The bank has shied away from servicing a lot of federal FHA loans, he said, because delinquencies could hit 5% or 10% there, "which is guaranteed to happen in a downturn," Dimon said. They are used to continuously apply low to medium viscosity multiple component materials such as epoxies, polyurethanes and silicones within a mixing ratio of 100:100 to. Keep your headphones on and the volume up, gang. It's from this vein that Economix 2021 flows, and I hope it helps take you away to another place for a little while. But through any hardship, hope always rises. That's the environment we're dealing with."īanks having a "fortress balance sheet" and conservative accounting are the best protections for a downturn, Dimon said. economix: dispensing system for epoxy and other 2K fluids The economix range of systems are compact, solvent free, pneumatically driven piston pump metering and mixing systems. Reconciling our lives with the reality of our present world has defined a lot of 2021. "I kind of want to shed nonoperating deposits again, which we can do in size, to protect ourselves so we can serve clients in bad times. "With all this capital uncertainty, we're going to have to take actions," Dimon said. That would help the bank manage its capital requirements under international rules, potentially helping it absorb a surge in bad loans. One step the bank could take to gird itself for a coming hurricane is to push clients to move a type of lower-quality deposit called " non-operating deposits" into other places, such as money market funds, for example. "I don't know what the effect of that is, but I'm prepared for, at a minimum, huge volatility." "That's a huge change in the flow of funds around the world," Dimon said. The so-called quantitative tightening, or QT, is scheduled to begin this month and will ramp up to $95 billion a month in reduced bond holdings. There are two main factors that has Dimon worried: First, the Federal Reserve has signaled it will reverse its emergency bond-buying programs and shrink its balance sheet. "That hurricane is right out there, down the road, coming our way." "Right now, it's kind of sunny, things are doing fine, everyone thinks the Fed can handle this," Dimon said. But people who did not receive the maximum amount of the Economic Stimulus Payment, and whose circumstances have changed, may be eligible now. While stocks bounced from a precipitous decline in recent weeks on optimism that inflation may be easing, Dimon seemed to dash hopes that the bottom is in. Inflation at multidecade highs, exacerbated by supply chain disruptions and the coronavirus pandemic, has sown fear that the Fed will inadvertently tip the economy into recession as it combats price increases. "JPMorgan is bracing ourselves and we're going to be very conservative with our balance sheet."īeginning late last year with high-flying tech names, stocks have been hammered as investors prepare for the end of the Federal Reserve's cheap money era. "You'd better brace yourself," Dimon told the roomful of analysts and investors.
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