The DFAST results are in line with expectations and provide no new trading catalyst. Monitor the Federal Reserve's own stress test results for potential divergence, but JPM's capital position remains robust. No immediate action warranted.
Price Chart
Executive Summary
JPMorgan Chase released its 2026 Dodd-Frank Act Stress Test (DFAST) results, showing strong capital resilience under the Federal Reserve's severely adverse scenario. The projected minimum Common Equity Tier 1 (CET1) ratio of 12.4% remains well above the 4.5% regulatory minimum, with cumulative pre-provision net revenue of $135.9B and total loan losses of $70.2B over nine quarters. The results are routine and confirm the bank's capital adequacy without any material surprises.
Key Facts
- Projected minimum CET1 ratio of 12.4% under severely adverse scenario (actual 4Q25: 14.6%)
- Cumulative pre-provision net revenue of $135.9B over nine quarters
- Cumulative projected loan losses of $70.2B (5.0% portfolio loss rate)
- Net income before taxes of $11.4B under stress scenario
- All capital ratios remain well above regulatory minimums
Financial Impact
No direct financial impact; stress test results confirm capital adequacy with CET1 ratio bottoming at 12.4% vs. 4.5% minimum
Risk Factors
- Hypothetical scenario may not reflect actual future economic conditions
- Federal Reserve's independent stress test results could differ from company-run results
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001628280-26-045169 |
| Document: a2026_resultsandmethodol.htm | 0001628280-26-045169 |
| Document: 0001628280-26-045169-index-headers.html | 0001628280-26-045169 |
| Document: 0001628280-26-045169-index.html | 0001628280-26-045169 |
| Document: 0001628280-26-045169.txt | 0001628280-26-045169 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 11, 2026 21d ago | Court Ruling | $356.23 $349.67 | ▼ −1.84% | ▼ −1.50% | $333.32 (−6.43%) |
Sep 10, 2026 22d ago | Court Ruling | $353.56 $349.31 | ▼ −1.20% | ▼ −1.83% | $333.32 (−5.72%) |
Sep 9, 2026 23d ago | Court Ruling | $354.71 $348.92 | ▼ −1.63% | ▼ −0.54% | $333.32 (−6.03%) |
Sep 3, 2026 29d ago | Court Ruling | $362.06 $356.23 | ▼ −1.61% | ▼ −0.46% | $333.32 (−7.94%) |
Sep 1, 2026 4w ago | Court Ruling | $354.95 $354.71 | ▼ −0.07% | ▼ −0.15% | $333.32 (−6.09%) |
Aug 31, 2026 4w ago | Court Ruling | $356.02 $353.51 | ▼ −0.70% | ▼ −0.56% | $333.32 (−6.38%) |
Aug 31, 2026 4w ago | Court Ruling | $356.02 $353.51 | ▼ −0.70% | ▼ −0.56% | $333.32 (−6.38%) |
Aug 27, 2026 5w ago | Court Ruling | $354.22 $362.06 | ▲ +2.21% | ▲ +1.94% | $333.32 (−5.90%) |
Aug 26, 2026 5w ago | Court Ruling | $356.50 $356.22 | ▼ −0.08% | ▲ +0.04% | $333.32 (−6.50%) |
Aug 19, 2026 6w ago | Court Ruling | $357.26 $356.54 | ▼ −0.20% | ▲ +0.18% | $333.32 (−6.70%) |
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