Reuters exclusively reports JPMorgan's Dimon cautions a U.S. default would be 'potentially catastrophic' - Reuters News Agency
Business & Finance

Reuters exclusively reports JPMorgan’s Dimon cautions a U.S. default would be ‘potentially catastrophic’

Reuters exclusively reported that Chief Executive Jamie Dimon said JPMorgan Chase & Co has begun preparing for the possibility of the United States hitting its debt limit, adding he nevertheless expected policymakers to find a solution to avoid that “potentially catastrophic” event. The country’s largest lender has begun scenario-planning for how a potential U.S. credit default would affect the repo and money markets, client contracts, its capital ratios and how ratings agencies would react.

Article Tags
Topics of Interest: Business & Finance
Type: Reuters Best
Sectors: Equities
Regions: North America
Win Types: Exclusivity
Story Types: Exclusive / Scoop
Media Types: Text
Customer Impact: Important Regional Story
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