JPM · 10-Q · 2026Q2 · Full report

Structured Notes Client Demand

JPMORGAN CHASE & CO · 2026-08-06 · Importance 42 · Surprise 40

Net issuances of structured notes in Markets increased funding balances and average unsecured borrowed funds, primarily because of client demand and higher fair values. Structured notes outstanding rose to $152.5 billion at June 30, 2026 from $130.6 billion at December 31, 2025, while six-month average balances increased to $143.5 billion from $105.2 billion. The increase was partly offset by net maturities of structured notes in Markets when explaining CIB deposit trends.