JPM · 10-Q · 2026Q2 · Full report

Guidance / Outlook

JPMORGAN CHASE & CO · 2026-08-06 · Importance 75 · Surprise 60 · In source text

On July 14, 2026, management provided full-year 2026 guidance in connection with the second-quarter earnings announcement. Net interest income is expected to be approximately $105.5 billion, including approximately $96.5 billion excluding Markets, with both figures described as market dependent. Adjusted expense is expected to be approximately $107.5 billion, also market dependent, and the Card Services net charge-off rate is expected to be approximately 3.2%.

Key facts

• Full-year 2026 management expects net interest income of approximately $105.5 billion, market dependent. source
• Over the next 12 months, the Firm expects that approximately $(1.7) billion (after-tax) of net losses recorded in AOCI at June 30, 2026 related to cash flow hedges will be recognized in income. source
• For cash flow hedges that have been terminated, the maximum length of time over which the derivative results recorded in AOCI will be recognized in earnings is approximately ten years. source
• For open cash flow hedges, the maximum length of time over which forecasted transactions are hedged is approximately ten years. source
• FASB issued Derivatives and Hedging and Revenue from Contracts with Customers scope refinements in September 2025 with required effective date January 1, 2027, and the Firm is evaluating the potential impact and planned date of adoption. source
• The Firm stated it believes its process to consider available information and associated risks and uncertainties is appropriately governed and that its estimates of expected credit losses were reasonable and appropriate for the period ended June 30, 2026. source
• The Firm did not experience any forecasted transactions that failed to occur for the three and six months ended June 30, 2026 and 2025. source

Impact estimates