January 12, 2018 / 12:16 PM / 4 months ago

BRIEF-JPMorgan Sees New Revenue Recognition Accounting Rule To Increase FY2018 Revenue, Expense By About $1.2 Bln

Jan 12 (Reuters) - JPMorgan Chase & Co:

* JPMORGAN CHASE & CO - EXPECT FIRMWIDE Q1 2018 NET INTEREST INCOME TO BE MODESTLY LOWER QOQ DUE TO THE IMPACT OF TCJA AND DAY COUNT‍​

* JPMORGAN CHASE & CO - EXPECT FIRMWIDE FY2018 EFFECTIVE TAX RATE TO BE ABOUT 19 PERCENT

* JPMORGAN - SEES REDUCTION IN TAX-EQUIVALENT ADJUSTMENTS, DECREASING BOTH MANAGED REVENUE & MANAGED TAX EXPENSE BY ABOUT $1.2 BILLION ON ANNUAL RUN-RATE BASIS

* JPMORGAN CHASE & CO SEES NEW REVENUE RECOGNITION ACCOUNTING RULE TO INCREASE FY2018 REVENUE, EXPENSE BY ABOUT $1.2B, VAST MAJORITY OF IMPACT IN AWM ‍​

* JPMORGAN CHASE & CO SAYS LOWER TAX RATE DOES NOT CHANGE CO’S CAPITAL HIERARCHY AND STRATEGY; 1H18 DISTRIBUTIONS BASED ON 2017 CCAR

* JPMORGAN - NEW TAX RATE WILL BE NET POSITIVE FOR IB FEES, SUPPORTIVE TO CORPORATE LOAN DEMAND OVER TIME, WILL BE SMALL NEGATIVE TO HOME LENDING

* JPMORGAN SAYS UNCERTAIN WHETHER CO WILL BE SUBJECT TO BASE EROSION ANTI-ABUSE TAX; DO NOT EXPECT ANY MATERIAL IMPACT FROM IT Source text: (bit.ly/2muINAW) Further company coverage:

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