JPMorgan Chase has quietly revealed tens of billions of dollars in losses on securities, according to a new report on the company’s overall balance sheet.
The banking giant is now stuck with roughly $40 billion in unrealized bond losses as of Q3 of this year, which is a 20% rise over the previous quarter, reports Barron’s.
The new numbers were located in a footnote on the firm’s third-quarter financial supplement and were higher than an expected $34 billion loss.
The news follows a new quarterly report from Bank of America revealing it now has a total of $131.6 billion in unrealized losses.
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