apnews.com
Nope. They have been doing this awhile. It is a combination of things I think, mostly two: to be able to pass the stress tests auditors throw at them; and 2) to be less reliant on the fed and Uncle Sam if things turn south. The government was very heavy handed with banks after 2008 to virtue signal they were looking out for main street.
JPMorgan sets aside more money for potential bad loans but says consumers are on 'solid footing'
JPMorgan says its net income fell to $12.9 billion in the third quarter from $13.2 billion a year ago.
Lasst year they reduced the amount in their reserves. Is it 2008 all over again ?
They reduced the figure last year.
So? JP Morgan is generally considered the safest of the big US banks. They have gotten very good and preparing for worst case scenarios.
