JPM · 10-Q · 2026Q2 · Full report
Fair Value Exposure
JPMORGAN CHASE & CO · 2026-08-06 · Importance 59 · Surprise 48 · In source text
Assets measured at fair value totaled $2.257 trillion at June 30, 2026, including $33.732 billion of level 3 assets, against total Firm assets of $5.015 trillion. Recurring fair-value assets increased to $2.252 trillion from $1.830 trillion at December 31, 2025, primarily because trading assets increased 32.3% to $1.062 trillion from $802.873 billion. Level 3 recurring assets increased to $29.965 billion from $25.107 billion, while mortgage servicing rights were $9.156 billion and credit card rewards liability was $16.6 billion at June 30, 2026.
Key facts
- Total assets measured at fair value on a recurring basis as of June 30, 2026: $2,252,446 million, with total level 3 assets within recurring fair value of $29,965 million. source
- Amounts recorded in OCI for interest rate cash flow hedges for the three months ended June 30, 2026 were $(1,805) million recorded in OCI and total change in OCI for the period was $(1,716) million. source
- Amounts recorded in OCI for interest rate cash flow hedges for the six months ended June 30, 2026 were $(3,122) million recorded in OCI and total change in OCI for the period was $(3,275) million. source
- At June 30, 2026, the amortized cost of the portfolio layer method closed portfolios was $72.5 billion and $56.4 billion was designated as hedged. source
- For the six months ended June 30, 2026, there were $5.7 billion of net gains on assets, predominantly driven by gains in net derivative receivables due to market movements. source
- Trading liabilities at June 30, 2026: $275,136 million. source
- For the three months ended June 30, 2026, there were $4.0 billion of net losses on liabilities, predominantly driven by losses in long-term debt due to market movements. source
- For the three months ended June 30, 2026, there were $2.8 billion of net gains on assets, predominantly driven by gains in net derivative receivables due to market movements. source
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| net_income | positive | realized | +9.9% | For the six months ended June 30, 2026, there were $5.7 billion of net gains on assets, predominantly driven by gains in net derivative… |
| assets | positive | realized | — | Total assets measured at fair value on a recurring basis as of June 30, 2026: $2,252,446 million, with total level 3 assets within… |
| assets | positive | realized | — | At June 30, 2026, the amortized cost of the portfolio layer method closed portfolios was $72.5 billion and $56.4 billion was designated as… |
| liability | unclear | realized | — | Trading liabilities at June 30, 2026: $275,136 million. |