Jamie Dimon

Though hopeful for a second-half bounceback in the economy, JPMorgan Chase is prepared for 20% unemployment, lackluster GDP and losses in its loan portfolio that could reach tens of billions of dollars.

The nation's largest bank set aside nearly $8.3 billion for bad loans, more than double what some analysts had expected.

Parties talking about a temporary lift of Wells' asset cap; GDP would have to drop an “unlikely” 35% in Q2 before JPMorgan would be forced to stop payouts.

The only current CEO who steered a major U.S. bank through the financial crisis, Dimon said JPMorgan’s earnings will be “down meaningfully” this year as a result of the coronavirus pandemic.

The CEO says he is getting stronger and working remotely; if the lockdown lasts several months, the GSEs may need a bailout, FHFA head Mark Calabria says.

Some banks have closed branches or restricted access and bank tech resources are being overwhelmed; bank pays a record SKr4 billion ($400 million) for issues.

The central bank will inject $1.5 trillion into the money market, including buying more longer-term bonds; JPMorgan says its CEO “is doing very well” as he recovers from heart surgery.

Potential replacements for the bank's longtime CEO include consumer banking chief Gordon Smith, investment banking head Daniel Pinto, Chief Financial Officer Jennifer Piepszak and consumer lending CEO Marianne Lake.

The JPM CEO is “recovering well” as the bank’s two co-presidents assume control; the House finance chairwoman says the bank board members neglected their duty.

JPMorgan Chase said Chief Executive Jamie Dimon underwent emergency heart surgery and that it’s placing co-Presidents Daniel Pinto and Gordon Smith in charge during his recuperation.