JPM · 10-Q · 2026Q1 · Full report

Trading Assets Increase

JPMORGAN CHASE & CO · 2026-05-01 · Importance 78 · Surprise 74 · Contradicted

Trading assets were $1.069 trillion at March 31, 2026, up from $802.9 billion at December 31, 2025, an increase of approximately $266.5 billion. The rise was driven by higher levels of equity and debt instruments in Markets, primarily related to client-driven market-making activities and seasonally higher levels versus year-end. The build in trading assets contributed to higher federal funds sold and securities purchased under resale agreements and higher trading liabilities as part of secured financing activity. See Notes 2 and 4 for additional detail on trading asset composition and client-driven activity.

Key facts

• Trading assets at period-end March 31, 2026: $1,069,335 million source
• Trading assets on the consolidated balance sheet at March 31, 2026: $1,069,335 million and at December 31, 2025: $802,873 million (included assets pledged of $255,035 million and $165,927 million, respectively) source
• Trading liabilities at March 31, 2026: $247,836 million and at December 31, 2025: $216,019 million source
• Total trading assets at March 31, 2026: $1,069,335 million. source
• Total trading assets at December 31, 2025: $802,873 million. source
• Total fair value of trading assets and liabilities at March 31, 2026: $668,835 and total fair value of trading assets and liabilities components total fair value of trading assets and liabilities $668,835 and total fair value of trading assets and liabilities net derivative receivables $71,584 (component table shows trading assets and liabilities $666,912, $1,923, $668,835, $71,584) source
• Trading liabilities total at March 31, 2026: $247,836 million. source
• CIB trading assets - debt and equity instruments were $874,262 million on average for the three months ended March 31, 2026. source

Impact estimates