Allowance for Credit Losses (Tables)

9 Months Ended

Sep. 30, 2025

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 JPMorganChase’s 2024 Form 10-K and Note 9 of this Form 10-Q for further information on the allowance for credit losses on investment securities.


	2025								2024
Nine months ended September 30, (in millions)	Consumer, excluding credit card		Credit card		Wholesale		Total			Consumer, excluding credit card		Credit card		Wholesale		Total
Allowance for loan losses
Beginning balance at January 1,	$	1,807	$	14,600	$	7,938	$	24,345		$	1,856	$	12,450	$	8,114	$	22,420

Gross charge-offs	814		6,865		1,262		8,941			971		6,044		659		7,674
Gross recoveries collected	(410)		(1,088)		(108)		(1,606)			(490)		(762)		(148)		(1,400)
Net charge-offs/(recoveries)	404		5,777		1,154		7,335			481		5,282		511		6,274
Provision for loan losses	500		6,731		1,489		8,720			360		6,932		506		7,798
Other	—		—		5		5			—		—		5		5
Ending balance at September 30,	$	1,903	$	15,554	$	8,278	$	25,735		$	1,735	$	14,100	$	8,114	$	23,949
Allowance for lending-related commitments
Beginning balance at January 1,	$	82	$	—	$	2,019	$	2,101		$	75	$	—	$	1,899	$	1,974
Provision for lending-related commitments	2		—		860		862			6		—		162		168
Other	—		—		1		1			—		—		—		—
Ending balance at September 30,	$	84	$	—	$	2,880	$	2,964		$	81	$	—	$	2,061	$	2,142
Total allowance for investment securities	NA		NA		NA		105			NA		NA		NA		175
Total allowance for credit losses(a)	$	1,987	$	15,554	$	11,158	$	28,804		$	1,816	$	14,100	$	10,175	$	26,266
Allowance for loan losses by impairment methodology
Asset-specific(b)	$	(621)	$	—	$	838	$	217		$	(756)	$	—	$	499	$	(257)
Portfolio-based	2,524		15,554		7,440		25,518			2,491		14,100		7,615		24,206
Total allowance for loan losses	$	1,903	$	15,554	$	8,278	$	25,735		$	1,735	$	14,100	$	8,114	$	23,949

Loans by impairment methodology
Asset-specific(b)	$	3,366	$	—	$	4,895	$	8,261		$	2,784	$	—	$	3,510	$	6,294
Portfolio-based	366,493		235,475		759,556		1,361,524			375,154		219,542		684,380		1,279,076
Total retained loans	$	369,859	$	235,475	$	764,451	$	1,369,785		$	377,938	$	219,542	$	687,890	$	1,285,370
Collateral-dependent loans
Net charge-offs	$	—	$	—	$	474	$	474		$	1	$	—	$	150	$	151
Loans measured at fair value of collateral less cost to sell	3,316		—		1,919		5,235			2,805		—		1,524		4,329
Allowance for lending-related commitments by impairment methodology
Asset-specific	$	—	$	—	$	131	$	131		$	—	$	—	$	93	$	93
Portfolio-based	84		—		2,749		2,833			81		—		1,968		2,049
Total allowance for lending-related commitments(c)	$	84	$	—	$	2,880	$	2,964		$	81	$	—	$	2,061	$	2,142
Lending-related commitments by impairment methodology
Asset-specific	$	—	$	—	$	1,025	$	1,025		$	—	$	—	$	619	$	619
Portfolio-based(d)	25,588		601		544,764		570,953			26,764		—		514,313		541,077
Total lending-related commitments	$	25,588	$	601	$	545,789	$	571,978		$	26,764	$	—	$	514,932	$	541,696

(a)At September 30, 2025 and 2024, in addition to the allowance for credit losses in the table above, the Firm also had an allowance for credit losses of $285 million and $277 million, respectively, associated with certain accounts receivable in CIB.

(b)Includes collateral-dependent loans, including those for which foreclosure is deemed probable, and nonaccrual risk-rated loans.

(c)The allowance for lending-related commitments is reported in accounts payable and other liabilities on the Consolidated balance sheets.

(d)At September 30, 2025 and 2024, lending-related commitments excluded $22.4 billion and $18.6 billion, respectively, for the consumer, excluding credit card portfolio segment; $1.1 trillion and $989.6 billion, respectively, for the credit card portfolio segment; and $50.2 billion and $26.6 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 September 30, 2025
	4Q25		2Q26		4Q26
U.S. unemployment rate(a)	4.5	%	4.7	%	4.5	%
YoY growth in U.S. real GDP(b)	1.0	%	1.5	%	1.9	%

	Central case assumptions at December 31, 2024
	2Q25		4Q25		2Q26
U.S. unemployment rate(a)	4.5	%	4.3	%	4.3	%
YoY growth in U.S. real GDP(b)	2.0	%	1.9	%	1.8	%

(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.