Credit Risk Concentrations (Tables)

12 Months Ended

Dec. 31, 2022

The table below presents both on–balance sheet and off–balance sheet consumer and wholesale credit exposure by the Firm’s three credit portfolio segments as of December 31, 2022 and 2021. The wholesale industry of risk category is generally based on the client or counterparty’s primary business activity.


	2022									2021
	Credit exposure(h)		On-balance sheet					Off-balance sheet(j)		Credit exposure(h)		On-balance sheet					Off-balance sheet(j)
December 31, (in millions)			Loans			Derivatives						Loans			Derivatives
Consumer, excluding credit card	$	344,893	$	311,375	(i)	$	—	$	33,518	$	368,640	$	323,306	(i)	$	—	$	45,334
Credit card(a)	1,006,459		185,175			—		821,284		884,830		154,296			—		730,534
Total consumer(a)	1,351,352		496,550			—		854,802		1,253,470		477,602			—		775,868
Wholesale(b)
Real Estate	170,857		131,681			249		38,927		155,069		119,753			1,113		34,203
Individuals and Individual Entities(c)	130,815		120,424			434		9,957		141,973		130,576			1,317		10,080
Consumer & Retail	120,555		45,867			1,650		73,038		122,789		39,588			2,669		80,532
Asset Managers	95,656		40,511			16,397		38,748		81,228		41,031			9,351		30,846
Industrials	72,483		26,960			1,770		43,753		66,974		21,652			1,224		44,098
Technology, Media & Telecommunications	72,286		21,622			2,950		47,714		84,070		17,815			2,640		63,615
Healthcare	62,613		22,970			1,683		37,960		59,014		18,587			2,575		37,852
Banks & Finance Cos	51,816		32,172			3,246		16,398		54,684		34,217			4,418		16,049
Oil & Gas	38,668		9,632			5,121		23,915		42,606		11,039			6,034		25,533
Utilities	36,218		9,107			3,269		23,842		33,203		5,969			3,736		23,498
State & Municipal Govt(d)	33,847		18,147			585		15,115		33,216		15,322			1,563		16,331
Automotive	33,287		14,735			529		18,023		34,573		11,759			720		22,094
Insurance	21,045		2,387			8,081		10,577		13,926		1,303			2,700		9,923
Chemicals & Plastics	20,030		5,771			407		13,852		17,660		5,033			564		12,063
Central Govt	19,095		3,167			12,955		2,973		11,317		2,889			6,837		1,591
Metals & Mining	15,915		5,398			475		10,042		16,696		5,696			924		10,076
Transportation	15,009		5,005			567		9,437		14,635		5,453			782		8,400
Securities Firms	8,066		556			3,387		4,123		4,180		469			1,260		2,451
Financial Markets Infrastructure	4,962		13			3,050		1,899		4,377		5			2,487		1,885
All other(e)	123,307		87,545			4,075		31,687		111,690		72,198			4,167		35,325
Subtotal	1,146,530		603,670			70,880		471,980		1,103,880		560,354			57,081		486,445
Loans held-for-sale and loans at fair value	35,427		35,427			—		—		39,758		39,758			—		—
Receivables from customers(f)	49,257		—			—		—		59,645		—					—
Total wholesale	1,231,214		639,097			70,880		471,980		1,203,283		600,112			57,081		486,445
Total exposure(g)(h)	$	2,582,566	$	1,135,647		$	70,880	$	1,326,782	$	2,456,753	$	1,077,714		$	57,081	$	1,262,313

(a)Also includes commercial card lending-related commitments primarily in CB and CIB.

(b)The industry rankings presented in the table as of December 31, 2021, are based on the industry rankings of the corresponding exposures at December 31, 2022, not actual rankings of such exposures at December 31, 2021.

(c)Individuals and Individual Entities predominantly consists of Global Private Bank clients within AWM and J.P. Morgan Wealth Management within CCB, and includes exposure to personal investment companies and personal and testamentary trusts.

(d)In addition to the credit risk exposure to states and municipal governments (both U.S. and non-U.S.) at December 31, 2022 and 2021, noted above, the Firm held: $6.6 billion and $7.1 billion, respectively, of trading assets; $6.8 billion and $15.9 billion, respectively, of AFS securities; and $19.7 billion and $14.0 billion, respectively, of HTM securities, issued by U.S. state and municipal governments. Refer to Note 2 and Note 10 for further information.

(e)All other includes: SPEs and Private education and civic organizations, representing approximately 95% and 5%, respectively, at December 31, 2022 and 94% and 6%, respectively, at December 31, 2021. Refer to Note 14 for more information on exposures to SPEs.

(f)Receivables from customers reflect held-for-investment margin loans to brokerage clients in CIB, CCB and AWM that are collateralized by assets maintained in the clients’ brokerage accounts (e.g., cash on deposit, liquid and readily marketable debt or equity securities). Because of this collateralization, no allowance for credit losses is generally held against these receivables. To manage its credit risk the Firm establishes margin requirements and monitors the required margin levels on an ongoing basis, and requires clients to deposit additional cash or other collateral, or to reduce positions, when appropriate. These receivables are reported within accrued interest and accounts receivable on the Firm’s Consolidated balance sheets.

(g)Excludes cash placed with banks of $556.6 billion and $729.6 billion, at December 31, 2022 and 2021, respectively, which is predominantly placed with various central banks, primarily Federal Reserve Banks.

(h)Credit exposure is net of risk participations and excludes the benefit of credit derivatives used in credit portfolio management activities held against derivative receivables or loans and liquid securities and other cash collateral held against derivative receivables.

(i)At December 31, 2022 and 2021, included $350 million and $5.4 billion of loans in Business Banking under the PPP, respectively. PPP loans are guaranteed by the SBA. Other than in certain limited circumstances, the Firm typically does not recognize charge-offs, classify as nonaccrual nor record an allowance for loan losses on these loans.

(j)Represents lending-related financial instruments.