They are also among the handful of banks which can buy Treasury debt straight from the central bank.
That puts leaders like JPMorgan chief Jamie Dimon at the center of the global financial spiderweb.
To be sure, the financial statements that the banks will start to release on Friday will be backward-looking.
Interest income will reflect the sharp and continued rise of central bank rates, which drag up the price banks must pay for customer deposits and what they charge for loans.
It’s a big economic question, since plastic-related debt in the United States hit a record $1 trillion in August.
Persons:
Jamie Dimon, Marco Bello, Brian Moynihan’s, Jane Fraser, Wells Fargo, Dimon, Dean Athanasia, Banks, Wells, Peter Thal Larsen, Sharon Lam
Organizations:
JPMorgan Chase &, Reuters, REUTERS, JPMorgan, Bank of America, Citigroup, of America, Treasury, Citi, Fraser, Reuters Graphics Reuters, Federal Reserve, Federal, Bank of, Reuters Graphics Reuters Graphics Bank, Alpha, Thomson
Locations:
Miami , Florida, U.S, Wells Fargo, Wells, United States