JPM · News · 20261106N

Interest Rate Exposure

JPMORGAN CHASE & CO · 2026-11-06 · Importance 20 · Surprise 24

At the Nov. 5 BancAnalysts Association of Boston Conference, JPMorgan Treasury and chief investment officer Charles Bristow discussed managing risks from structurally higher interest rates. Bristow said JPMorgan has historically avoided excessive exposure to longer-duration securities, limiting valuation risks when rates rise. He also cited operating deposits linked to payments, custody and checking as a source of funding stability, while warning that unusually sharp rate increases could pressure deposit costs.

Key facts

• At the Nov. 5 BancAnalysts Association of Boston Conference, JPMorgan head of Treasury and chief investment officer Charles Bristow emphasized disciplined duration management, stable operating deposits and rigorous stress testing to navigate interest rate volatility. source
• JPMorgan has historically avoided excessive exposure to longer-duration securities, helping limit valuation risks as interest rates increased. source
• JPMorgan’s operating deposits linked to payments, custody and checking activities support funding stability, although unusually sharp rate increases could pressure deposit costs. source