JPMorgan Chase's Dimon lists global systemic importance approach as his top regulatory concern

9 April 2019 9:12am
Jamie Dimon, JPMorgan Chase's chief executive, said his biggest regulatory concern is that the international method for calculating global banks’ systemic importance lacks empirical basis and needs updating.

This flaw, Dimon said in his annual letter to shareholders last week, could infect US Federal Reserve stress tests because they would include the international approach under a pending proposal.

Without recalibration of post-crisis systemic risk requirements, he said, “certain products and services will continue to be pushed outside the banking system,” where they lack regulatory oversight.