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Jefferies Financial Group reported results that beat expectations and cheered investors, a good sign for bigger Wall Street banks hoping for an investment-banking rebound.
The biggest US banks proved to the Fed they would all be able to withstand a severe global recession, demonstrating strength while they push regulators to adjust a set of proposed capital rules.
NEW YORK, June 27, 2024--JPMorgan Chase & Co. (NYSE: JPM) ("JPMorgan Chase" or the "Firm") has reviewed the Federal Reserve’s 2024 stress test results and specifically the Federal Reserve’s projections for Other Comprehensive Income ("OCI"). Based on the Firm’s own assessment, the benefit in OCI appears to be too large. Should the Firm’s analysis be correct, the resulting stress losses would be modestly higher than those disclosed by the Federal Reserve.