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But what if those risky positions on JPMorgan's books are really the U.S. government's?
Federal Data Show JPMorgan Chase Is, By Far, the Riskiest Bank in the U.S.
By Pam and Russ Martens
Wall Street on Parade
Tuesday, July 26, 2022
The long-tenured Chairman and CEO of JPMorgan Chase, Jamie Dimon, likes to use the phrase "fortress balance sheet" when talking about his bank to Congress or shareholders. But the data stored at its federal regulators show that the bank is, by far, the most systemically dangerous bank in the United States.
And despite its high-risk profile, neither Congress nor federal regulators have restricted the bank's growth. Its assets have soared by 65% since the end of 2016 and stood at $3.95 trillion as of March 31, making it the largest bank in the United States.
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Making this situation even more dangerous, the bank has admitted to five criminal felony counts over the past eight years and a multitude of civil crimes and multi-billion dollar fines -- all during the tenure of Dimon.
Neither Congress nor federal regulators nor the Justice Department that brought those felony counts has demanded that Dimon be replaced. The Board of Directors of the bank has been equally obsequious toward Dimon, awarding him a $50 million bonus after the bank admitted to its fourth and fifth felony counts for "tens of thousands" of trades that rigged the precious metals and U.S. Treasury markets.
Our data comes from the National Information Center, a repository of bank data collected by the Federal Reserve. It is part of the Federal Financial Institutions Examination Council, which was created by federal legislation to create uniformity in the examination of U.S. financial institutions by the various banking regulators.
Each year the National Information Center creates a graphic profile of banks measured by 12 systemic risk indicators. The data used to create these graphics come from the "Systemic Risk Report" or form FR Y-15 that banks are required to file with the Federal Reserve. To measure the systemic risk that a particular bank poses to the stability of the U.S. financial system, the data is broken down into five categories of system risk: size, interconnectedness, substitutability, complexity, and cross-jurisdictional activity. Those measurements consist of 12 pieces of financial information that banks have to provide on their Y-15 forms.
The most recent data is for the period ending December 31, 2020. It indicates that in eight out of 12 measurements -- or two-thirds of all systemic risk measurements -- JPMorgan Chase ranks at the top for having the riskiest footprint among its peer banks. ...
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