$40,000,000,000 in Unrealized Losses Hits JPMorgan Chase As Bank of America, Wells Fargo and Citigroup Face Exposure to US Treasuries: Report

JPMorgan Chase has quietly revealed tens of billions of dollars in losses on securities, according to a new report on the company’s overall balance sheet. The banking giant is now stuck with roughly $40 billion in unrealized bond losses as of Q3 of this year, which is a 20% rise over the previous quarter, reports Barron’s. The new numbers were located in a footnote on the firm’s third-quarter financial supplement and were higher than an expected $34 billion loss. The news follows a new quarterly report from Bank of America revealing it now has a total of $131.6 billion in unrealized losses. To continue reading the rest of the article, please click on the source link below: https://dailyhodl.com/2023/11/03/40000000000-in-unrealized-losses-hits-jpmorgan-chase-as-bank-of-america-wells-fargo-and-citigroup-face-exposure-to-us-treasuries-report/