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JPMorgan expects capital surcharge rate of 4%: CFO

FILE PHOTO: A woman passes by a JPMorgan Chase bank in Times Square in New York City, U.S., March 7, 2019. REUTERS/Brendan McDermid

NEW YORK (Reuters) - JPMorgan Chase & Co Chief Financial Officer Jennifer Piepszak said she expects the bank’s capital surcharge requirement to be 4% unless there is a regulatory change.

These surcharges require the bank to hold more capital, which can mean a bank lends less.

“It would be very, very difficult for us to get back to 3.5% without recalibration, so we expect to be in the 4% bucket,” Piepszak said at a virtual conference hosted by Credit Suisse.

Reporting By Elizabeth Dilts Marshall

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