Loan balances by portfolio segment

Consumer, excluding

December 31, 2010 (in millions)

Wholesale

credit card

Credit Card

Total

Retained^(a)

222,510

327,464

135,524

685,498

^(b)

Held-for-sale

3,147

154

2,152

5,453

At fair value

1,976

—

1,976

Total

227,633

327,618

137,676

692,927


			Consumer, excluding
December 31, 2009 (in millions)	Wholesale		credit card		Credit Card		Total

Retained	$	200,077	$	348,355	$	78,786	$	627,218	^(b)
Held-for-sale		2,734		2,142		—		4,876
At fair value		1,364		—		—		1,364

Total	$	204,175	$	350,497	$	78,786	$	633,458


(a)		Effective January 1, 2010, the Firm adopted accounting guidance related to VIEs. Upon adoption of the guidance, the Firm consolidated $84.7 billion of loans associated with Firm-sponsored credit card securitization trusts; $15.1 billion of wholesale loans; and $4.8 billion of loans associated with certain other consumer securitization entities, primarily mortgage-related. For further information, see Note 16 on pages 244–259 of this Annual Report.

(b)		Loans (other than PCI loans and those for which the fair value option has been selected) are presented net of unearned income, unamortized discounts and premiums, and net deferred loan costs of $1.9 billion and $1.4 billion at December 31, 2010 and 2009, respectively.

Net gains/(losses) on loan sales by portfolio segment


Year ended December 31, (in millions)	2010			2009		2008

Net gains/(losses) on sales of loans (including lower of cost or fair value adjustments)^(a)
Wholesale	$	215		$	291	$	(2,647	)
Consumer, excluding credit card		265			127		(11	)
Credit Card		(16	)		21		150

Total net gains/(losses) on sales of loans (including lower of cost or fair value adjustments)^(a)	$	464		$	439	$	(2,508	)


(a)		Excludes sales related to loans accounted for at fair value.

Wholesale real estate class of loans


December 31,	Multi-family						Commercial lessors
(in millions, except ratios)	2010			2009			2010			2009

Real estate retained loans	$	30,604		$	31,077		$	15,796		$	15,170
Criticized exposure		3,798			3,942			3,593			3,855
% of total real estate retained loans		12.41	%		12.68	%		22.75	%		25.41	%
Criticized nonaccrual	$	1,016		$	1,109		$	1,549		$	687
% of total real estate retained loans		3.32	%		3.57	%		9.81	%		4.53	%

(table continued from previous page)


Commercial construction and development						Other						Total real estate loans
2010			2009			2010			2009			2010			2009

$	3,395		$	4,599		$	3,840		$	6,349		$	53,635		$	57,195
	619			1,359			696			1,591			8,706			10,747
	18.23	%		29.55	%		18.13	%		25.06	%		16.23	%		18.79	%
$	174		$	313		$	198		$	779		$	2,937		$	2,888
	5.13	%		6.81	%		5.16	%		12.27	%		5.48	%		5.05	%

Wholesale [Member]

Residential real estate excluding purchased credit-impaired loans


	Commercial								Financial				Government								Total
December 31,	and industrial				Real estate				institutions				agencies				Other				retained loans
(in millions)	2010		2009		2010		2009		2010		2009		2010		2009		2010		2009		2010		2009

Impaired loans
With an allowance	$	1,512	$	2,171	$	2,510	$	2,998	$	127	$	579	$	22	$	4	$	697	$	595	$	4,868	$	6,347
Without an allowance^(a)		157		89		445		363		8		149		—		—		8		12		618		613

Total impaired loans	$	1,669	$	2,260	$	2,955	$	3,361	$	135	$	728	$	22	$	4	$	705	$	607	$	5,486	$	6,960

Allowance for loan losses related to impaired loans^(b)		435		454		825		1,212		61		165		14		1		239		214		1,574		2,046
Unpaid principal balance of impaired loans^(c)		2,453		3,042		3,487		3,649		244		918		30		4		1,046		760		7,260		8,373


(a)		When the discounted cash flows, collateral value or market price equals or exceeds the recorded investment in the loan, then the loan does not require an allowance. This typically occurs when the impaired loans have been partially charged-off and/or there have been interest payments received and applied to the loan balance.

(b)		The allowance for impaired loans is included in JPMorgan Chase’s asset-specific allowance for loan losses.

(c)		Represents the contractual amount of principal owed at December 31, 2010 and 2009. The unpaid principal balance differs from the impaired loan balances due to various factors, including charge-offs; interest payments received and applied to the carrying value; net deferred loan fees or costs; and discount or premiums on purchased loans.


	Commercial
As of or for the year ended December 31,	and industrial						Real estate
(in millions, except ratios)	2010			2009			2010			2009

Loans by risk ratings
Investment grade	$	31,697		$	31,203		$	28,504		$	31,986
Noninvestment grade:
Noncriticized		30,874			28,714			16,425			14,462
Criticized performing		2,371			6,079			5,769			7,859
Criticized-total nonaccrual		1,634			2,245			2,937			2,888

Total noninvestment grade		34,879			37,038			25,131			25,209

Total retained loans	$	66,576		$	68,241		$	53,635		$	57,195

% of total criticized to total retained loans		6.02	%		12.20	%		16.23	%		18.79	%
% of nonaccrual loans to total retained loans		2.45			3.29			5.48			5.05

Loans by geographic distribution^(a)
Total non-U.S.	$	17,731		$	19,138		$	1,963		$	2,227
Total U.S.		48,845			49,103			51,672			54,968

Total retained loans	$	66,576		$	68,241		$	53,635		$	57,195


Net charge-offs	$	403		$	1,243		$	862		$	688
% of net charge-offs to retained loans^(b)		0.61	%		1.82	%		1.61	%		1.20	%

Loan delinquency^(c)
Current and less than 30 days past due and still accruing	$	64,501		$	65,692		$	50,299		$	53,370
30–89 days past due and still accruing		434			276			290			823
90 or more days past due and still accruing^(d)		7			28			109			114
Nonaccrual		1,634			2,245			2,937			2,888

Total retained loans	$	66,576		$	68,241		$	53,635		$	57,195


(a)		U.S. and non-U.S. distribution is determined based predominantly on the domicile of the borrower.

(b)		Ratios were calculated using end-of-period retained loans.

(c)		For wholesale loans, the past due status of a loan is generally not a significant indicator of credit quality due to the ongoing review and monitoring of an obligor’s ability to meet contractual obligations. For a discussion of more significant factors, see page 223 of this Note.

(d)		Represents loans that are 90 days or more past due as to principal and/or interest, but that are still accruing interest; these loans are considered well-collateralized.

(e)		Effective January 1, 2010, the Firm adopted accounting guidance related to VIEs. Upon adoption of the guidance, the Firm consolidated $15.1 billion of wholesale loans. For further information, see Note 16 on pages 244–259 of this Annual Report.

(f)		Other primarily includes loans to special purpose entities and loans to private banking clients. See Note 1 on page 164–165 of this Annual Report for additional information on SPEs.


Financial																		Total
institutions						Government agencies						Other^(e)(f)						retained loans^(e)
2010			2009			2010			2009			2010			2009			2010			2009


$	22,525		$	14,878		$	6,871		$	6,684		$	56,450		$	33,780		$	146,047		$	118,531

	8,480			8,319			382			624			6,012			6,704			62,173			58,823
	317			1,201			3			28			320			997			8,780			16,164
	136			729			22			5			781			692			5,510			6,559

	8,933			10,249			407			657			7,113			8,393			76,463			81,546

$	31,458		$	25,127		$	7,278		$	7,341		$	63,563		$	42,173		$	222,510		$	200,077

	1.44	%		7.68	%		0.34	%		0.45	%		1.73	%		4.00	%		6.42	%		11.36	%
	0.43			2.90			0.30			0.07			1.23			1.64			2.48			3.28


$	19,756		$	11,755		$	870		$	1,707		$	25,831		$	18,790		$	66,151		$	53,617
	11,702			13,372			6,408			5,634			37,732			23,383			156,359			146,460

$	31,458		$	25,127		$	7,278		$	7,341		$	63,563		$	42,173		$	222,510		$	200,077


$	72		$	734		$	2		$	—		$	388		$	467		$	1,727		$	3,132
	0.23	%		2.92	%		0.03	%		—	%		0.61	%		1.11	%		0.78	%		1.57	%


$	31,289		$	24,324		$	7,222		$	7,321		$	61,837		$	40,785		$	215,148		$	191,492
	31			68			34			15			704			512			1,493			1,694
	2			6			—			—			241			184			359			332
	136			729			22			5			781			692			5,510			6,559

$	31,458		$	25,127		$	7,278		$	7,341		$	63,563		$	42,173		$	222,510		$	200,077


	Home equity
As of or for the year ended	Senior lien						Junior lien
December 31, (in millions, except ratios)	2010			2009			2010			2009

Net charge-offs	$	262		$	234		$	3,182		$	4,448
% of net charge-offs to retained loans		1.00	%		0.80	%		4.63	%		5.62	%

Loan delinquency
Current and less than 30 days past due	$	23,615		$	26,543		$	62,315		$	71,534
30–149 days past due		414			512			1,508			2,224
150 or more days past due		347			321			186			291

Total retained loans	$	24,376		$	27,376		$	64,009		$	74,049


% of 30+ days past due to total retained loans		3.12	%		3.04	%		2.65	%		3.40	%
90 or more days past due and still accruing	$	—		$	—		$	—		$	—
Nonaccrual loans^(a)		479			477			784			1,188

Current estimated LTV ratios^(b)(c)(d)
Greater than 125% and refreshed FICO scores:
Equal to or greater than 660	$	528		$	472		$	6,928		$	6,788
Less than 660		238			235			2,495			2,703

101% to 125% and refreshed FICO scores:
Equal to or greater than 660		974			933			9,403			10,616
Less than 660		325			319			2,873			3,277

80% to 100% and refreshed FICO scores:
Equal to or greater than 660		2,860			3,038			13,333			16,098
Less than 660		738			825			3,155			3,657

Less than 80% and refreshed FICO scores:
Equal to or greater than 660		15,994			18,591			22,527			27,225
Less than 660		2,719			2,963			3,295			3,685

U.S. government-guaranteed		—			—			—			—

Total retained loans	$	24,376		$	27,376		$	64,009		$	74,049

Geographic region
California	$	3,348		$	3,658		$	14,656		$	16,990
New York		3,272			3,438			12,278			13,456
Texas		3,594			4,306			2,239			2,711
Florida		1,088			1,198			3,470			4,123
Illinois		1,635			1,795			4,248			4,849
Ohio		2,010			2,338			1,568			1,865
New Jersey		732			777			3,617			4,090
Michigan		1,176			1,329			1,618			1,900
Arizona		1,481			1,648			2,979			3,582
Washington		776			868			2,142			2,481
All other^(e)		5,264			6,021			15,194			18,002

Total retained loans	$	24,376		$	27,376		$	64,009		$	74,049


(a)		At December 31, 2010 and 2009, nonaccrual loans excluded mortgage loans insured by U.S. government agencies of $10.5 billion and $9.0 billion, respectively, that are 90 days past due and accruing at the guaranteed reimbursement rate. These amounts are excluded as reimbursement of insured amounts is proceeding normally.

(b)		Represents the aggregate unpaid principal balance of loans divided by the estimated current property value. Current property values are estimated, at a minimum, quarterly, based on home valuation models utilizing nationally recognized home price index valuation estimates and do not represent actual appraised loan level collateral values; as such, the resulting ratios are necessarily imprecise and should be viewed as estimates.

(c)		Junior lien represents combined LTV, which considers all available lien positions related to the property. All other products are presented without consideration of subordinate liens on the property.

(d)		Refreshed FICO scores represent each borrower’s most recent credit score obtained by the Firm; current FICO scores are obtained at least quarterly.

(e)		At December 31, 2010 and 2009, includes prime mortgage loans insured by U.S. government agencies of $12.9 billion and $10.8 billion, respectively.

(f)		At December 31, 2010 and 2009, includes 30+ day delinquent mortgage loans that are insured by U.S. government agencies of $11.4 billion and $9.7 billion, respectively. These amounts are considered current as reimbursement of insured amounts is proceeding normally.

(table continued from previous page)


Mortgages												Total residential real
Prime, including option ARMs						Subprime						estate (excluding PCI)
2010			2009			2010			2009			2010			2009

$	1,627		$	1,957		$	1,374		$	1,648		$	6,445		$	8,287
	2.15	%		2.51	%		10.82	%		11.86	%		3.52	%		4.14	%


$	69,562	^(f)	$	69,458	^(f)	$	8,477		$	8,294		$	163,969		$	175,829
	1,576			2,629			1,184			1,883			4,682			7,248
	3,401			3,341			1,626			2,349			5,560			6,302

$	74,539		$	75,428		$	11,287		$	12,526		$	174,211		$	189,379


	6.68	%		7.91	%		24.90	%		33.79	%		5.88	%		7.15	%
$	—		$	—		$	—		$	—		$	—		$	—
	4,320			4,667			2,210			3,248			7,793			9,580



$	3,039		$	2,435		$	338		$	335		$	10,833		$	10,030
	1,595			1,339			1,153			1,169			5,481			5,446


	4,733			4,763			506			593			15,616			16,905
	1,775			1,913			1,486			1,902			6,459			7,411


	10,720			12,889			925			1,094			27,838			33,119
	2,786			3,152			1,955			2,663			8,634			10,297


	32,385			33,368			2,252			2,063			73,158			81,247
	4,557			4,803			2,672			2,707			13,243			14,158

	12,949			10,766			—			—			12,949			10,766

$	74,539		$	75,428		$	11,287		$	12,526		$	174,211		$	189,379


$	19,278		$	21,538		$	1,730		$	1,720		$	39,012		$	43,906
	9,587			9,784			1,381			1,535			26,518			28,213
	2,569			2,185			345			407			8,747			9,609
	4,840			5,293			1,422			1,625			10,820			12,239
	3,765			3,250			468			584			10,116			10,478
	462			461			275			299			4,315			4,963
	2,026			2,207			534			617			6,909			7,691
	963			1,009			294			324			4,051			4,562
	1,320			1,414			244			301			6,024			6,945
	2,056			2,174			247			274			5,221			5,797
	27,673			26,113			4,347			4,840			52,478			54,976

$	74,539		$	75,428		$	11,287		$	12,526		$	174,211		$	189,379


As of or for the year ended
December 31,	Auto^(c)						Business banking						Student and other^(c)						Total other consumer
(in millions, except ratios)	2010			2009			2010			2009			2010			2009			2010			2009

Net charge-offs	$	298		$	627		$	707		$	842		$	459		$	443		$	1,464		$	1,912
% of net charge-offs to retained loans		0.63	%		1.44	%		4.23	%		4.73	%		2.85	%		2.90	%		1.82	%		2.49	%

Loan delinquency
Current and less than 30 days past due	$	47,778		$	45,281		$	16,240		$	16,277		$	15,074	^(d)	$	14,479	^(d)	$	79,092		$	76,037
30–119 days past due		579			720			351			427			232			240			1,162			1,387
120 or more days past due		10			30			221			270			5			7			236			307

Total retained loans	$	48,367		$	46,031		$	16,812		$	16,974		$	15,311		$	14,726		$	80,490		$	77,731


% of 30+ days past due to total retained loans		1.22	%		1.63	%		3.40	%		4.11	%		1.55	%		1.68	%		1.74	%		2.18	%

90 or more days past due and still accruing	$	—		$	—		$	—		$	—		$	625		$	542		$	625		$	542

Nonaccrual loans^(a)		141			177			832			826			67			74			1,040			1,077

Geographic region
California	$	4,307		$	4,440		$	851		$	515		$	1,330		$	1,304		$	6,488		$	6,259
New York		3,875			3,756			2,877			3,040			1,305			1,243			8,057			8,039
Texas		4,505			4,330			2,550			2,487			1,273			1,197			8,328			8,014
Florida		1,923			1,750			220			166			722			715			2,865			2,631
Illinois		2,608			2,440			1,320			1,380			940			868			4,868			4,688
Ohio		2,961			3,153			1,647			1,783			1,010			957			5,618			5,893
New Jersey		1,842			1,776			422			426			502			475			2,766			2,677
Michigan		2,434			2,108			1,401			1,613			729			686			4,564			4,407
Arizona		1,499			1,479			1,218			1,210			387			366			3,104			3,055
Washington		716			627			115			84			279			266			1,110			977
All other		21,697			20,172			4,191			4,270			6,834			6,649			32,722			31,091

Total retained loans	$	48,367		$	46,031		$	16,812		$	16,974		$	15,311		$	14,726		$	80,490		$	77,731


Loans by risk ratings^(b)
Noncriticized		5,803			4,564			10,831			10,450		NA			NA				16,634			15,014
Criticized performing		265			448			502			517		NA			NA				767			965
Criticized nonaccrual		12			39			574			542		NA			NA				586			581


(a)		At December 31, 2010 and 2009, excludes student loans that are 90 days past due and still accruing, which are insured by U.S. government agencies under the FFELP, of $625 million and $542 million, respectively. These amounts are excluded as reimbursement of insured amounts is proceeding normally.

(b)		For risk-rated business banking and auto loans, the primary credit quality indicator is the risk-rating of the loan, including whether the loans are considered to be criticized and/or nonaccrual.

(c)		Effective January 1, 2010, the Firm adopted accounting guidance related to VIEs. Upon the adoption of the guidance, the Firm consolidated certain consumer loan securitization entities. For further information, see Note 16 on pages 244–259 of this Annual Report.

(d)		Includes 30+ day delinquent loans that are 30 days or more past due and still accruing, which are insured by U.S. government agencies under the FFELP, of $1.1 billion and $942 million at December 31, 2010 and 2009, respectively. These amounts are considered current as reimbursement of insured amounts is proceeding normally.


December 31,	Home equity						Prime mortgage
(in millions, except ratios)	2010			2009			2010			2009

Carrying value^(a)	$	24,459		$	26,520		$	17,322		$	19,693
Related allowance for loan losses^(b)		1,583			—			1,766			1,090

Loan delinquency (based on unpaid principal balance)
Current and less than 30 days past due	$	25,783		$	29,697		$	13,035		$	15,404
30–149 days past due		1,348			2,117			1,468			2,026
150 or more days past due		1,181			1,144			4,425			4,542

Total loans	$	28,312		$	32,958		$	18,928		$	21,972


% of 30+ days past due to total loans		8.93	%		9.89	%		31.13	%		29.89	%

Current estimated LTV ratios (based on unpaid principal balance)^(c)(d)
Greater than 125% and refreshed FICO scores:
Equal to or greater than 660	$	6,324		$	6,139		$	2,400		$	1,935
Less than 660		4,052			4,401			2,744			2,244

101% to 125% and refreshed FICO scores:
Equal to or greater than 660		6,097			6,875			3,815			4,566
Less than 660		2,701			3,141			3,011			3,213

80% to 100% and refreshed FICO scores:
Equal to or greater than 660		4,019			5,713			1,970			3,364
Less than 660		1,483			1,930			1,857			2,594

Lower than 80% and refreshed FICO scores:
Equal to or greater than 660		2,539			3,330			1,443			1,832
Less than 660		1,097			1,429			1,688			2,224

Total unpaid principal balance	$	28,312		$	32,958		$	18,928		$	21,972


Geographic region (based on unpaid principal balance)
California	$	17,012		$	19,749		$	10,891		$	12,657
New York		1,316			1,495			1,111			1,239
Texas		525			616			194			231
Florida		2,595			3,045			1,519			1,801
Illinois		627			723			562			650
Ohio		38			47			91			106
New Jersey		540			625			486			540
Michigan		95			113			279			307
Arizona		539			653			359			438
Washington		1,535			1,766			451			533
All other		3,490			4,126			2,985			3,470

Total unpaid principal balance	$	28,312		$	32,958		$	18,928		$	21,972


(a)		Carrying value includes the effect of fair value adjustments that were applied to the consumer PCI portfolio at the date of acquisition.

(b)		Management concluded as part of the Firm’s regular assessment of the PCI loan pools that it was probable that higher expected principal credit losses would result in a decrease in expected cash flows. As a result, an allowance for loan losses for impairment of these pools has been recognized.

(c)		Represents the aggregate unpaid principal balance of loans divided by the estimated current property value. Current property values are estimated, at a minimum quarterly, based on home valuation models utilizing nationally recognized home price index valuation estimates and do not represent actual appraised loan level collateral values; as such the resulting ratios are necessarily imprecise and should be viewed as estimates. Current estimated combined LTV for junior lien home equity loans considers all available lien positions related to the property.

(d)		Refreshed FICO scores represent each borrower’s most recent credit score obtained by the Firm; current FICO scores are obtained at least quarterly.

(table continued from previous page)


Subprime mortgage							Option ARMs						Total PCI
	2010			2009			2010			2009			2010			2009

	$	5,398		$	5,993		$	25,584		$	29,039		$	72,763		$	81,245
		98			—			1,494			491			4,941			1,581


	$	4,312		$	4,531		$	18,672		$	23,709		$	61,802		$	73,341
		1,020			1,383			2,215			4,010			6,051			9,536
		2,710			3,107			9,904			9,660			18,220			18,453

	$	8,042		$	9,021		$	30,791		$	37,379		$	86,073		$	101,330


		46.38	%		49.77	%		39.36	%		36.57	%		28.20	%		27.62	%



	$	432		$	409		$	2,681		$	4,081		$	11,837		$	12,564
		2,129			2,084			6,330			6,761			15,255			15,490


		424			481			4,292			5,518			14,628			17,440
		1,663			1,877			5,005			6,291			12,380			14,522


		374			497			4,152			4,925			10,515			14,499
		1,477			1,917			3,551			4,213			8,368			10,654


		186			179			2,281			2,549			6,449			7,890
		1,357			1,577			2,499			3,041			6,641			8,271

	$	8,042		$	9,021		$	30,791		$	37,379		$	86,073		$	101,330


	$	1,971		$	2,244		$	16,130		$	19,637		$	46,004		$	54,287
		736			774			1,703			1,848			4,866			5,356
		435			476			155			191			1,309			1,514
		906			1,049			3,916			5,106			8,936			11,001
		438			480			760			896			2,387			2,749
		122			135			131			156			382			444
		316			350			1,064			1,166			2,406			2,681
		214			245			345			448			933			1,113
		165			194			528			708			1,591			1,993
		178			200			745			877			2,909			3,376
		2,561			2,874			5,314			6,346			14,350			16,816

	$	8,042		$	9,021		$	30,791		$	37,379		$	86,073		$	101,330


As of or for the year ended December 31,	Chase, excluding						Washington Mutual
(in millions, except ratios)	Washington Mutual portfolio^(e)						portfolio^(e)						Total credit card
	2010			2009			2010			2009		^(f)	2010			2009		^(f)

Net charge-offs	$	11,191		$	6,466		$	2,846		$	3,168		$	14,037		$	9,634
% of net charge-offs to retained loans		8.73	%		9.76	%		17.73	%		15.26	%		9.73	%		11.07	%

Loan delinquency^(a)(b)
Current and less than 30 days past due and still accruing	$	117,248		$	55,374		$	12,670		$	17,316		$	129,918		$	72,690
30 – 89 days past due and still accruing		2,092			1,638			459			974			2,551			2,612
90 or more days past due and still accruing		2,449			2,118			604			1,363			3,053			3,481
Nonaccrual loans		2			3			—			—			2			3

Total retained loans	$	121,791		$	59,133		$	13,733		$	19,653			135,524		$	78,786

Loan delinquency ratios
% of 30 plus days past due to total retained loans		3.73	%		6.35	%		7.74	%		11.89	%		4.14	%		7.73	%
% of 90 plus days past due to total retained loans		2.01			3.58			4.40			6.94			2.25			4.42

Credit card loans by geographic region
California	$	15,454		$	7,115		$	2,650		$	3,873		$	18,104		$	10,988
New York		9,540			4,527			1,032			1,458			10,572			5,985
Texas		9,217			4,154			1,006			1,421			10,223			5,575
Florida		6,724			3,439			1,165			1,735			7,889			5,174
Illinois		7,077			3,166			542			771			7,619			3,937
Ohio		5,035			2,506			401			562			5,436			3,068
New Jersey		5,070			2,337			494			707			5,564			3,044
Michigan		3,956			1,977			273			397			4,229			2,374
Virginia		3,020			1,386			295			417			3,315			1,803
Pennsylvania		4,521			2,243			424			598			4,945			2,841
Washington		2,053			911			438			596			2,491			1,507
Georgia		2,834			1,477			398			562			3,232			2,039
All other		47,290			23,895			4,615			6,556			51,905			30,451

Total retained loans^(c)	$	121,791		$	59,133		$	13,733		$	19,653		$	135,524		$	78,786


Percentage of portfolio based on carrying value with estimated refreshed FICO scores^(d)
Equal to or greater than 660		80.6	%		72.6	%		56.4	%		49.2	%		77.9	%		66.7	%
Less than 660		19.4			27.4			43.6			50.8			22.1			33.3


(a)		Results reflect the impact of purchase accounting adjustments related to the Washington Mutual transaction and the consolidation of the WMMT in the second quarter of 2009.

(b)		The Firm’s policy is generally to exempt credit card loans from being placed on nonaccrual status as permitted by regulatory guidance. Under guidance issued by the FFIEC, credit card loans are charged off by the end of the month in which the account becomes 180 days past due or within 60 days from receiving notification about a specified event (e.g., bankruptcy of the borrower), whichever is earlier.

(c)		Effective January 1, 2010, the Firm adopted accounting guidance related to VIEs. Upon adoption of the guidance, the Firm consolidated its Firm-sponsored credit card securitization trusts. For further information, see Note 16 on pages 244–259 of this Annual Report.

(d)		Refreshed FICO scores are estimated based on a statistically significant random sample of credit card accounts in the credit card portfolio for the period shown. The Firm obtains refreshed FICO scores on a quarterly basis.

(e)		Includes billed finance charges and fees net of an allowance for uncollectible amounts.

(f)		Includes $1.0 billion of loans at December 31, 2009, held by the WMMT, which were consolidated onto the Firm’s Consolidated Balance Sheets at fair value during the second quarter of 2009. Such loans had been fully repaid or charged off as of December 31, 2010. For further discussion, see Note 16 on pages 244–259 of this Annual Report.

Loans modified in troubled debt restructuring


For the year ended
December 31,	Impaired loans (average)
(in millions)	2010		2009		2008

Commercial and industrial	$	1,655	$	1,767	$	337
Real estate		3,101		2,420		389
Financial institutions		304		685		49
Government agencies		5		4		1
Other		884		468		120

Total^(a)	$	5,949	$	5,344	$	896


(a)		The related interest income on accruing impaired loans, largely in real estate, was $21 million, $15 million and zero for the years ended December 31, 2010, 2009 and 2008. The interest income recognized on a cash basis was not material for the years 2010, 2009 and 2008.


	Commercial and								Financial				Government								Total
December 31,	industrial				Real estate				institutions				agencies				Other				retained loans
(in millions)	2010		2009		2010		2009		2010		2009		2010		2009		2010		2009		2010		2009

Loans modified in troubled debt restructurings^(a)	$	212	$	253	$	907	$	856	$	1	$	—	$	22	$	—	$	1	$	—	$	1,143	$	1,109
TDRs on nonaccrual status		163		222		831		269		1		—		22		—		1		—		1,018		491
Additional commitments to lend to borrowers whose loans have been modified in TDRs		1		33		—		6		—		—		—		—		—		—		1		39


(a)		These modifications generally provided interest rate concessions to the borrower or deferral of principal repayments.

Credit Card [Member]


	Chase, excluding
	Washington Mutual				Washington Mutual
	portfolio				portfolio				Total credit card
December 31, (in millions)	2010		2009		2010		2009		2010		2009

Impaired loans with an allowance^(a)(b)
Credit card loans with modified payment terms^(c)	$	6,685	$	3,513	$	1,570	$	1,617	$	8,255	$	5,130
Modified credit card loans that have reverted to pre-modification payment terms^(d)		1,439		812		311		303		1,750		1,115

Total impaired loans^(e)	$	8,124	$	4,325	$	1,881	$	1,920	$	10,005	$	6,245

Allowance for loan losses related to impaired loans		3,175		2,038		894		1,079		4,069		3,117


(a)		The carrying value and the unpaid principal balance are the same for credit card impaired loans.

(b)		There are no impaired loans without an allowance.

(c)		Represents credit card loans outstanding to borrowers then enrolled in a credit card modification program.


(d)		Represents credit card loans that were modified in troubled debt restructurings but that have subsequently reverted back to the loans’ pre-modification payment terms. Of the $1.8 billion total loan amount at December 31, 2010, approximately $1.2 billion of loans have reverted back to the pre-modification payment terms of the loans due to noncompliance with the terms of the modified loans. A substantial portion of these loans is expected to be charged-off in accordance with the Firm’s standard charge-off policy. The remaining $590 million of loans are to borrowers who have successfully completed a short-term modification program. The Firm continues to report these loans as troubled debt restructurings since the borrowers’ credit lines remain closed. Prior-period amounts have been revised to conform to the current presentation.

(e)		The increase in troubled debt restructurings from December 31, 2009 to December 31, 2010, is primarily attributable to previously-modified loans held in Firm-sponsored credit card securitization trusts being consolidated as a result of adopting the new accounting guidance related to VIEs.


For the year ended
December 31,	Impaired loans (average)						Interest income on impaired loans^(a)
(in millions)	2010		2009		2008		2010		2009		2008

Chase, excluding Washington Mutual portfolio	$	8,747	$	3,059	$	2,386	$	479	$	181	$	167
Washington Mutual portfolio		1,983		991		—		126		70		—

Total credit card	$	10,730	$	4,050	$	2,386	$	605	$	251	$	167

Consumer Excluding Credit Card [Member]

Consumer loans by class, excluding credit card loan portfolio segment


December 31, (in millions)	2010		2009

Residential real estate – excluding PCI
Home equity:
Senior lien^(a)	$	24,376	$	27,376
Junior lien^(b)		64,009		74,049
Mortgages:
Prime, including option ARMs^(c)		74,539		75,428
Subprime^(c)		11,287		12,526
Other consumer loans
Auto^(c)		48,367		46,031
Business banking		16,812		16,974
Student and other^(c)		15,311		14,726
Residential real estate – PCI
Home equity		24,459		26,520
Prime mortgage		17,322		19,693
Subprime mortgage		5,398		5,993
Option ARMs		25,584		29,039

Total retained loans	$	327,464	$	348,355


(a)		Represents loans where JPMorgan Chase holds the first security interest on the property.

(b)		Represents loans where JPMorgan Chase holds a security interest that is subordinate in rank to other liens.

(c)		Effective January 1, 2010, the Firm adopted accounting guidance related to VIEs. Upon adoption of the guidance, the Firm consolidated $4.8 billion of certain consumer loan securitization entities, primarily mortgage-related. For further information, see Note 16 on pages 244–259 of this Annual Report.

Residential real estate, excluding PCI [Member]


	Home equity								Mortgages								Total residential real
December 31,	Senior lien				Junior lien				Prime, including option ARMs				Subprime				estate (excluding PCI)
(in millions)	2010		2009		2010		2009		2010		2009		2010		2009		2010		2009

Impaired loans^(a)(b)
With an allowance	$	211	$	167	$	258	$	221	$	1,525	$	552	$	2,563	$	1,952	$	4,557	$	2,892
Without an allowance^(c)		15		1		25		1		559		90		188		46		787		138

Total impaired loans^(d)	$	226	$	168	$	283	$	222	$	2,084	$	642	$	2,751	$	1,998	$	5,344	$	3,030


Allowance for loan losses related to impaired loans		77		73		82		100		97		70		555		494		811		737

Unpaid principal balance of impaired loans^(e)		265		178		402		273		2,751		783		3,777		2,303		7,195		3,537
Impaired loans on nonaccrual status		38		30		63		43		534		249		632		598		1,267		920


(a)		Represents loans modified in a TDR. These modifications generally provided interest rate concessions to the borrower or deferral of principal repayments.

(b)		There are no additional commitments to lend to borrowers whose loans have been modified in TDRs as of December 31, 2010 and 2009.

(c)		When discounted cash flows or collateral value equals or exceeds the recorded investment in the loan, then the loan does not require an allowance. This typically occurs when the impaired loans have been partially charged-off and/or there have been interest payments received and applied to the loan balance.

(d)		At December 31, 2010 and 2009, $3.0 billion and $296 million, respectively, of loans modified subsequent to repurchase from Ginnie Mae were excluded from loans accounted for as TDRs. When such loans perform subsequent to modification they are generally sold back into Ginnie Mae loan pools. Modified loans that do not re-perform become subject to foreclosure. Substantially all amounts due under the terms of these loans continue to be insured and, where applicable, reimbursement of insured amounts is proceeding normally.

(e)		Represents the contractual amount of principal owed at December 31, 2010 and 2009. The unpaid principal balance differs from the impaired loan balances due to various factors, including charge-offs; interest payments received and applied to the principal balance; net deferred loan fees or costs; and discounts or premiums on purchased loans.


													Interest income on impaired
For the year ended December 31,	Impaired loans (average)						Interest income on impaired loans^(a)						loans on a cash basis^(a)
(in millions)	2010		2009		2008		2010		2009		2008		2010		2009		2008

Home equity
Senior lien	$	207	$	142	$	39	$	15	$	7	$	2	$	1	$	1	$	—
Junior lien		266		187		39		10		9		3		1		1		—
Mortgages
Prime, including option ARMs		1,530		496		41		70		34		2		14		8		—
Subprime		2,539		1,948		690		121		98		47		19		6		2

Total residential real estate (excluding PCI)	$	4,542	$	2,773	$	809	$	216	$	148	$	54	$	35	$	16	$	2


(a)		Generally, interest income on loans modified in a TDR is recognized on a cash basis until such time as the borrower has made a minimum of six payments under the new terms. As of December 31, 2010 and 2009, loans of $580 million and $256 million, respectively, are TDRs for which the borrowers have not yet made six payments under their modified terms.

Other consumer [Member]


	Auto				Business banking				Total other consumer^(c)
December 31, (in millions)	2010		2009		2010		2009		2010		2009

Impaired loans
With an allowance	$	102	$	118	$	774	$	500	$	876	$	618
Without an allowance^(a)		—		—		—		—		—		—

Total impaired loans	$	102	$	118	$	774	$	500	$	876		618


Allowance for loan losses related to impaired loans		16		30		248		129		264		159

Unpaid principal balance of impaired loans^(b)		132		137		899		577		1,031		714


(a)		When discounted cash flows, collateral value or market price equals or exceeds the recorded investment in the loan, then the loan does not require an allowance. This typically occurs when the impaired loans have been partially charged-off and/or there have been interest payments received and applied to the loan balance.

(b)		Represents the contractual amount of principal owed at December 31, 2010 and 2009. The unpaid principal balance differs from the impaired loan balances due to various factors, including charge-offs; interest payments received and applied to the principal balance; net deferred loan fees or costs; and discounts or premiums on purchased loans.

(c)		There were no student and other loans modified in TDRs at December 31, 2010 and 2009.

Loans modified in troubled debt restructuring


For the year ended December 31,	Impaired loans (average)^(b)
(in millions)	2010		2009		2008

Auto	$	120	$	100	$	71
Business banking		682		396		200

Total other consumer^(a)	$	802	$	496	$	271


(a)		There were no student and other loans modified in TDRs at December 31, 2010, 2009 and 2008.

(b)		The related interest income on impaired loans, including those on cash basis, were not material for the years 2010, 2009 and 2008.


	Auto				Business banking				Total other consumer^(c)
December 31, (in millions)	2010		2009		2010		2009		2010		2009

Loans modified in troubled debt restructurings^(a)(b)	$	91	$	79	$	395	$	17	$	486	$	96
TDRs on nonaccrual status		39		30		268		16		307		46


(a)		These modifications generally provided interest rate concessions to the borrower or deferral of principal repayments.

(b)		Additional commitments to lend to borrowers whose loans have been modified in TDRs as of December 31, 2010 and 2009 are immaterial.

(c)		There were no student and other loans modified in TDRs at December 31, 2010 and 2009.

Purchased Credit Impaired [Member]