JPM · 10-Q · 2026Q1 · Full report
Apple Card RWA Impact
JPMORGAN CHASE & CO · 2026-05-01 · Importance 65 · Surprise 82 · Contradicted
The filing reports that as of March 31, 2026 the impact to risk-weighted assets (RWA) for the Apple Card transaction was approximately $30 billion, reflecting completion of necessary modeling steps, down from an estimated impact of approximately $110 billion as of December 31, 2025. The disclosure attributes the change to modeling and indicates the Firm has incorporated the updated modeling into its capital metrics as of March 31, 2026. JPMorgan Chase directs readers to Capital Risk Management for additional information on this transaction and its regulatory capital implications.
Key facts
- Allowance for lending-related commitments included $2.2 billion associated with the Apple Card transaction. source
- As of March 31, 2026, the impact to RWA for the Apple Card transaction was approximately $30 billion, compared to approximately $110 billion as of December 31, 2025. source
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| assets | negative | realized | -1.6% | As of March 31, 2026, the impact to RWA for the Apple Card transaction was approximately $30 billion, compared to approximately $110… |
| assets | negative | realized | -0.0% | Allowance for lending-related commitments included $2.2 billion associated with the Apple Card transaction. |