NEW YORK–(BUSINESS WIRE)–Tonight, JPMorgan Chase issued the following statement:
Throughout our history, JPMorgan Chase has taken actions to help ensure that our financial system remains strong, resilient and well positioned to support customers, clients and communities around the U.S. and across the world.
At our Investor Day in February we explained our willingness to utilize the debit cap and discount window from time to time, and we were public about it to help dispel the stigma that debit cap or discount window usage equates to illiquidity or distress of an institution.
As the Financial Services Forum has announced, JPMorgan Chase and other major U.S. financial services are now actively supporting the use of the discount window, by executing public discount window transactions. While measured, this symbolic transaction demonstrates that this liquidity and cash management tool is an important part of the financial system.
As we said on Sunday, JPMorgan Chase has the capabilities and balance sheet to support the financial system and all of our constituencies even if circumstances get dramatically worse. We stand ready to support our clients, customers, communities and government in any way we can.
Contacts
Joseph Evangelisti; 212-270-7438; [email protected]
