgan Chase
26 named things its latest annual report says its results depend on, each in the company's own words. 18 of them are also named by other companies we've read.
Partners and platforms
Federal Home Loan Banks
depends onnamed as a riskJPMorganChase may need to raise funding from alternative sources if its access to stable and lower-cost funding, such as deposits and borrowings from Federal Home Loan Banks, is reduced.Risk factors (Item 1A)
Central counterparties (CCPs)
depends onnamed as a riskIn addition, if a member of a CCP in which JPMorganChase is also a member defaults on its obligations to the CCP, JPMorganChase could incur losses due to requirements that each member of the CCP absorb a portion of those losses.Risk factors (Item 1A)
Other companies
Commercial real estate
insures or lends tonamed as a riskThese consequences could result in JPMorganChase experiencing an increase in the allowance for credit losses, higher delinquencies, defaults and charge-offs within its commercial real estate loan portfolio and incurring higher costs for servicing a larger volume of delinquent loans in that portfolio.Risk factors (Item 1A)
Also named by AFL, APO, AUB, BAC, C, CFR, FSUN, GBCI and 11 more
Mortgage servicing rights
exposed to its pricenamed as a riska reduction in the value of JPMorganChase’s mortgage servicing rights (“MSRs”) asset, resulting in decreased revenues.Risk factors (Item 1A)
JPMorgan Chase Holdings LLC
depends onnamed as a riskAs a result of these arrangements, the Parent Company is generally dependent on receiving dividends from JPMorgan Chase Bank, N.A. and dividends and borrowings from the IHC in order to:Risk factors (Item 1A)
Places
Russia
named as a riskThese risks could become highly correlated or combine in unexpected ways under certain circumstances, including geopolitically challenging situations in regions such as Russia, the Middle East and China.Risk factors (Item 1A)
Also named by ALSN, ATR, AVY, AXP, BKR, BSX, C, CDNA and 50 more
China
named as a riskThese risks could become highly correlated or combine in unexpected ways under certain circumstances, including geopolitically challenging situations in regions such as Russia, the Middle East and China.Risk factors (Item 1A)
Also named by A, AA, AAOI, AAP, AAPL, AB, ADI, AEHR and 261 more
Middle East
named as a riskThese risks could become highly correlated or combine in unexpected ways under certain circumstances, including geopolitically challenging situations in regions such as Russia, the Middle East and China.Risk factors (Item 1A)
Also named by BKR, CAG, CINF, CPB, CTAS, FLS, GAIN, J and 10 more
United Kingdom
operates inIn the U.K., the Firm operates a retail bank through J.P. Morgan Europe Limited (“JPMEL”) and provides retail investment management services through J.P. Morgan Personal Investing Limited (“JPM PI”).Business (Item 1)
Also named by AGX, AJG, AMP, BAC, BF/B, BGC, BRO, C and 59 more
Regulators
Federal Deposit Insurance Corporation (FDIC)
subject tonamed as a riskJPMorganChase must periodically submit a detailed resolution plan to the Federal Reserve and the FDIC for its rapid and orderly resolution in bankruptcy, without extraordinary government support, in the event of material financial distress or failure.Risk factors (Item 1A)
Also named by AFRM, BAC, BNY, CASH, CFG, CFR, COF, FCFS and 27 more
Federal Reserve
subject tonamed as a riskJPMorgan Chase & Co. is a bank holding company (“BHC”) and a financial holding company (“FHC”) under U.S. federal law, and is subject to comprehensive consolidated supervision, regulation and examination by the Board of Governors of the Federal Reserve System (the “Federal Reserve”).Business (Item 1)
Also named by AGNC, AUB, AXP, BAC, CASH, COF, DX, EFSC and 24 more
Office of the Comptroller of the Currency (OCC)
subject tonamed as a riskThe Firm remains subject to a consent order entered into in March 2024 with the OCC which relates to the Firm’s processes to inventory trading venues and confirm the completeness of certain data fed to trade surveillance platforms.Business (Item 1)
Also named by ADP, AMP, AXP, BAC, BLK, C, CASH, CFG and 22 more
U.S. Securities and Exchange Commission (SEC)
subject toJPMorganChase’s U.S. broker-dealers are supervised and regulated by the Securities and Exchange Commission (“SEC”) and the Financial Industry Regulatory Authority (“FINRA”).Business (Item 1)
Also named by AB, ADSK, AMG, AMP, ARCC, ARES, BAM, BCSF and 44 more
Office of Foreign Assets Control (OFAC)
subject toThe Firm is also subject to the regulations and economic sanctions programs administered and enforced by the U.S. Treasury’s Office of Foreign Assets Control (“OFAC”) and EU and U.K. authorities which target entities or individuals that are, or are located in countries that are, involved in activities including terrorism, hostilities, embezzlement or human rights violations.Business (Item 1)
Also named by ABNB, ADP, AIG, APP, BMI, BMNR, BPOP, CAT and 46 more
Commodity Futures Trading Commission (CFTC)
subject toIn the U.S., JPMorgan Chase Bank, N.A., J.P. Morgan Securities LLC and J.P. Morgan Securities plc are registered with the CFTC as “swap dealers.”Business (Item 1)
Also named by AB, ADM, AGNC, AMG, BAC, BGC, BMNR, C and 35 more
European Central Bank (ECB)
subject toJPMSE is a Germany-based credit institution jointly regulated by the European Central Bank (“ECB”), the German Financial Supervisory Authority and the German Central Bank, as well as the local regulators in each of the countries in which it operates.Business (Item 1)
U.K. Prudential Regulation Authority (PRA)
subject toJ.P. Morgan Securities plc holds a banking license in the U.K. and is regulated by the U.K. Prudential Regulation Authority (the “PRA”) and the U.K. Financial Conduct Authority (“FCA”).Business (Item 1)
Laws and programs
Community Reinvestment Act
subject tonamed as a riskIf any depository institution controlled by an FHC fails to maintain a satisfactory rating under the Community Reinvestment Act, the Federal Reserve must prohibit the FHC and its subsidiaries from engaging in any new activities other than those permissible for BHCs, or acquiring a company engaged in such activities.Business (Item 1)
Also named by ALLY, AMP, AUB, CFG, CFR, EFSC, EWBC, FCNCA and 20 more
Comprehensive Capital Analysis and Review (CCAR)
subject tonamed as a riskAs a large BHC, JPMorganChase is subject to supervisory stress testing administered by the Federal Reserve as part of the Federal Reserve’s annual Comprehensive Capital Analysis and Review (“CCAR”) framework.Business (Item 1)
Department of Labor fiduciary rule (ERISA)
subject tonamed as a riskIn April 2024, the Department of Labor (“DOL”) finalized a “fiduciary” rule that would significantly expand who is deemed to be an investment advice fiduciary for retirement plans and individual retirement accounts under the Employee Retirement Income Security Act of 1947 and could affect fee and compensation practices at financial institutions that provide investment recommendations to retirement clients.Business (Item 1)
Federal Reserve debit interchange fee cap (Regulation II)
subject tonamed as a riskIn October 2023, the Federal Reserve proposed to lower the maximum interchange fee that large debit card issuers, including the Firm, would be permitted to receive for a debit card transaction.Business (Item 1)
Basel III capital framework
subject tonamed as a riskThat proposal, which has not been finalized, would have significantly revised risk-based capital requirements for banks with assets of $100 billion or more, including the Firm and other U.S. global systemically important banks ("GSIBs").Business (Item 1)
Title II of the Dodd-Frank Act
subject tonamed as a riskIf the Parent Company were to enter into a resolution, holders of eligible LTD, other unsecured creditors and holders of equity securities of the Parent Company will absorb the losses of the Parent Company and its subsidiaries.Risk factors (Item 1A)
Corporate Sustainability Due Diligence Directive (CSDDD)
subject toBoth the CSRD and CSDDD will impact certain of the Firm’s EU and non-EU entities.Business (Item 1)
Technology
Stablecoins and tokenized securities
competes withnamed as a riskFurthermore, both financial institutions and their non-banking competitors face the risk of disruption to payments processing and other products and services from the use of new technologies that may not require intermediation, such as tokenized securities or other products that leverage distributed ledger technology.Risk factors (Item 1A)
Generative and agentic AI
named as a riskIf JPMorganChase does not keep pace with rapidly changing technological advances, including the adoption of generative AI, it risks losing clients and market share to competitors, which could negatively impact revenues, operating costs and its competitive position.Risk factors (Item 1A)