5 things Jamie Dimon said in his annual JPMorgan shareholders letter

5 things jamie dimon said in his annual jpmorgan shareholders letter

Sumary of 5 things Jamie Dimon said in his annual JPMorgan shareholders letter:

  • Having now successfully steered JPMorgan Chase — America’s largest bank by assets — through two recessions, Dimon is viewed as a leader in the banking and finance communities..
  • He also said that a multiyear booming economy could justify current high equity valuations, with investors potentially pricing in big economic growth and excess liquidity finding its way into the market..
  • While it might sound like a lot, shadow banking has grown more, with total private direct credit jumping from $7.6 trillion in 2000 to $18.4 trillion in 2020..
  • The size of payments companies has grown to $1.2 trillion, and the size of private and public fintech companies is now $0.8 trillion..
  • While Dimon acknowledges that the new Dodd-Frank regulatory framework put into place following the Great Recession succeeded in keeping banks healthy through the brunt of the coronavirus pandemic, he still sees major issues with it..
  • One issue he sees is with a Dodd-Frank rule called the liquidity coverage ratio (LCR), which made more stringent rules around liquidity and, according to Dimon, effectively prevents larger banks from lending out all of their deposits….

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