JPM · 10-Q · 2026Q2 · Full report

Structured Notes Exposure

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

JPMorgan’s structured notes totaled $193.1 billion at June 30, 2026, up from $165.0 billion at December 31, 2025, an increase of approximately 17%. Interest-rate-linked notes were the largest exposure at $98.8 billion, followed by equity-linked notes at $77.2 billion, with additional credit and foreign-exchange-linked products. The notes are predominantly issued or transacted as part of client-driven activities and are actively risk-managed. Principal-protected debt contractual balances increased to $91.8 billion from $74.0 billion, while total fair value of long-term debt measured under the fair value option increased to $156.1 billion from $134.6 billion.

Key facts

• Structured notes total fair value by balance sheet classification was $151,055 million long-term debt, $16,058 million short-term borrowings and $25,964 million deposits for a total of $193,077 million at June 30, 2026 (compared with total $164,965 million at December 31, 2025). source
• Within structured notes at June 30, 2026, interest rate risk exposure represented $74,343 million of long-term debt, $2,158 million of short-term borrowings and $22,251 million of deposits totaling $98,752 million. source

Impact estimates