XML 67 R48.htm IDEA: XBRL DOCUMENT v3.24.2.u1
Allowance for Credit Losses (Tables)
 6 Months Ended
Jun. 30, 2024
Credit Loss [Abstract]  
Allowance for credit losses on loans and lending-related commitments
The table below summarizes information about the allowances for credit losses and includes a breakdown of loans and lending-related commitments by impairment methodology. Refer to Note 10 of JPMorgan Chase’s 2023 Form 10-K and Note 9 of this Form 10-Q for further information on the allowance for credit losses on investment securities.
2024
2023
Six months ended June 30,
(in millions)		Consumer, excluding
credit card		Credit cardWholesaleTotalConsumer, excluding credit cardCredit cardWholesaleTotal
Allowance for loan losses
Beginning balance at January 1,$1,856 $12,450 $8,114 $22,420 $2,040 $11,200 $6,486 $19,726 
Cumulative effect of a change in accounting principle(a)
NANANANA(489)(100)2 (587)
Gross charge-offs661 3,998 448 5,107 501 2,432 294 3,227 
Gross recoveries collected(343)(482)(95)(920)(247)(386)(46)(679)
Net charge-offs/(recoveries)318 3,516 353 4,187 254 2,046 248 2,548 
Provision for loan losses204 4,266 288 4,758 751 2,546 2,067 5,364 
Other
1 — (1)— — — 25 25 
Ending balance at June 30,
$1,743 $13,200 $8,048 $22,991 $2,048 $11,600 $8,332 $21,980 
Allowance for lending-related commitments
Beginning balance at January 1,
$75 $— $1,899 $1,974 $76 $— $2,306 $2,382 
Provision for lending-related commitments17 — 77 94 52 — (253)(201)
Other
— — — — 1 — 4 5 
Ending balance at June 30,
$92 $— $1,976 $2,068 $129 $— $2,057 $2,186 
Total allowance for investment securitiesNANANA177 NANANA104 
Total allowance for credit losses(b)
$1,835 $13,200 $10,024 $25,236 $2,177 $11,600 $10,389 $24,270 
Allowance for loan losses by impairment methodology
Asset-specific(c)
$(856)$— $562 $(294)$(971)$— $478 $(493)
Portfolio-based2,599 13,200 7,486 23,285 3,019 11,600 7,854 22,473 
Total allowance for loan losses$1,743 $13,200 $8,048 $22,991 $2,048 $11,600 $8,332 $21,980 
Loans by impairment methodology
Asset-specific(c)
$3,034 $— $3,283 $6,317 $3,439 $— $2,587 $6,026 
Portfolio-based379,761 216,100 670,869 1,266,730 392,756 191,348 665,558 1,249,662 
Total retained loans$382,795 $216,100 $674,152 $1,273,047 $396,195 $191,348 $668,145 $1,255,688 
Collateral-dependent loans
Net charge-offs$3 $— $134 $137 $5 $— $77 $82 
Loans measured at fair value of collateral less cost to sell
2,978 — 1,341 4,319 3,388 — 762 4,150 
Allowance for lending-related commitments by impairment methodology
Asset-specific
$— $— $107 $107 $— $— $65 $65 
Portfolio-based
92 — 1,869 1,961 129 — 1,992 2,121 
Total allowance for lending-related commitments(d)
$92 $— $1,976 $2,068 $129 $— $2,057 $2,186 
Lending-related commitments by impairment methodology
Asset-specific
$— $— $541 $541 $— $— $332 $332 
Portfolio-based(e)
27,375 — 511,857 539,232 32,428 — 521,408 553,836 
Total lending-related commitments
$27,375 $— $512,398 $539,773 $32,428 $— $521,740 $554,168 
(a)Represents the impact to the allowance for loan losses upon the adoption of the Financial Instruments - Credit Losses: Troubled Debt Restructurings accounting guidance. Refer to Note 1 of JPMorgan Chase's 2023 Form 10-K for further information.
(b)At June 30, 2024 and 2023, in addition to the allowance for credit losses in the table above, the Firm also had an allowance for credit losses of $278 million and $18 million, respectively, associated with certain accounts receivable in CIB.
(c)Includes collateral-dependent loans, including those for which foreclosure is deemed probable, and nonaccrual risk-rated loans.
(d)The allowance for lending-related commitments is reported in accounts payable and other liabilities on the Consolidated balance sheets.
(e)At June 30, 2024 and 2023, lending-related commitments excluded $19.8 billion and $18.4 billion, respectively, for the consumer, excluding credit card portfolio segment; $964.7 billion and $881.5 billion, respectively, for the credit card portfolio segment; and $32.6 billion and $19.3 billion, respectively, for the wholesale portfolio segment, which were not subject to the allowance for lending-related commitments.
U.S. unemployment rates and cumulative change in U.S. real GDP
The following table presents the Firm’s central case assumptions for the periods presented:
Central case assumptions
at June 30, 2024
4Q242Q254Q25
U.S. unemployment rate(a)
4.1 %4.1 %4.0 %
YoY growth in U.S. real GDP(b)
1.5 %1.6 %1.9 %
Central case assumptions
at December 31, 2023
2Q244Q242Q25
U.S. unemployment rate(a)
4.1 %4.4 %4.1 %
YoY growth in U.S. real GDP(b)
1.8 %0.7 %1.0 %
(a)Reflects quarterly average of forecasted U.S. unemployment rate.
(b)The year over year growth in U.S. real GDP in the forecast horizon of the central scenario is calculated as the percentage change in U.S. real GDP levels from the prior year.