World Economy

JPMorgan in Trouble

JPMorgan in TroubleJPMorgan in Trouble

JPMorgan Chase would need $22b more in capital by 2019 to meet new Federal Reserve capital rules, the Fed said Tuesday. The Fed said that the eight big banks that will have to come up with a collective $21b to meet its proposed capital surcharge for systemically important institutions, AFP said. But in an open Fed board meeting vice chair Stanley Fischer said that only one bank actually had a shortfall: JPMorgan, and that it needs $22 billion in all. “JPMorgan... is the firm that is actually going to have to come up with more capital,” Fischer said.