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Allowance for Credit Losses (Tables)
 9 Months Ended
Sep. 30, 2021
Credit Loss [Abstract]  
Allowance for credit losses on financing receivables
The table below summarizes information about the allowances for loan losses and lending-related commitments, and includes a breakdown of loans and lending-related commitments by impairment methodology. Refer to Note 10 of JPMorgan Chase’s 2020 Form 10-K for further information on the allowance for credit losses on investment securities.
2021
2020
Nine months ended September 30,
(in millions)		Consumer, excluding
credit card		Credit cardWholesaleTotalConsumer, excluding credit cardCredit cardWholesaleTotal
Allowance for loan losses
Beginning balance at January 1,$3,636 $17,800 $6,892 $28,328 $2,538 $5,683 $4,902 $13,123 
Cumulative effect of a change in accounting principle
NANANANA297 5,517 (1,642)4,172 
Gross charge-offs452 2,957 187 3,596 620 4,104 641 5,365 
Gross recoveries collected(470)(724)(87)(1,281)(483)(585)(88)(1,156)
Net charge-offs/(recoveries)(18)2,233 100 2,315 137 3,519 553 4,209 
Provision for loan losses(1,778)(3,917)(2,162)(7,857)1,803 10,119 5,802 17,724 
Other
(2)— (4)(6)1 — 3 4 
Ending balance at September 30,$1,874 $11,650 $4,626 $18,150 $4,502 $17,800 $8,512 $30,814 
Allowance for lending-related commitments
Beginning balance at January 1,
$187 $— $2,222 $2,409 $12 $— $1,179 $1,191 
Cumulative effect of a change in accounting principle
NANANANA133 — (35)98 
Provision for lending-related commitments
(45)— (61)(106)71 — 1,464 1,535 
Other
— — 2 2 — — (1)(1)
Ending balance at September 30,$142 $— $2,163 $2,305 $216 $— $2,607 $2,823 
Total allowance for credit losses(a)
$2,016 $11,650 $6,789 $20,455 $4,718 $17,800 $11,119 $33,637 
Allowance for loan losses by impairment methodology
Asset-specific(b)
$(571)$383 $357 $169 $228 $652 $792 $1,672 
Portfolio-based2,445 11,267 4,269 17,981 4,274 17,148 7,720 29,142 
Total allowance for loan losses$1,874 $11,650 $4,626 $18,150 $4,502 $17,800 $8,512 $30,814 
Loans by impairment methodology
Asset-specific(b)
$14,464 $1,083 $2,330 $17,877 $16,888 $1,432 $3,856 $22,176 
Portfolio-based283,844 142,083 530,456 956,383 288,218 138,158 496,985 923,361 
Total retained loans$298,308 $143,166 $532,786 $974,260 $305,106 $139,590 $500,841 $945,537 
Collateral-dependent loans
Net charge-offs$26 $— $9 $35 $109 $— $22 $131 
Loans measured at fair value of collateral less cost to sell
4,460 — 364 4,824 4,517 — 130 4,647 
Allowance for lending-related commitments by impairment methodology
Asset-specific
$— $— $129 $129 $— $— $109 $109 
Portfolio-based
142 — 2,034 2,176 216 — 2,498 2,714 
Total allowance for lending-related commitments(c)
$142 $— $2,163 $2,305 $216 $— $2,607 $2,823 
Lending-related commitments by impairment methodology
Asset-specific
$— $— $641 $641 $— $— $607 $607 
Portfolio-based(d)
36,819 — 457,548 494,367 35,587 — 416,267 
(d)
451,854 
Total lending-related commitments
$36,819 $— $458,189 $495,008 $35,587 $— $416,874 $452,461 
(a)Excludes the allowance for credit losses on investment securities of $73 million and $120 million as of September 30, 2021 and 2020, respectively.
(b)Includes collateral dependent loans, including those considered TDRs and those for which foreclosure is deemed probable, modified PCD loans and non-collateral dependent loans that have been modified or are reasonably expected to be modified in a TDR. Also includes risk-rated loans that have been placed on nonaccrual status for the wholesale portfolio segment. The asset-specific credit card allowance for loans modified, or reasonably expected to be modified, in a TDR is calculated based on the loans’ original contractual interest rates and does not consider any incremental penalty rates.
(c)The allowance for lending-related commitments is reported in accounts payable and other liabilities on the Consolidated balance sheets.
(d)At September 30, 2021 and 2020, lending-related commitments excluded $19.9 billion and $10.8 billion, respectively, for the consumer, excluding credit card portfolio segment; $710.6 billion and $662.9 billion, respectively, for the credit card portfolio segment; and $41.0 billion and $24.4 billion, respectively, for the wholesale portfolio segment, which were not subject to the allowance for lending-related commitments. Prior-period amount for wholesale lending-related commitments, including the amount not subject to allowance, has been revised to conform with the current presentation.
U.S. unemployment rates and cumulative change in U.S. real GDP
The Firm’s central case assumptions reflected U.S. unemployment rates and U.S. real GDP as follows:
Assumptions at September 30, 2021
4Q212Q224Q22
U.S. unemployment rate(a)
5.1 %4.4 %4.1 %
Cumulative change in U.S. real GDP from 12/31/20193.3 %5.0 %6.2 %
Assumptions at December 31, 2020
2Q214Q212Q22
U.S. unemployment rate(a)
6.8 %5.7 %5.1 %
Cumulative change in U.S. real GDP from 12/31/2019(1.9)%0.6 %2.0 %
(a)Reflects quarterly average of forecasted U.S. unemployment rate.