JPM · 10-Q · 2026Q2 · Full report
Securities Financing Activity
JPMORGAN CHASE & CO · 2026-08-06 · Importance 64 · Surprise 56 · In source text
Securities financing balances expanded materially through June 30, 2026, with gross securities purchased under resale agreements increasing 24% to $763,996 million and securities borrowed increasing 28% to $456,957 million from December 31, 2025. Gross repurchase-agreement liabilities rose 41% to $1,009,979 million, while securities loaned and other increased 44% to $125,394 million. The financing activity remained concentrated in U.S. Treasury, government-agency, non-U.S. government, corporate debt and equity securities, with $580,119 million of repurchase agreements classified as overnight and continuous.
Key facts
- Securities borrowed were $362,487 million at June 30, 2026 (included $118,384 at fair value) and $286,191 million at December 31, 2025 (included $98,111 at fair value). source
- Net change in securities borrowed was $(76,298) million for the six months ended June 30, 2026 and $(4,434) million for the six months ended June 30, 2025. source
- Trading assets - debt and equity instruments (CIB average) for the three months ended June 30, 2026: $952,230 million. source
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| assets | negative | realized | -1.5% | Net change in securities borrowed was $(76,298) million for the six months ended June 30, 2026 and $(4,434) million for the six months… |
| assets | unclear | realized | — | Trading assets - debt and equity instruments (CIB average) for the three months ended June 30, 2026: $952,230 million. |