NEW YORK (Reuters) – JPMorgan Chase & Co Chief Financial Officer Jennifer Piepszak said she expects the bank’s capital surcharge requirement to be 4% unless there is a regulatory change.
These surcharges require the bank to hold more capital, which can mean a bank lends less.
“It would be very, very difficult for us to get back to 3.5% without recalibration, so we expect to be in the 4% bucket,” Piepszak said at a virtual conference hosted by Credit Suisse.
(Reporting By Elizabeth Dilts Marshall)
