JPM · 10-Q · 2026Q3 · Full report

Investment Securities Losses

JPMORGAN CHASE & CO · 2026-11-03 · Importance 59 · Surprise 74

Treasury and CIO recorded a $658 million investment-securities loss in the third quarter of 2026, primarily from sales of U.S. Treasuries as it repositioned the portfolio; the prior-year quarter had a gain. For the first nine months, investment-securities losses were $993 million, reflecting sales of U.S. GSE and government agency mortgage-backed securities and U.S. Treasuries, compared with gains in the prior year. The average investment-securities portfolio was $826.4 billion for the quarter and $810.0 billion for the nine-month period.

Key facts

• At September 30, 2026, the Firm's AFS securities with gross unrealized losses had total fair value of $67,215 million and total gross unrealized losses of $3,539 million. source
• Third-quarter 2026 investment securities losses in Treasury and CIO were $658 million, or $498 million after tax. source
• At September 30, 2026, the Firm's AFS securities with unrealized losses excluded from the aging table included $13.3 billion of U.S. Treasury and government agency securities and U.S. GSE and government agency MBS. source