v3.25.2
Allowance for Credit Losses (Tables)
 6 Months Ended
Jun. 30, 2025
Credit Loss [Abstract]  
Allowance for credit losses on loans and lending-related commitments
The table below summarizes information about the allowances for credit losses and includes a breakdown of loans and lending-related commitments by impairment methodology. Refer to Note 10 of JPMorganChase’s 2024 Form 10-K and Note 9 of this Form 10-Q for further information on the allowance for credit losses on investment securities.
2025
2024
Six months ended June 30,
(in millions)		Consumer, excluding
credit card		Credit cardWholesaleTotalConsumer, excluding credit cardCredit cardWholesaleTotal
Allowance for loan losses
Beginning balance at January 1,$1,807 $14,600 $7,938 $24,345 $1,856 $12,450 $8,114 $22,420 
Gross charge-offs540 4,616 604 5,760 661 3,998 448 5,107 
Gross recoveries collected(248)(698)(72)(1,018)(343)(482)(95)(920)
Net charge-offs/(recoveries)292 3,918 532 4,742 318 3,516 353 4,187 
Provision for loan losses334 4,319 691 5,344 204 4,266 288 4,758 
Other— — 6 6 1 — (1)— 
Ending balance at June 30,$1,849 $15,001 $8,103 $24,953 $1,743 $13,200 $8,048 $22,991 
Allowance for lending-related commitments
Beginning balance at January 1,$82 $— $2,019 $2,101 $75 $— $1,899 $1,974 
Provision for lending-related commitments1 — 830 831 17 — 77 94 
Other— — — — — — — — 
Ending balance at June 30,$83 $— $2,849 $2,932 $92 $— $1,976 $2,068 
Total allowance for investment securitiesNANANA108 NANANA177 
Total allowance for credit losses(a)
$1,932 $15,001 $10,952 $27,993 $1,835 $13,200 $10,024 $25,236 
Allowance for loan losses by impairment methodology
Asset-specific(b)
$(683)$— $781 $98 $(856)$— $562 $(294)
Portfolio-based2,532 15,001 7,322 24,855 2,599 13,200 7,486 23,285 
Total allowance for loan losses$1,849 $15,001 $8,103 $24,953 $1,743 $13,200 $8,048 $22,991 
Loans by impairment methodology
Asset-specific(b)
$2,895 $— $4,519 $7,414 $3,034 $— $3,283 $6,317 
Portfolio-based368,960 232,943 736,156 1,338,059 379,761 216,100 670,869 1,266,730 
Total retained loans$371,855 $232,943 $740,675 $1,345,473 $382,795 $216,100 $674,152 $1,273,047 
Collateral-dependent loans
Net charge-offs$(5)$— $108 $103 $3 $— $134 $137 
Loans measured at fair value of collateral less cost to sell2,754 — 1,763 4,517 2,978 — 1,341 4,319 
Allowance for lending-related commitments
   by impairment methodology
Asset-specific$— $— $167 $167 $— $— $107 $107 
Portfolio-based83 — 2,682 2,765 92 — 1,869 1,961 
Total allowance for lending-related commitments(c)
$83 $— $2,849 $2,932 $92 $— $1,976 $2,068 
Lending-related commitments by impairment methodology
Asset-specific$— $— $922 $922 $— $— $541 $541 
Portfolio-based(d)
26,390 321 534,556 561,267 27,375 — 511,857 539,232 
Total lending-related commitments$26,390 $321 $535,478 $562,189 $27,375 $— $512,398 $539,773 
(a)At June 30, 2025 and 2024, in addition to the allowance for credit losses in the table above, the Firm also had an allowance for credit losses of $288 million and $278 million, respectively, associated with certain accounts receivable in CIB.
(b)Includes collateral-dependent loans, including those for which foreclosure is deemed probable, and nonaccrual risk-rated loans.
(c)The allowance for lending-related commitments is reported in accounts payable and other liabilities on the Consolidated balance sheets.
(d)At June 30, 2025 and 2024, lending-related commitments excluded $20.7 billion and $19.8 billion, respectively, for the consumer, excluding credit card portfolio segment; $1.0 trillion and $964.7 billion, respectively, for the credit card portfolio segment; and $24.2 billion and $32.6 billion, respectively, for the wholesale portfolio segment, which were not subject to the allowance for lending-related commitments.
U.S. unemployment rates and cumulative change in U.S. real GDP
The following table presents the Firm’s central case assumptions for the periods presented:
Central case assumptions
at June 30, 2025
4Q252Q264Q26
U.S. unemployment rate(a)
4.6 %4.8 %4.5 %
YoY growth in U.S. real GDP(b)
0.6 %1.0 %2.1 %
Central case assumptions
at December 31, 2024
2Q254Q252Q26
U.S. unemployment rate(a)
4.5 %4.3 %4.3 %
YoY growth in U.S. real GDP(b)
2.0 %1.9 %1.8 %
(a)Reflects quarterly average of forecasted U.S. unemployment rate.
(b)The year over year growth in U.S. real GDP in the forecast horizon of the central scenario is calculated as the percentage change in U.S. real GDP levels from the prior year.