JPMorgan Chase on Use of Discount Window
March 16 2020 - 10:06PM
Business Wire
Tonight, JPMorgan Chase issued the following statement:
Throughout our history, JPMorgan Chase has taken actions to help
ensure that our financial system remains strong, resilient and well
positioned to support customers, clients and communities around the
U.S. and across the world.
At our Investor Day in February we explained our willingness to
utilize the debit cap and discount window from time to time, and we
were public about it to help dispel the stigma that debit cap or
discount window usage equates to illiquidity or distress of an
institution.
As the Financial Services Forum has announced, JPMorgan Chase
and other major U.S. financial services are now actively supporting
the use of the discount window, by executing public discount window
transactions. While measured, this symbolic transaction
demonstrates that this liquidity and cash management tool is an
important part of the financial system.
As we said on Sunday, JPMorgan Chase has the capabilities and
balance sheet to support the financial system and all of our
constituencies even if circumstances get dramatically worse. We
stand ready to support our clients, customers, communities and
government in any way we can.
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version on businesswire.com: https://www.businesswire.com/news/home/20200316005942/en/
Joseph Evangelisti; 212-270-7438;
joseph.evangelisti@jpmchase.com
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