It seems that the latest JPMorgan’s reports are pretty mind-blowing, considering the fact that most of their deposits are not insured. Check out more details about all this below.

Here is the tweet that sheds light on the matter here:

“The call report collects basic financial data of commercial banks in the form of a balance sheet, an income statement, and supporting schedules. The Report of Condition schedules provide details on assets liabilities, and capital accounts. The Report of Income schedules provide details on income and expenses”, according to the Federal Reserve Bank of Chicago.

More interesting details are out

Per FDIC’s September 2013 Final Rule on the Definition of Deposits at Foreign Branches of U.S. Banks Press Release, a final rule was approved clarifying that “deposits in foreign branches of U.S. banks are not FDIC-insured.”

“Okay. So, why does all of this matter??” the post asks.

“Simply put, uninsured deposits are a risk to banks, as they can lead to a depositor run on a bank. According to FDIC, “Uninsured depositor runs triggered the failures of Silicon Valley Bank and Signature Bank in March 2023”.

We strongly suggest that you check out the complete tweet because it contains extremely valuable info.

JPMorgan Chase CEO releases warning for the economy

Not too long ago, we were revealing the fact that the CEO of the world’s largest bank, Jamie Dimon, warned that the US economy is at risk of facing a series of challenges that may lead to a global economic downturn.

As per the Telegraph, Jamie Dimon, the CEO of JPMorgan Chase, has expressed his concern about the US economy’s heavy reliance on debt.

He compared the central bank’s spending to heroin for American households, implying that it is addictive and harmful.

Dimon further explained that the economy is a dangerous combination of risks, and there is a possibility of an “explosive” economic event happening soon.

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