JPMorgan's capital idea

Jamie Fonzie Dimon

JPMorgan Chase was singled out last year for being the only major U.S. bank that didn’t have enough capital set aside to overcome the perception it’s too big to fail. But that was then.

Bloomberg News reports that as the Federal Reserve prepares to finalize the capital requirements for eight heavyweight lenders on Monday, JPMorgan says it’s much closer to nearing the gap on what the Fed identified as a $20 billion shortfall.

And CEO Jamie Dimon said last week that the effort to improve the capital ratio won’t stop.

In the meantime, Bloomberg also reports that JPMorgan Chase has agreed to pay $388 million to settle a suit by investors who claimed the bank misled them about the safety of $10 billion worth of residential mortgage-backed securities, a lawyer said.

The suit, brought by the Fort Worth Employees’ Retirement Fund and other investors in nine offerings made before the financial crisis, claimed JPMorgan misled them about the underwriting, appraisals and credit quality of home loans underlying the securities.

JPMorgan No Longer $20 Billion in Hole for Fed Capital Demand

JPMorgan Reaches $388 Million Accord in MBS Investor Suit


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