3Q13 Earnings Earnings Supplement

EARNINGS RELEASE FINANCIAL SUPPLEMENT THIRD QUARTER 2013
JPMORGAN CHASE & CO. TABLE OF CONTENTS Page(s) Consolidated Results Consolidated Financial Highlights Consolidated Statements of Income Consolidated Balance Sheets Condensed Average Balance Sheets and Annualized Yields Core Net Interest Income Reconciliation from Reported to Managed Summary Business Detail Line of Business Financial Highlights - Managed Basis Consumer & Community Banking Consumer & Business Banking Mortgage Banking Card, Merchant Services & Auto Corporate & Investment Bank Commercial Banking Asset Management Corporate/Private Equity Credit-Related Information Market Risk-Related Information Supplemental Detail Capital and Other Selected Balance Sheet Items Mortgage Repurchase Liability Per Share-Related Information Non-GAAP Financial Measures Glossary of Terms 2-3 4 5 6 7 8 9 10-11 12 13-16 17-18 19-22 23-24 25-29 30-31 32-37 38 39 40 41 42 43-47
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JPMORGAN CHASE & CO.
CONSOLIDATED FINANCIAL HIGHLIGHTS

(in millions, except per share and ratio data) QUARTERLY TRENDS SELECTED INCOME STATEMENT DATA Reported Basis Total net revenue Total noninterest expense Pre-provision profit/(loss) Provision for credit losses NET INCOME(LOSS) Managed Basis (a) Total net revenue Total noninterest expense Pre-provision profit Provision for credit losses NET INCOME/(LOSS) PER COMMON SHARE DATA Net income/(loss): Basic Diluted Cash dividends declared Book value Tangible book value (b) COMMON SHARES OUTSTANDING Average: Basic Diluted Common shares at period-end Closing share price (c) Market capitalization FINANCIAL RATIOS (d) Return on common equity ("ROE") Return on tangible common equity ("ROTCE") (b) Return on assets Return on risk-weighted assets (e)(f) CAPITAL RATIOS (f) Tier 1 capital ratio Total capital ratio Tier 1 common capital ratio (g) 3Q13 $ 23,117 23,626 (509) (543) (380) $ 2Q13 25,211 15,866 9,345 47 6,496 $ 1Q13 25,122 15,423 9,699 617 6,529 $ 4Q12 23,653 16,047 7,606 656 5,692 $ 3Q12 25,146 15,371 9,775 1,789 5,708 3Q13 Change 2Q13 3Q12 (8) % 49 NM NM NM (8) % 54 NM NM NM $ NINE MONTHS ENDED SEPTEMBER 30, 2013 Change 2013 2012 2012 73,450 54,915 18,535 121 12,645 $ 73,378 48,682 24,696 2,729 15,592 - % 13 (25) (96) (19)
23,880 23,626 254 (543) (380)
25,958 15,866 10,092 47 6,496
25,848 15,423 10,425 617 6,529
24,378 16,047 8,331 656 5,692
25,863 15,371 10,492 1,789 5,708
(8) 49 (97) NM NM
(8) 54 (98) NM NM
75,686 54,915 20,771 121 12,645
75,512 48,682 26,830 2,729 15,592
13 (23) (96) (19)
(0.17) (0.17) 0.38 52.01 39.51
1.61 1.60 0.38 (h) 52.48 39.97
1.61 1.59 0.30 52.02 39.54
1.40 1.39 0.30 51.27 38.75
1.41 1.40 0.30 50.17 37.53
NM NM (1) (1)
NM NM 27 4 5
3.08 3.05 1.06 (h) 52.01 39.51
3.82 3.81 0.90 50.17 37.53
(19) (20) 18 4 5
3,767.0 3,767.0 3,759.2 51.69 194,312
3,782.4 3,814.3 3,769.0 52.79 198,966
3,818.2 3,847.0 3,789.8 47.46 179,863
3,806.7 3,820.9 3,804.0 43.97 167,260
3,803.3 3,813.9 3,799.6 40.48 153,806
(1) (2) (2)
(1) (1) (1) 28 26
3,789.2 3,820.9 3,759.2 51.69 194,312
3,810.4 3,822.6 3,799.6 40.48 153,806
(1) (1) 28 26
(1) % (2) (0.06) (0.11) (i)
13 % 17 1.09 1.85
13 % 17 1.14 1.88
11 % 15 0.98 1.76
12 % 16 1.01 1.74
8 % 11 0.71 1.20 (i)
11 % 15 0.92 1.61
11.7 (i) 14.3 (i) 10.5 (i)
11.6 14.1 10.4
11.6 14.1 10.2
12.6 15.3 11.0
11.9 14.7 10.4
11.7 (i) 14.3 (i) 10.5 (i)
11.9 14.7 10.4
(a) (b) (c) (d) (e) (f) (g) (h) (i)
For a further discussion of managed basis, see Reconciliation from Reported to Managed Summary on page 8. Tangible book value per share and ROTCE are non-GAAP financial measures. Tangible book value per share represents the Firm's tangible common equity divided by period-end common shares. ROTCE measures the Firm's annualized earnings as a percentage of tangible common equity. For further discussion of these measures, see page 42. Share price shown for JPMorgan Chase's common stock is from the New York Stock Exchange. JPMorgan Chase's common stock is also listed and traded on the London Stock Exchange and the Tokyo Stock Exchange. Ratios are based upon annualized amounts. Return on Basel I risk-weighted assets is the annualized earnings of the Firm divided by its average risk-weighted assets. Basel 2.5 rules became effective for the Firm on January 1, 2013. The implementation of these rules in the first quarter of 2013 resulted in an increase of approximately $150 billion in risk-weighted assets compared with the Basel I rules. The implementation of these rules also resulted in decreases of the Firms Tier 1 capital, Total capital and Tier 1 common capital ratios by 140 basis points, 160 basis points and 120 basis points, respectively, at March 31, 2013. For further discussion of Basel 2.5, see Regulatory capital on pages 60-63 of JPMorgan Chase's 2Q13 Form 10-Q. Basel I Tier 1 common capital ratio (Tier 1 common ratio) is Tier 1 common capital (Tier 1 common) divided by risk-weighted assets. The Firm uses Tier 1 common capital along with the other capital measures to assess and monitor its capital position. For further discussion of the Tier 1 common capital ratio, see page 42. On May 21, 2013, the Board of Directors of JPMorgan Chase increased the Firm's quarterly common stock dividend from $0.30 to $0.38 per share. Estimated.
Page 2
CONSOLIDATED FINANCIAL HIGHLIGHTS,

(in millions, except ratio and headcount data) QUARTERLY TRENDS 3Q13 SELECTED BALANCE SHEET DATA (period-end) Total assets Loans: Consumer, excluding credit card loans Credit card loans Wholesale loans Total Loans Deposits Common stockholders' equity Total stockholders' equity Loans-to-deposits ratio Headcount (a) LINE OF BUSINESS NET INCOME/(LOSS) (b) Consumer & Community Banking Corporate & Investment Bank Commercial Banking Asset Management Corporate/Private Equity NET INCOME/(LOSS) $ 2,463,309 288,350 123,982 316,347 728,679 1,281,102 195,512 206,670 57 % 255,041 2Q13 $ 2,439,494 288,096 124,288 313,202 725,586 1,202,950 197,781 209,239 60 % 254,063 1Q13 $ 2,389,349 290,082 121,865 316,939 728,886 1,202,507 197,128 207,086 61 % 255,898 4Q12 $ 2,359,141 292,620 127,993 313,183 733,796 1,193,593 195,011 204,069 61 % 258,753 3Q12 $ 2,321,284 295,079 124,537 302,331 721,947 1,139,611 190,635 199,693 63 % 259,144 (2) 3Q13 Change 2Q13 3Q12 1 % 1 6 (1) (1) 6 % (2) 5 1 12 3 3 NINE MONTHS ENDED SEPTEMBER 30, 2013 Change 2013 2012 2012 $ 2,463,309 288,350 123,982 316,347 728,679 1,281,102 195,512 206,670 57 % 255,041 $ 2,321,284 295,079 124,537 302,331 721,947 1,139,611 190,635 199,693 63 % 259,144 (2) 6 % (2) 5 1 12 3 3
2,702 2,240 665 476 (6,463) (380)
3,089 2,838 621 500 (552) 6,496
2,586 2,610 596 487 250 6,529
1,989 2,005 692 483 523 5,692
2,355 1,992 690 443 228 5,708
(13) (21) 7 (5) NM NM
15 12 (4) 7 NM NM
8,377 7,688 1,882 1,463 (6,765) 12,645
8,562 6,401 1,954 1,220 (2,545) 15,592
(2) 20 (4) 20 (166) (19)
(a) (b)
Effective January 1, 2013, interns are excluded from the firmwide and business segment headcount metrics reported on this page and throughout this Financial Supplement. Prior periods were revised to conform with this presentation. In the second quarter of 2013, the 2012 net income/(loss) data of Consumer & Community Banking ("CCB") and Corporate/Private Equity were revised to reflect the transfer of certain technology and operations, as well as real estate-related functions and staff, from Corporate/ Private Equity to CCB, effective January 1, 2013. For further information on this transfer, see CCB on page 10, Consumer & Business Banking on page 12 and Corporate/Private Equity on page 30.
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CONSOLIDATED STATEMENTS OF INCOME

(in millions, except per share and ratio data) QUARTERLY TRENDS REVENUE Investment banking fees Principal transactions Lending- and deposit-related fees Asset management, administration and commissions Securities gains Mortgage fees and related income Card income Other income Noninterest revenue Interest income Interest expense Net interest income TOTAL NET REVENUE Provision for credit losses NONINTEREST EXPENSE Compensation expense Occupancy expense Technology, communications and equipment expense Professional and outside services Marketing Other expense (a) Amortization of intangibles TOTAL NONINTEREST EXPENSE Income before income tax expense Income tax expense NET INCOME/(LOSS) PER COMMON SHARE DATA Basic earnings Diluted earnings FINANCIAL RATIOS Return on common equity (b) Return on tangible common equity (b)(c) Return on assets (b) Return on risk-weighted assets (b)(c)(d) Effective income tax rate Overhead ratio 3Q13 1,507 2,662 1,519 3,667 26 841 1,518 602 12,342 13,162 2,387 10,775 23,117 (543) 2Q13 1,717 3,760 1,489 3,865 124 1,823 1,503 226 14,507 13,145 2,441 10,704 25,211 47 1Q13 1,445 3,761 1,468 3,599 509 1,452 1,419 536 14,189 13,427 2,494 10,933 25,122 617 4Q12 1,727 1,194 1,571 3,679 102 2,035 1,502 721 12,531 13,634 2,512 11,122 23,653 656 3Q12 1,443 2,047 1,562 3,336 458 2,377 1,428 1,519 14,170 13,629 2,653 10,976 25,146 1,789 3Q13 Change 2Q13 3Q12 (12) % 4 % (29) 30 2 (3) (5) 10 (79) (94) (54) (65) 1 6 166 (60) (15) (13) (3) (2) (10) 1 (2) (8) (8) NM NM NINE MONTHS ENDED SEPTEMBER 30, 2013 Change 2013 2012 2012 4,669 $ 4,081 14 % 10,183 4,342 135 4,476 4,625 (3) 11,131 10,189 9 659 2,008 (67) 4,116 6,652 (38) 4,440 4,156 7 1,364 3,537 (61) 41,038 39,590 4 39,734 42,429 (6) 7,322 8,641 (15) 32,412 33,788 (4) 73,450 73,378 121 2,729 (96)
7,325 947 1,356 1,897 588 11,373 140 23,626 34 414 (380)
8,019 904 1,361 1,901 578 2,951 152 15,866 9,298 2,802 6,496
8,414 901 1,332 1,734 589 2,301 152 15,423 9,082 2,553 6,529
7,042 911 1,359 2,018 648 3,678 391 16,047 6,950 1,258 5,692
7,503 973 1,312 1,759 607 3,035 182 15,371 7,986 2,278 5,708
(9) 5 2 285 (8) 49 (100) (85) NM
(2) (3) 3 8 (3) 275 (23) 54 (100) (82) NM
23,758 2,752 4,049 5,532 1,755 16,625 444 54,915 18,414 5,769 12,645
23,543 3,014 3,865 5,411 1,929 10,354 566 48,682 21,967 6,375 15,592
1 (9) 5 2 (9) 61 (22) 13 (16) (10) (19)
(0.17) (0.17)
1.61 1.60
1.61 1.59
1.40 1.39
1.41 1.40
NM NM
NM NM
3.08 3.05
3.82 3.81
(19) (20)
(1) % (2) (0.06) (0.11) (e) NM 102
13 % 17 1.09 1.85 30 63
13 % 17 1.14 1.88 28 61
11 % 15 0.98 1.76 18 68
12 % 16 1.01 1.74 29 61
8 % 11 0.71 1.20 (e) 31 75
11 % 15 0.92 1.61 29 66
(a) (b) (c) (d) (e)
Included litigation expense of $9.3 billion, $0.7 billion, $0.3 billion, $1.2 billion and $0.8 billion for the three months ended September 30, 2013, June 30, 2013, March 31, 2013, December 31, 2012 and September 30, 2012, respectively, and $10.3 billion and $3.8 billion for the nine months ended September 30, 2013 and 2012, respectively. Ratios are based upon annualized amounts. For further discussion of ROTCE and return on Basel I risk-weighted assets, see pages 2 and 42. In the first quarter of 2013, the Firm implemented Basel 2.5. For further information, see footnote (f) on page 2. Estimated.
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CONSOLIDATED BALANCE SHEETS

(in millions) Sep 30, 2013 Change Jun 30, Sep 30, 2013 2012 5 19 (7) 5 (3) (9) 1 (9) 1 (19) 2 2 (7) 1 % (43) 256 (16) (8) (14) (16) (3) 1 (23) 2 5 4 34 (31) 10 6 %
Sep 30, 2013 ASSETS Cash and due from banks Deposits with banks Federal funds sold and securities purchased under resale agreements Securities borrowed Trading assets: Debt and equity instruments Derivative receivables Securities Loans Less: Allowance for loan losses Loans, net of allowance for loan losses Accrued interest and accounts receivable Premises and equipment Goodwill Mortgage servicing rights Other intangible assets Other assets TOTAL ASSETS LIABILITIES Deposits Federal funds purchased and securities loaned or sold under repurchase agreements Commercial paper Other borrowed funds Trading liabilities: Debt and equity instruments Derivative payables Accounts payable and other liabilities Beneficial interests issued by consolidated VIEs Long-term debt TOTAL LIABILITIES STOCKHOLDERS' EQUITY Preferred stock Common stock Capital surplus Retained earnings Accumulated other comprehensive income Shares held in RSU Trust, at cost Treasury stock, at cost TOTAL STOCKHOLDERS' EQUITY TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 30,664 371,445 235,916 122,438 316,560 66,788 356,556 728,679 17,571 711,108 66,269 14,876 48,100 9,490 1,817 111,282 $ 2,463,309 $
Jun 30, 2013 29,214 311,318 252,507 117,158 327,719 73,751 354,725 725,586 19,384 706,202 81,562 14,574 48,057 9,335 1,951 111,421 $ 2,439,494 $
Mar 31, 2013 45,524 257,635 218,343 114,058 360,382 70,609 365,744 728,886 20,780 708,106 74,208 14,541 48,067 7,949 2,082 102,101 $ 2,389,349 $
Dec 31, 2012 53,723 121,814 296,296 119,017 375,045 74,983 371,152 733,796 21,936 711,860 60,933 14,519 48,175 7,614 2,235 101,775 $ 2,359,141 $
Sep 30, 2012 53,343 104,344 281,991 133,526 367,090 79,963 365,901 721,947 22,824 699,123 62,989 14,271 48,178 7,080 2,641 100,844 $ 2,321,284
$ 1,281,102 218,728 53,741 30,436 87,334 60,785 212,283 48,858 263,372 2,256,639
$ 1,202,950 258,962 56,631 30,385 84,208 64,385 211,432 55,090 266,212 2,230,255
$ 1,202,507 248,245 58,835 27,200 63,737 61,989 193,089 58,300 268,361 2,182,263
$ 1,193,593 240,103 55,367 26,636 61,262 70,656 195,240 63,191 249,024 2,155,072
$ 1,139,611 257,218 55,474 22,255 71,471 73,462 203,042 57,918 241,140 2,121,591
6 (16) (5) 4 (6) (11) (1) 1
12 (15) (3) 37 22 (17) 5 (16) 9 6
11,158 4,105 93,555 112,135 390 (21) (14,652) 206,670 $ 2,463,309
11,458 4,105 93,416 114,216 136 (21) (14,071) 209,239 $ 2,439,494
9,958 4,105 93,161 109,402 3,491 (21) (13,010) 207,086 $ 2,389,349
9,058 4,105 94,604 104,223 4,102 (21) (12,002) 204,069 $ 2,359,141
9,058 4,105 94,431 99,888 4,426 (38) (12,177) 199,693 $ 2,321,284
(3) (2) 187 (4) (1) 1
23 (1) 12 (91) 45 (20) 3 6
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CONDENSED AVERAGE BALANCE SHEETS AND ANNUALIZED YIELDS

(in millions, except rates) QUARTERLY TRENDS AVERAGE BALANCES ASSETS Deposits with banks Federal funds sold and securities purchased under resale agreements Securities borrowed Trading assets - debt instruments Securities Loans Other assets (a) Total interest-earning assets Trading assets - equity instruments Trading assets - derivative receivables All other noninterest-earning assets TOTAL ASSETS LIABILITIES Interest-bearing deposits Federal funds purchased and securities loaned or sold under repurchase agreements Commercial paper Trading liabilities - debt, short-term and other liabilities (b) Beneficial interests issued by consolidated VIEs Long-term debt Total interest-bearing liabilities Noninterest-bearing deposits Trading liabilities - equity instruments Trading liabilities - derivative payables All other noninterest-bearing liabilities TOTAL LIABILITIES Preferred stock Common stockholders' equity TOTAL STOCKHOLDERS' EQUITY TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY AVERAGE RATES (c) INTEREST-EARNING ASSETS Deposits with banks Federal funds sold and securities purchased under resale agreements Securities borrowed (d) Trading assets - debt instruments Securities Loans Other assets (a)(e) Total interest-earning assets INTEREST-BEARING LIABILITIES Interest-bearing deposits Federal funds purchased and securities loaned or sold under repurchase agreements Commercial paper Trading liabilities - debt, short-term and other liabilities (b)(d) Beneficial interests issued by consolidated VIEs Long-term debt Total interest-bearing liabilities INTEREST RATE SPREAD NET YIELD ON INTEREST-EARNING ASSETS (a) (b) (c) (d) (e) 3Q13 $ 321,271 $ 2Q13 265,821 $ 1Q13 156,988 $ 4Q12 124,832 $ 3Q12 126,605 3Q13 Change 2Q13 3Q12 21 % (1) 4 (12) (2) (1) (2) 1 (11) (5) (5) 3 (12) (2) 6 (7) (2) (1) 7 (4) (1) (1) 8 154 % (2) (11) (7) 23 9 (16) (7) 6 12 (8) 1 12 (7) 15 8 3 (10) (19) 8 6 44 6 7 6 $ NINE MONTHS ENDED SEPTEMBER 30, 2013 Change 2013 2012 2012 248,628 $ 116,325 114 % (2) (11) 2 (1) 1 23 7 (16) 5 8 2 7 1 (7) 7 6 4 (2) (15) 8 5 37 8 9 5
229,730 119,950 212,228 351,648 723,538 39,048 1,997,413 103,347 71,657 217,352 $ 2,389,769 $ 832,192
231,972 115,194 240,952 359,108 727,499 39,920 1,980,466 116,333 75,310 227,861 $ 2,399,970 $ 810,096
231,421 120,337 250,502 368,673 725,124 43,039 1,896,084 120,192 74,918 230,836 $ 2,322,030 $ 787,870
252,529 128,329 244,346 365,883 725,610 33,004 1,874,533 119,598 77,974 238,684 $ 2,310,789 $ 758,645
233,576 134,980 228,120 351,733 723,077 31,689 1,829,780 103,279 85,303 233,395 $ 2,251,757 $ 742,570
231,035 118,492 234,420 359,748 725,381 40,655 1,958,359 113,229 73,950 225,300 $ 2,370,838 $ 810,215
235,393 132,493 230,826 362,341 721,301 32,954 1,831,633 113,607 88,353 225,357 $ 2,258,950 $ 748,564
231,938 53,287 213,261 52,522 265,396 1,648,596 364,495 14,696 63,378 89,419 2,180,584 11,953 197,232 209,185 $ 2,389,769
264,240 54,391 201,668 56,742 270,796 1,657,933 363,537 13,737 66,246 90,139 2,191,592 11,095 197,283 208,378 $ 2,399,970
250,827 53,084 184,824 60,341 254,326 1,591,272 355,913 13,203 68,683 88,618 2,117,689 9,608 194,733 204,341 $ 2,322,030
260,415 53,401 181,089 58,973 245,343 1,557,866 374,893 14,264 72,049 90,684 2,109,756 9,058 191,975 201,033 $ 2,310,789
251,071 52,523 189,981 56,609 231,723 1,524,477 355,478 16,244 77,851 82,839 2,056,889 8,278 186,590 194,868 $ 2,251,757
248,932 53,588 200,022 56,506 263,547 1,632,810 361,346 13,884 66,083 89,396 2,163,519 10,894 196,425 207,319 $ 2,370,838
244,582 49,901 197,609 60,657 245,770 1,547,083 348,033 14,141 77,543 82,398 2,069,198 7,961 181,791 189,752 $ 2,258,950
0.33 % 0.84 (0.12) 3.78 2.40 4.57 1.54 2.65
0.34 % 0.85 (0.11) 3.69 2.10 4.62 1.48 2.70
0.42 % 0.90 (0.02) 3.72 2.19 4.78 0.75 2.91
0.43 % 0.91 (0.03) 3.81 2.04 4.83 1.01 2.93
0.41 % 0.97 (0.05) 3.81 2.11 4.98 0.55 3.01
0.35 % 0.86 (0.08) 3.73 2.23 4.66 1.24 2.75
0.48 % 1.06 0.01 4.02 2.38 5.02 0.71 3.14
0.25 0.19 0.21 0.72 0.85 1.85 0.57 2.08 % 2.18 %
0.27 0.24 0.21 0.65 0.89 1.87 0.59 2.11 % 2.20 %
0.28 0.27 0.20 0.72 0.90 2.06 0.64 2.27 % 2.37 %
0.30 0.22 0.19 0.63 0.98 2.17 0.64 2.29 % 2.40 %
0.34 0.22 0.19 0.50 1.09 2.51 0.69 2.32 % 2.43 %
0.26 0.23 0.21 0.69 0.88 1.92 0.60 2.15 % 2.25 %
0.37 0.21 0.17 0.59 1.11 2.57 0.75 2.39 % 2.51 %
Includes margin loans. Includes brokerage customer payables. Interest includes the effect of related hedging derivatives. Taxable-equivalent amounts are used where applicable. Negative yield is the result of increased client-driven demand for certain securities combined with the impact of low interest rates; the offset of this matched book activity is reflected as lower net interest expense reported within trading liabilities - debt, short-term and other liabilities. Effective April 1, 2013, the net results previously recorded in net interest income for the Firm's hedges of investments in non-U.S. subsidiaries have been reclassified to other income. The effect of this reclassification on the total interest-earning assets rate and net yield on interest-earning assets was not material; and therefore, prior period amounts have not been revised.
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CORE NET INTEREST INCOME

(in millions, except rates) In addition to reviewing JPMorgan Chase's net interest income on a managed basis, management also reviews core net interest income to assess the performance of its core lending, investing (including asset-liability management) and deposit-raising activities (which excludes the impact of Corporate & Investment Bank's ("CIB") market-based activities). The core data presented below are non-GAAP financial measures due to the exclusion of CIB's market-based net interest income and the related assets. Management believes this exclusion provides investors and analysts a more meaningful measure by which to analyze the non-market-related business trends of the Firm and provides a comparable measure to other financial institutions that are primarily focused on core lending, investing and deposit-raising activities. For a further discussion of these measures, see Explanation and Reconciliation of the Firm's Use of Non-GAAP Financial Measures on pages 76-77 of JPMorgan Chase's Annual Report on Form 10-K for the year ended December 31, 2012 (the "2012 Annual Report"). QUARTERLY TRENDS 3Q13 CORE NET INTEREST INCOME DATA (a) Net interest income - managed basis (b)(c) Less: Market-based net interest income Core net interest income (b) Average interest-earning assets Less: Average market-based earning assets Core average interest-earning assets Net interest yield on interest-earning assets managed basis Net interest yield on market-based activities Core net interest yield on core average interest-earning assets $ $ 10,956 1,109 9,847 $ $ 2Q13 10,869 1,345 9,524 $ $ 1Q13 11,095 1,432 9,663 $ $ 4Q12 11,299 1,487 9,812 $ $ 3Q12 11,176 1,386 9,790 3Q13 Change 2Q13 3Q12 1 (18) 3 1 (4) 2 % (2) (20) 1 9 (1) 13 % $ $ NINE MONTHS ENDED SEPTEMBER 30, 2013 Change 2013 2012 2012 32,920 3,886 29,034 $ $ 34,354 4,300 30,054 (4) (10) (3) 7 1 9 %
$ 1,997,413 493,780 $ 1,503,633
$ 1,980,466 512,631 $ 1,467,835
$ 1,896,084 508,941 $ 1,387,143
$ 1,874,533 503,825 $ 1,370,708
$ 1,829,780 497,469 $ 1,332,311
$ 1,958,359 505,062 $ 1,453,297
$ 1,831,633 497,832 $ 1,333,801
2.18 0.89 2.60
2.20 1.05 2.60
2.37 1.14 2.83
2.40 1.17 2.85
2.43 1.11 2.92
2.25 1.03 2.67
2.51 1.15 3.01
(a) (b) (c)
Includes core lending, investing and deposit-raising activities on a managed basis across the Firm's business segments and Corporate/Private Equity; excludes the market-based activities within the CIB. Interest includes the effect of related hedging derivatives. Taxable-equivalent amounts are used where applicable. For a reconciliation of net interest income on a reported and managed basis, see Reconciliation from Reported to Managed Summary on page 8.
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RECONCILIATION FROM REPORTED TO MANAGED SUMMARY

(in millions, except ratios) The Firm prepares its consolidated financial statements using accounting principles generally accepted in the U.S. ("U.S. GAAP"). That presentation, which is referred to as "reported basis, provides the reader with an understanding of the Firm's results that can be tracked consistently from year to year and enables a comparison of the Firm's performance with other companies' U.S. GAAP financial statements. In addition to analyzing the Firm's results on a reported basis, management reviews the Firm's results and the results of the lines of business on a managed basis, which is a non-GAAP financial measure. For additional information on managed basis, refer to the notes on Non-GAAP Financial Measures on page 42. The following summary table provides a reconciliation from the Firm's reported U.S. GAAP results to managed basis. QUARTERLY TRENDS 3Q13 OTHER INCOME Other income - reported Fully taxable-equivalent adjustments (a) Other income - managed TOTAL NONINTEREST REVENUE Total noninterest revenue - reported Fully taxable-equivalent adjustments (a) Total noninterest revenue - managed NET INTEREST INCOME Net interest income - reported Fully taxable-equivalent adjustments (a) Net interest income - managed TOTAL NET REVENUE Total net revenue - reported Fully taxable-equivalent adjustments (a) Total net revenue - managed PRE-PROVISION PROFIT/(LOSS) Pre-provision profit - reported Fully taxable-equivalent adjustments (a) Pre-provision profit - managed INCOME BEFORE INCOME TAX EXPENSE Income before income tax expense - reported Fully taxable-equivalent adjustments (a) Income before income tax expense - managed INCOME TAX EXPENSE Income tax expense - reported Fully taxable-equivalent adjustments (a) Income tax expense - managed OVERHEAD RATIO Overhead ratio - reported Overhead ratio - managed $ $ 602 582 1,184 $ $ 2Q13 226 582 808 $ $ 1Q13 536 564 1,100 $ $ 4Q12 721 548 1,269 $ $ 3Q12 1,519 517 2,036 3Q13 Change 2Q13 3Q12 166 % 47 (60) % 13 (42) $ $ NINE MONTHS ENDED SEPTEMBER 30, 2013 Change 2013 2012 2012 1,364 1,728 3,092 $ $ 3,537 1,568 5,105 (61) % 10 (39)
$ $
12,342 582 12,924
$ $
14,507 582 15,089
$ $
14,189 564 14,753
$ $
12,531 548 13,079
$ $
14,170 517 14,687
(15) (14)
(13) 13 (12)
$ $
41,038 1,728 42,766
$ $
39,590 1,568 41,158
4 10 4
$ $
10,775 181 10,956
$ $
10,704 165 10,869
$ $
10,933 162 11,095
$ $
11,122 177 11,299
$ $
10,976 200 11,176
1 10 1
(2) (10) (2)
$ $
32,412 508 32,920
$ $
33,788 566 34,354
(4) (10) (4)
$ $
23,117 763 23,880
$ $
25,211 747 25,958
$ $
25,122 726 25,848
$ $
23,653 725 24,378
$ $
25,146 717 25,863
(8) 2 (8)
(8) 6 (8)
$ $
73,450 2,236 75,686
$ $
73,378 2,134 75,512
5 -
$ $
(509) 763 254
$ $
9,345 747 10,092
$ $
9,699 726 10,425
$ $
7,606 725 8,331
$ $
9,775 717 10,492
NM 2 (97)
NM 6 (98)
$ $
18,535 2,236 20,771
$ $
24,696 2,134 26,830
(25) 5 (23)
$ $
34 763 797
$ $
9,298 747 10,045
$ $
9,082 726 9,808
$ $
6,950 725 7,675
$ $
7,986 717 8,703
(100) 2 (92)
(100) 6 (91)
$ $
18,414 2,236 20,650
$ $
21,967 2,134 24,101
(16) 5 (14)
$ $
414 763 1,177
$ $
2,802 747 3,549
$ $
2,553 726 3,279
$ $
1,258 725 1,983
$ $
2,278 717 2,995
(85) 2 (67)
(82) 6 (61)
$ $
5,769 2,236 8,005
$ $
6,375 2,134 8,509
(10) 5 (6)
102 % 99
63 % 61
61 % 60
68 % 66
61 % 59
75 % 73
66 % 64
(a)
Predominantly recognized in the Corporate & Investment Bank and Commercial Banking business segments and Corporate/Private Equity.
Page 8
LINE OF BUSINESS FINANCIAL HIGHLIGHTS - MANAGED BASIS

(in millions)
QUARTERLY TRENDS 3Q13 TOTAL NET REVENUE (fully taxable-equivalent ("FTE")) (a) Consumer & Community Banking Corporate & Investment Bank Commercial Banking Asset Management Corporate/Private Equity TOTAL NET REVENUE TOTAL NONINTEREST EXPENSE (a) Consumer & Community Banking Corporate & Investment Bank Commercial Banking Asset Management Corporate/Private Equity TOTAL NONINTEREST EXPENSE PRE-PROVISION PROFIT/(LOSS) (a) Consumer & Community Banking Corporate & Investment Bank Commercial Banking Asset Management Corporate/Private Equity PRE-PROVISION PROFIT PROVISION FOR CREDIT LOSSES Consumer & Community Banking Corporate & Investment Bank Commercial Banking Asset Management Corporate/Private Equity PROVISION FOR CREDIT LOSSES NET INCOME/(LOSS) (a) Consumer & Community Banking Corporate & Investment Bank Commercial Banking Asset Management Corporate/Private Equity TOTAL NET INCOME/(LOSS) $ 11,082 8,189 1,725 2,763 121 23,880 $ 2Q13 12,015 9,876 1,728 2,725 (386) 25,958 $ 1Q13 11,615 10,140 1,673 2,653 (233) 25,848 $ 4Q12 12,362 7,642 1,745 2,753 (124) 24,378 $ 3Q12 12,720 8,360 1,732 2,459 592 25,863 3Q13 Change 2Q13 3Q12 (8) % (17) 1 NM (8) (13) % (2) 12 (80) (8) $
NINE MONTHS ENDED SEPTEMBER 30, 2013 Change 2013 2012 2012 34,712 28,205 5,126 8,141 (498) 75,686 $ 37,522 26,684 5,080 7,193 (967) 75,512 (7) % 6 1 13 49 -
6,867 4,999 661 2,003 9,096 23,626
6,864 5,742 652 1,892 716 15,866
6,790 6,111 644 1,876 2 15,423
7,989 4,996 599 1,943 520 16,047
6,956 5,350 601 1,731 733 15,371
(13) 1 6 NM 49
(1) (7) 10 16 NM 54
20,521 16,852 1,957 5,771 9,814 54,915
20,838 16,854 1,790 5,161 4,039 48,682
(2) 9 12 143 13
4,215 3,190 1,064 760 (8,975) 254
5,151 4,134 1,076 833 (1,102) 10,092
4,825 4,029 1,029 777 (235) 10,425
4,373 2,646 1,146 810 (644) 8,331
5,764 3,010 1,131 728 (141) 10,492
(18) (23) (1) (9) NM (97)
(27) 6 (6) 4 NM (98)
14,191 11,353 3,169 2,370 (10,312) 20,771
16,684 9,830 3,290 2,032 (5,006) 26,830
(15) 15 (4) 17 (106) (23)
(267) (218) (41) (17) (543)
(19) (6) 44 23 5 47
549 11 39 21 (3) 617
1,091 (445) (3) 19 (6) 656
1,862 (60) (16) 14 (11) 1,789
NM NM NM NM NM NM
NM (263) (156) NM (55) NM
263 (213) 42 44 (15) 121
2,683 (34) 44 67 (31) 2,729
(90) NM (5) (34) 52 (96)
2,702 2,240 665 476 (6,463) (380)
3,089 2,838 621 500 (552) 6,496
2,586 2,610 596 487 250 6,529
1,989 2,005 692 483 523 5,692
2,355 1,992 690 443 228 5,708
(13) (21) 7 (5) NM NM
15 12 (4) 7 NM NM
8,377 7,688 1,882 1,463 (6,765) 12,645
8,562 6,401 1,954 1,220 (2,545) 15,592
(2) 20 (4) 20 (166) (19)
(a)
In the second quarter of 2013, the 2012 data for certain income statement line items were revised to reflect the transfer of certain functions and staff from Corporate/Private Equity to CCB, effective January 1, 2013. For further information on this transfer, see CCB on page 10, Consumer & Business Banking on page 12 and Corporate/Private Equity on page 30.
Page 9
CONSUMER & COMMUNITY BANKING

FINANCIAL HIGHLIGHTS (in millions, except ratio and headcount data)
QUARTERLY TRENDS 3Q13 INCOME STATEMENT (a) REVENUE Lending- and deposit-related fees Asset management, administration and commissions Mortgage fees and related income Card income All other income Noninterest revenue Net interest income TOTAL NET REVENUE Provision for credit losses NONINTEREST EXPENSE Compensation expense Noncompensation expense Amortization of intangibles TOTAL NONINTEREST EXPENSE Income before income tax expense Income tax expense NET INCOME FINANCIAL RATIOS ROE Overhead ratio SELECTED BALANCE SHEET DATA (period-end) (a) Total assets Loans: Loans retained Loans held-for-sale and loans at fair value (b) Total loans Deposits Equity SELECTED BALANCE SHEET DATA (average) (a) Total assets Loans: Loans retained Loans held-for-sale and loans at fair value (b) Total loans Deposits Equity Headcount (a) 2Q13 1Q13 4Q12 3Q12 3Q13 Change 2Q13 3Q12
NINE MONTHS ENDED SEPTEMBER 30, 2013 Change 2013 2012 2012
780 515 839 1,460 367 3,961 7,121 11,082 (267)
727 561 1,819 1,445 369 4,921 7,094 12,015 (19)
723 533 1,450 1,362 338 4,406 7,209 11,615 549
789 495 2,031 1,448 350 5,113 7,249 12,362 1,091
797 523 2,376 1,376 353 5,425 7,295 12,720 1,862
7 % (8) (54) 1 (1) (20) (8) NM
(2) % (2) (65) 6 4 (27) (2) (13) NM
2,230 1,609 4,108 4,267 1,074 13,288 21,424 34,712 263
2,332 1,598 6,649 3,998 1,123 15,700 21,822 37,522 2,683
(4) % 1 (38) 7 (4) (15) (2) (7) (90)
2,949 3,817 101 6,867 4,482 1,780 2,702
2,966 3,789 109 6,864 5,170 2,081 3,089
3,006 3,676 108 6,790 4,276 1,690 2,586
2,852 4,790 347 7,989 3,282 1,293 1,989
2,947 3,872 137 6,956 3,902 1,547 2,355
(1) 1 (7) (13) (14) (13)
(1) (26) (1) 15 15 15
8,921 11,282 318 20,521 13,928 5,551 8,377
8,780 11,630 428 20,838 14,001 5,439 8,562
2 (3) (26) (2) (1) 2 (2)
23 % 62
27 % 57
23 % 58
18 % 65
22 % 55
24 59
27 56
451,166 390,345 10,758 401,103 458,867 46,000
460,642 392,067 15,274 407,341 456,814 46,000
458,902 393,575 16,277 409,852 457,176 46,000
467,282 402,963 18,801 421,764 438,517 43,000
463,602 402,431 15,356 417,787 422,101 43,000
(2) (30) (2) -
(3) (3) (30) (4) 9 7
451,166 390,345 10,758 401,103 458,867 46,000
463,602 402,431 15,356 417,787 422,101 43,000
(3) (3) (30) (4) 9 7
453,881 390,865 14,127 404,992 456,940 46,000 156,064
457,644 392,935 18,199 411,134 453,586 46,000 157,886
463,527 397,118 21,181 418,299 441,335 46,000 161,123
462,690 400,798 19,104 419,902 426,038 43,000 164,391
463,812 404,772 17,988 422,760 416,686 43,000 165,179
(1) (1) (22) (1) 1 (1)
(2) (3) (21) (4) 10 7 (6)
458,315 393,616 17,810 411,426 450,677 46,000 156,064
469,303 411,165 17,637 428,802 409,889 43,000 165,179
(2) (4) 1 (4) 10 7 (6)
(a) (b)
In the second quarter of 2013, the 2012 data for certain income statement (predominantly net interest income, compensation and noncompensation expense) and balance sheet (predominantly total assets) line items, as well as headcount were revised to reflect the transfer of certain technology and operations, as well as real estate-related functions and staff, from Corporate/Private Equity to CCB, effective January 1, 2013. Predominantly consists of prime mortgages originated with the intent to sell that are accounted for at fair value and classified as trading assets on the Consolidated Balance Sheets and Condensed Average Balance Sheets.
Page 10

FINANCIAL HIGHLIGHTS, CONTINUED (in millions, except ratio data and where otherwise noted) QUARTERLY TRENDS 3Q13 CREDIT DATA AND QUALITY STATISTICS Net charge-offs (a) Nonaccrual loans: Nonaccrual loans retained Nonaccrual loans held-for-sale and loans at fair value Total nonaccrual loans (b)(c)(d) Nonperforming assets (b)(c)(d) Allowance for loan losses Net charge-off rate (a)(e) Net charge-off rate, excluding purchased credit-impaired ("PCI") loans (a)(e) Allowance for loan losses to period-end loans retained Allowance for loan losses to period-end loans retained, excluding PCI loans (f) Allowance for loan losses to nonaccrual loans retained, excluding credit card (b)(f) Nonaccrual loans to total period-end loans, excluding credit card Nonaccrual loans to total period-end loans, excluding credit card and PCI loans (b) BUSINESS METRICS Number of: Branches ATMs Active online customers (in thousands) Active mobile customers (in thousands) $ 1,330 8,029 40 8,069 8,713 13,500 1.35 % 1.57 3.46 2.54 55 2.91 3.63 $ 2Q13 1,481 8,540 41 8,581 9,212 15,095 1.51 % 1.77 3.85 2.80 58 3.03 3.79 $ 1Q13 1,699 8,996 42 9,038 9,708 16,599 1.74 % 2.04 4.22 3.25 65 3.14 3.94 $ 4Q12 1,791 9,114 39 9,153 9,830 17,752 1.78 % 2.09 4.41 3.51 72 3.12 3.91 $ 3Q12 2,817 9,398 89 9,487 10,185 18,454 2.77 % 3.27 4.59 3.73 77 3.23 4.09 3Q13 Change 2Q13 3Q12 (10) % (6) (2) (6) (5) (11) (53) % (15) (55) (15) (14) (27) $ NINE MONTHS ENDED SEPTEMBER 30, 2013 Change 2013 2012 2012 4,510 8,029 40 8,069 8,713 13,500 1.53 % 1.79 3.46 2.54 55 2.91 3.63 $ 7,489 9,398 89 9,487 10,185 18,454 2.43 % 2.88 4.59 3.73 77 3.23 4.09 (40) % (15) (55) (15) (14) (27)
5,652 19,171 32,916 14,993
5,657 19,075 32,245 14,013
5,632 18,830 32,281 13,263
5,614 18,699 31,114 12,359
5,596 18,485 30,765 11,573
1 2 7
1 4 7 30
5,652 19,171 32,916 14,993
5,596 18,485 30,765 11,573
1 4 7 30
(a) (b) (c) (d) (e) (f)
Net charge-offs and the net charge-off rate for the three months ended September 30, 2012 included $880 million of charge-offs recorded in accordance with regulatory guidance requiring loans discharged under Chapter 7 bankruptcy and not reaffirmed by the borrower (Chapter 7 loans) to be charged off to the net realizable value of the collateral and to be considered nonaccrual, regardless of their delinquency status. Excluding these charge-offs, net charge-offs for the three months ended September 30, 2012 would have been $1.9 billion, and excluding these charge-offs and PCI loans for the same period, the net charge-off rate would have been 2.25%. For further information, see Consumer Credit Portfolio on pages 140-142 of JPMorgan Chase's 2012 Annual Report. Excludes PCI loans. Because the Firm is recognizing interest income on each pool of PCI loans, they are all considered to be performing. Certain mortgage loans originated with the intent to sell are classified as trading assets on the Consolidated Balance Sheets and Condensed Average Balance Sheets. At September 30, 2013, June 30, 2013, March 31, 2013, December 31, 2012 and September 30, 2012, nonperforming assets excluded: (1) mortgage loans insured by U.S. government agencies of $8.9 billion, $10.1 billion, $10.9 billion, $10.6 billion and $11.0 billion, respectively, that are 90 or more days past due; (2) real estate owned insured by U.S. government agencies of $1.9 billion, $1.8 billion, $1.7 billion, $1.6 billion and $1.5 billion, respectively; and (3) student loans insured by U.S. government agencies under the Federal Family Education Loan Program (FFELP) of $456 million, $488 million, $523 million, $525 million and $536 million, respectively, that are 90 or more days past due. These amounts were excluded from nonaccrual loans as reimbursement of insured amounts is proceeding normally. Loans held-for-sale and loans accounted for at fair value were excluded when calculating the net charge-off rate. The allowance for loan losses for PCI loans was $5.0 billion at September 30, 2013 and $5.7 billion at June 30, 2013, March 31, 2013, December 31, 2012 and September 30, 2012; these amounts were also excluded from the applicable ratios.
Page 11

FINANCIAL HIGHLIGHTS, CONTINUED (in millions, except ratio data and where otherwise noted) QUARTERLY TRENDS 3Q13 2Q13 $ 717 454 378 124 1,673 2,614 4,287 74 3,042 1,171 698 25 % 71 70 11,000 $ 1Q13 711 426 349 119 1,605 2,572 4,177 61 3,041 1,075 641 24 % 73 72 11,000 $ 4Q12 771 404 351 123 1,649 2,615 4,264 110 2,947 1,207 731 32 % 69 68 9,000 $ 3Q12 785 407 343 122 1,657 2,665 4,322 107 2,913 1,302 778 34 % 67 66 9,000 3Q13 Change 2Q13 3Q12 7 % 2 2 2 4 3 3 41 9 9 (2) % 14 12 4 5 1 2 (3) 5 (2) (2) $ NINE MONTHS ENDED SEPTEMBER 30, 2013 Change 2013 2012 2012 2,198 1,345 1,111 370 5,024 7,870 12,894 239 9,133 3,522 2,101 26 % 71 70 11,000 $ 2,297 1,234 1,002 375 4,908 7,979 12,887 201 8,543 4,143 2,472 37 % 66 65 9,000 (4) % 9 11 (1) 2 (1) 19 7 (15) (15)
CONSUMER & BUSINESS BANKING (a)

Lending- and deposit-related fees Asset management, administration and commissions Card income All other income Noninterest revenue Net interest income Total net revenue Provision for credit losses Noninterest expense Income before income tax expense Net income ROE Overhead ratio Overhead ratio, excluding core deposit intangibles (b) Equity (period-end and average) BUSINESS METRICS Business banking origination volume Period-end loans Period-end deposits: (a) Checking Savings Time and other Total period-end deposits Average loans Average deposits: (a) Checking Savings Time and other Total average deposits Deposit margin Average assets (a) CREDIT DATA AND QUALITY STATISTICS Net charge-offs Net charge-off rate Allowance for loan losses Nonperforming assets RETAIL BRANCH BUSINESS METRICS Investment sales volume Client investment assets % managed accounts Number of: Chase Private Client locations Personal bankers Sales specialists Client advisors Chase Private Clients Accounts (in thousands) (c) (a) (b) $ 770 465 384 127 1,746 2,684 4,430 104 3,050 1,276 762 27 % 69 68 11,000
22
22
1,299 19,029 180,858 234,315 28,277 443,450 18,884 177,392 231,982 28,728 438,102 2.32 % 37,308
1,317 18,950 179,801 228,879 29,255 437,935 18,758 175,496 227,453 29,840 432,789 2.31 % 37,250
1,234 18,739 180,326 227,162 30,431 437,919 18,711 168,697 221,394 31,029 421,120 2.36 % 36,302
1,530 18,883 170,354 216,422 31,753 418,529 18,525 160,332 211,515 32,232 404,079 2.44 % 35,530
1,685 18,568 159,560 208,272 32,783 400,615 18,279 154,015 206,298 33,472 393,785 2.56 % 34,128
(1) 1 2 (3) 1 1 1 2 (4) 1 -
(23) 2 13 13 (14) 11 3 15 12 (14) 11 9
3,850 19,029 180,858 234,315 28,277 443,450 18,785 173,894 226,982 29,856 430,732 2.33 % 36,956
5,012 18,568 159,560 208,272 32,783 400,615 17,961 151,104 202,077 34,890 388,071 2.62 % 34,062
(23) 2 13 13 (14) 11 5 15 12 (14) 11 8
$ $
100 2.10 % 701 419
$ $
74 1.58 % 697 461
$ $
61 1.32 % 698 465
$ $
110 2.36 % 698 488
$ $
107 2.33 % 698 532
35 1 (9)
(7) (21)
$ $
235 1.67 % 701 419
$ $
301 2.24 % 698 532
(22) (21)
8,172 178,989 34 % 1,948 22,961 6,269 3,028 192,358 29,301
9,463 171,925 33 % 1,691 22,825 6,326 3,024 165,331 28,937
9,220 168,527 31 % 1,392 23,130 6,102 2,998 134,206 28,530
6,987 158,502 29 % 1,218 23,674 6,076 2,963 105,700 28,073
6,280 154,637 28 % 960 23,622 6,205 3,034 75,766 27,840
(14) 4
30 16
26,855 178,989 34 % 1,948 22,961 6,269 3,028 192,358 29,301
19,049 154,637 28 % 960 23,622 6,205 3,034 75,766 27,840
41 16
15 1 (1) 16 1
103 (3) 1 154 5
103 (3) 1 154 5
(c)
In the second quarter of 2013, the 2012 data for certain income statement and balance sheet line items were revised to reflect the transfer of certain functions and staff, as well as headcount, from Corporate/Private Equity to CCB, effective January 1, 2013. For further information on this transfer, see CCB on page 10. Consumer & Business Banking (CBB) uses the overhead ratio (excluding the amortization of core deposit intangibles ("CDI")), a non-GAAP financial measure, to evaluate the underlying expense trends of the business. Including CDI amortization expense in the overhead ratio calculation would result in a higher overhead ratio in the earlier years and a lower overhead ratio in later years; this method would therefore result in an improving overhead ratio over time, all things remaining equal. This non-GAAP ratio excluded CBB's CDI amortization expense related to prior business combination transactions of $41 million, $41 million, $41 million, $48 million and $51 million for the three months ended September 30, 2013, June 30, 2013, March 31, 2013, December 31, 2012 and September 30, 2012, respectively, and $123 million and $152 million for the nine months ended September 30, 2013 and 2012, respectively. Includes checking accounts and Chase LiquidSM cards. Page 12

FINANCIAL HIGHLIGHTS, CONTINUED (in millions, except ratio data) QUARTERLY TRENDS 3Q13 2Q13 $ 1,819 101 1,920 1,138 3,058 (657) 1,834 1,881 1,142 23 % 60 19,500 $ 1Q13 1,450 93 1,543 1,175 2,718 (198) 1,806 1,110 673 14 % 66 19,500 $ 4Q12 2,031 109 2,140 1,150 3,290 (269) 2,871 688 418 10 % 87 17,500 $ 3Q12 2,376 112 2,488 1,187 3,675 524 2,123 1,028 623 14 58 17,500 % 11 $ 3Q13 Change 2Q13 3Q12 (54) % (62) (54) (34) (59) 4 (38) (38) (65) % (66) (65) (4) (45) NM (11) 13 13 $ NINE MONTHS ENDED SEPTEMBER 30, 2013 Change 2013 2012 2012 4,108 232 4,340 3,456 7,796 (1,899) 5,540 4,155 2,520 17 % 71 19,500 $ 6,649 366 7,015 3,658 10,673 (221) 6,250 4,644 2,923 22 % 59 17,500 (38) % (37) (38) (6) (27) NM (11) (11) (14)
MORTGAGE BANKING
Mortgage fees and related income All other income Noninterest revenue Net interest income Total net revenue Provision for credit losses Noninterest expense Income before income tax expense Net income ROE Overhead ratio Equity (period-end and average) FUNCTIONAL RESULTS Mortgage Production Production revenue Production-related net interest & other income Production-related revenue, excluding repurchase losses Production expense (a) Income, excluding repurchase losses Repurchase losses Income before income tax expense Mortgage Servicing Loan servicing revenue Servicing-related net interest & other income Servicing-related revenue Changes in MSR asset fair value due to collection/realization of expected cash flows Default servicing expense Core servicing expense Income/(loss), excluding MSR risk management MSR risk management, including related net interest income/(expense) Income/(loss) before income tax expense/(benefit) Real Estate Portfolios Noninterest revenue Net interest income Total net revenue Provision for credit losses Noninterest expense Income before income tax expense Mortgage Banking income before income tax expense Mortgage Banking net income Overhead ratios Mortgage Production Mortgage Servicing Real Estate Portfolios $ 839 38 877 1,143 2,020 (1,044) 1,900 1,164 705 14 % 94 19,500
11
311 273 584 669 (85) 175 90
1,064 222 1,286 720 566 16 582
995 223 1,218 710 508 (81) 427
1,407 205 1,612 876 736 53 789
1,582 196 1,778 678 1,100 (13) 1,087
(71) 23 (55) (7) NM NM (85)
(80) 39 (67) (1) NM NM (92)
2,370 718 3,088 2,099 989 110 1,099
4,376 582 4,958 1,871 3,087 (325) 2,762
(46) 23 (38) 12 (68) NM (60)
817 99 916 (284) 623 235 (226) (180) (406)
945 110 1,055 (285) 475 240 55 78 133
936 100 1,036 (258) 497 240 41 (142) (101)
783 89 872 (254) 1,293 280 (955) 42 (913)
946 98 1,044 (290) 819 244 (309) 150 (159)
(14) (10) (13) 31 (2) NM NM NM
(14) 1 (12) 2 (24) (4) 27 NM (155)
2,698 309 3,007 (827) 1,595 715 (130) (244) (374)
2,989 318 3,307 (968) 2,414 753 (828) 574 (254)
(10) (3) (9) 15 (34) (5) 84 NM (47)
(113) 922 809 (1,046) 375 1,480 1,164 705
(34) 942 908 (662) 404 1,166 1,881 1,142
(17) 962 945 (202) 363 784 1,110 673
13 952 965 (283) 436 812 688 418
9 997 1,006 520 386 100 1,028 623
(232) (2) (11) (58) (7) 27 (38) (38)
NM (8) (20) NM (3) NM 13 13
(164) 2,826 2,662 (1,910) 1,142 3,430 4,155 2,520
30 3,097 3,127 (226) 1,217 2,136 4,644 2,923
NM (9) (15) NM (6) 61 (11) (14)
$ $
$ $
$ $
$ $
$ $
$ $
$ $
88 % 190 46
55 % 84 44
62 % 116 38
52 % 238 45
38 % 118 38
65 % 119 43
40 % 109 39
(a)
Includes provision for credit losses associated with Mortgage Production.
Page 13

FINANCIAL HIGHLIGHTS, CONTINUED (in millions, except ratio data and where otherwise noted) QUARTERLY TRENDS 3Q13 2Q13 1Q13 4Q12 3Q12 3Q13 Change 2Q13 3Q12 NINE MONTHS ENDED SEPTEMBER 30, 2013 Change 2013 2012 2012
MORTGAGE BANKING (continued)

SUPPLEMENTAL MORTGAGE FEES AND RELATED INCOME DETAILS Net production revenue: Production revenue Repurchase losses Net production revenue Net mortgage servicing revenue: Operating revenue: Loan servicing revenue Changes in MSR asset fair value due to collection/ realization of expected cash flows Total operating revenue Risk management: Changes in MSR asset fair value due to market interest rates and other (a) Other changes in MSR asset fair value due to other inputs and assumptions in model (b) Changes in derivative fair value and other Total risk management Total net mortgage servicing revenue Mortgage fees and related income MORTGAGE PRODUCTION AND MORTGAGE SERVICING SELECTED BALANCE SHEET DATA Period-end loans: Prime mortgage, including option ARMs (c) Loans held-for-sale and loans at fair value (d) Average loans: Prime mortgage, including option ARMs (c) Loans held-for-sale and loans at fair value (d) Average assets Repurchase liability (period-end) CREDIT DATA AND QUALITY STATISTICS Net charge-offs: Prime mortgage, including option ARMs Net charge-off rate: Prime mortgage, including option ARMs 30+ day delinquency rate (e) Nonperforming assets (f) BUSINESS METRICS (in billions) Mortgage origination volume by channel Retail Wholesale (g) Correspondent (g) Total mortgage origination volume (h) Mortgage application volume by channel Retail Wholesale (g) Correspondent (g) Total mortgage application volume (a) (b) (c) (d) (e) (f) (g) (h)
311 175 486
1,064 16 1,080
995 (81) 914
1,407 53 1,460
1,582 (13) 1,569
(71) % NM (55)
(80) % NM (69)
2,370 110 2,480
4,376 (325) 4,051
(46) % NM (39)
817 (284) 533
945 (285) 660
936 (258) 678
783 (254) 529
946 (290) 656
(14) (19)
(14) 2 (19)
2,698 (827) 1,871
2,989 (968) 2,021
(10) 15 (7)
80 (173) (87) (180) 353 839
1,072 (36) (957) 79 739 1,819
546 (237) (451) (142) 536 1,450
285 (69) (174) 42 571 2,031
(323) (5) 479 151 807 2,376
(93) (381) 91 NM (52) (54)
NM NM NM NM (56) (65)
1,698 (446) (1,495) (243) 1,628 4,108
(872) 23 1,426 577 2,598 6,649
NM NM NM NM (37) (38)
15,571 10,447 15,878 14,060 54,870 1,945
15,567 15,274 16,933 18,199 59,880 2,245
17,257 16,277 17,554 21,181 64,218 2,430
17,290 18,801 17,243 19,076 60,179 2,530
17,153 15,250 17,381 17,879 59,769 2,779
(32) (6) (23) (8) (13)
(9) (31) (9) (21) (8) (30)
15,571 10,447 16,782 17,787 59,622 1,945
17,153 15,250 17,366 17,068 59,722 2,779
(9) (31) (3) 4 (30)
2 0.05 % 3.16 670
5 0.12 % 3.46 707
4 0.09 % 3.04 643
14 0.32 % 3.05 638
4 0.09 % 3.10 700
(60)
(50)
11 0.09 % 3.16 670
5 0.04 % 3.10 700
120
(5)
(4)
(4)
$ $
17.7 22.8 40.5 20.7 19.7 40.4
$ $
23.3 0.1 25.6 49.0 36.8 28.2 65.0
$ $
26.2 0.1 26.4 52.7 34.7 0.2 25.6 60.5
$ $
26.4 0.1 24.7 51.2 36.7 0.2 28.8 65.7
$ $
25.5 21.8 47.3 44.7 0.2 28.3 73.2
(24) NM (11) (17) (44) (30) (38)
(31) 5 (14) (54) NM (30) (45)
$ $
67.2 0.2 74.8 142.2 92.2 0.2 73.5 165.9
$ $
75.0 0.2 54.4 129.6 127.8 0.5 71.7 200.0
(10) 38 10 (28) (60) 3 (17)
Represents both the impact of changes in estimated future prepayments due to changes in market interest rates, and the difference between actual and expected prepayments. Represents the aggregate impact of changes in model inputs and assumptions such as projected cash flows (e.g., cost to service), discount rates and changes in prepayments other than those attributable to changes in market interest rates (e.g., changes in prepayments due to changes in home prices). Predominantly represents prime mortgage loans repurchased from Government National Mortgage Association (Ginnie Mae) pools, which are insured by U.S. government agencies. Predominantly consists of prime mortgages originated with the intent to sell that are accounted for at fair value and classified as trading assets on the Consolidated Balance Sheets and Condensed Average Balance Sheets. At September 30, 2013, June 30, 2013, March 31, 2013, December 31, 2012 and September 30, 2012, excluded mortgage loans insured by U.S. government agencies of $10.0 billion,$11.2 billion, $11.9 billion, $11.8 billion and $12.1 billion, respectively, that are 30 or more days past due. These amounts were excluded as reimbursement of insured amounts is proceeding normally. At September 30, 2013, June 30, 2013, March 31, 2013, December 31, 2012 and September 30, 2012, nonperforming assets excluded: (1) mortgage loans insured by U.S. government agencies of $8.9 billion, $10.1 billion, $10.9 billion, $10.6 billion and $11.0 billion, respectively, that are 90 or more days past due; and (2) real estate owned insured by U.S. government agencies of $1.9 billion, $1.8 billion, $1.7 billion, $1.6 billion and $1.5 billion, respectively. These amounts were excluded from nonaccrual loans as reimbursement of insured amounts is proceeding normally. Includes rural housing loans sourced through brokers and correspondents, which are underwritten and closed with pre-funding loan approval from the U.S. Department of Agriculture Rural Development, which acts as the guarantor in the transaction. Firmwide mortgage origination volume was $44.2 billion, $52.0 billion, $55.1 billion, $53.7 billion and $49.6 billion for the three months ended September 30, 2013, June 30, 2013, March 31, 2013, December 31, 2012 and September 30, 2012, respectively, and $151.3 billion and $136.1 billion for the nine months ended September 30, 2013 and 2012, respectively.
Page 14

FINANCIAL HIGHLIGHTS, CONTINUED (in millions, except ratio data and where otherwise noted) QUARTERLY TRENDS 3Q13 2Q13 1Q13 4Q12 3Q12 3Q13 Change 2Q13 3Q12 NINE MONTHS ENDED SEPTEMBER 30, 2013 Change 2013 2012 2012

MORTGAGE PRODUCTION AND MORTGAGE SERVICING BUSINESS METRICS (in billions)(continued) Third-party mortgage loans serviced (period-end) Third-party mortgage loans serviced (average) MSR carrying value (period-end) Ratio of MSR carrying value (period-end) to third-party mortgage loans serviced (period-end) Ratio of annualized loan servicing-related revenue to third-party mortgage loans serviced (average) MSR revenue multiple (a) REAL ESTATE PORTFOLIOS BUSINESS METRICS Loans, excluding PCI loans Period-end loans owned: Home equity Prime mortgage, including option ARMs Subprime mortgage Other Total period-end loans owned Average loans owned: Home equity Prime mortgage, including option ARMs Subprime mortgage Other Total average loans owned PCI loans Period-end loans owned: Home equity Prime mortgage Subprime mortgage Option ARMs Total period-end loans owned Average loans owned: Home equity Prime mortgage Subprime mortgage Option ARMs Total average loans owned Total Real Estate Portfolios Period-end loans owned: Home equity Prime mortgage, including option ARMs Subprime mortgage Other Total period-end loans owned Average loans owned: Home equity Prime mortgage, including option ARMs Subprime mortgage Other Total average loans owned Average assets Home equity origination volume
(continued)
831.1 831.5 9.5 1.14 0.38 3.00x %
832.0 840.6 9.3 1.12 0.41 2.73x %
849.2 854.3 7.9 0.93 0.42 2.21x %
859.4 803.8 7.6 0.88 0.45 1.96x %
811.4 825.7 7.1 0.88 0.46 1.91x %
- % (1) 2
2 % 1 34
831.1 842.0 9.5 1.14 0.40 2.85x %
811.4 861.5 7.1 0.88 0.46 1.91x %
2 % (2) 34
$ $
59,825 47,958 7,376 568 115,727 61,005 46,177 7,529 579 115,290
$ $
62,326 44,003 7,703 589 114,621 63,593 43,007 7,840 597 115,037
$ $
64,798 41,997 8,003 604 115,402 66,133 41,808 8,140 619 116,700
$ $
67,385 41,316 8,255 633 117,589 68,466 41,393 8,413 643 118,915
$ $
69,686 41,404 8,552 653 120,295 71,620 41,628 8,774 665 122,687
(4) 9 (4) (4) 1 (4) 7 (4) (3) -
(14) 16 (14) (13) (4) (15) 11 (14) (13) (6)
$ $
59,825 47,958 7,376 568 115,727 63,558 43,680 7,834 598 115,670
$ $
69,686 41,404 8,552 653 120,295 74,087 42,620 9,126 686 126,519
(14) 16 (14) (13) (4) (14) 2 (14) (13) (9)
$ $
19,411 12,487 4,297 18,564 54,759 19,677 12,705 4,357 18,890 55,629
$ $
19,992 12,976 4,448 19,320 56,736 20,245 13,152 4,488 19,618 57,503
$ $
20,525 13,366 4,561 19,985 58,437 20,745 13,524 4,589 20,227 59,085
$ $
20,971 13,674 4,626 20,466 59,737 21,184 13,860 4,654 20,738 60,436
$ $
21,432 14,038 4,702 21,024 61,196 21,620 14,185 4,717 21,237 61,759
(3) (4) (3) (4) (3) (3) (3) (3) (4) (3)
(9) (11) (9) (12) (11) (9) (10) (8) (11) (10)
$ $
19,411 12,487 4,297 18,564 54,759 20,218 13,124 4,478 19,573 57,393
$ $
21,432 14,038 4,702 21,024 61,196 22,060 14,582 4,818 21,816 63,276
(9) (11) (9) (12) (11) (8) (10) (7) (10) (9)
$ $
79,236 79,009 11,673 568 170,486 80,682 77,772 11,886 579 170,919 163,001 580
$ $
82,318 76,299 12,151 589 171,357 83,838 75,777 12,328 597 172,540 163,593 499
$ $
85,323 75,348 12,564 604 173,839 86,878 75,559 12,729 619 175,785 166,373 402
$ $
88,356 75,456 12,881 633 177,326 89,650 75,991 13,067 643 179,351 169,375 373
$ $
91,118 76,466 13,254 653 181,491 93,240 77,050 13,491 665 184,446 173,613 375
(4) 4 (4) (4) (1) (4) 3 (4) (3) (1) 16
(13) 3 (12) (13) (6) (13) 1 (12) (13) (7) (6) 55
$ $
79,236 79,009 11,673 568 170,486 83,776 76,377 12,312 598 173,063 164,310 1,481
$ $
91,118 76,466 13,254 653 181,491 96,147 79,018 13,944 686 189,795 177,840 1,047
(13) 3 (12) (13) (6) (13) (3) (12) (13) (9) (8) 41
(a)
Represents the ratio of MSR carrying value (period-end) to third-party mortgage loans serviced (period-end) divided by the ratio of annualized loan servicing-related revenue to third-party mortgage loans serviced (average).
Page 15

FINANCIAL HIGHLIGHTS, CONTINUED (in millions, except ratio data)
QUARTERLY TRENDS 3Q13 2Q13 1Q13 4Q12 3Q12 3Q13 Change 2Q13 3Q12

REAL ESTATE PORTFOLIOS (continued) CREDIT DATA AND QUALITY STATISTICS Net charge-offs/(recoveries), excluding PCI loans (a) Home equity Prime mortgage, including option ARMs Subprime mortgage Other Total net charge-offs/(recoveries), excluding PCI loans Net charge-off/(recovery) rate, excluding PCI loans (a) Home equity Prime mortgage, including option ARMs Subprime mortgage Other Total net charge-off/(recovery) rate, excluding PCI loans Net charge-off/(recovery) rate - reported (a) Home equity Prime mortgage, including option ARMs Subprime mortgage Other Total net charge-off/(recovery) rate - reported
218 (11) (4) 1 204 1.42 % (0.09) (0.21) 0.69 0.70 1.07 % (0.06) (0.13) 0.69 0.47
236 16 33 3 288 1.49 % 0.15 1.69 2.02 1.00 1.13 % 0.08 1.07 2.02 0.67
333 44 67 4 448 2.04 % 0.43 3.34 2.62 1.56 1.55 % 0.24 2.13 2.62 1.03
257 66 92 2 417 1.49 % 0.63 4.35 1.24 1.40 1.14 % 0.35 2.80 1.24 0.92
1,120 143 152 5 1,420 6.22 % 1.37 6.89 2.99 4.60 4.78 % 0.74 4.48 2.99 3.06
(8) % NM NM (67) (29)
(81) % NM NM (80) (86)
787 49 96 8 940 1.66 % 0.15 1.64 1.79 1.09 1.26 % 0.09 1.04 1.79 0.73
2,128 388 394 14 2,924 3.84 % 1.22 5.77 2.73 3.09 2.96 % 0.66 3.77 2.73 2.06
(63) % (87) (76) (43) (68)
30+ day delinquency rate, excluding PCI loans (b) Allowance for loan losses, excluding PCI loans Allowance for PCI loans Allowance for loan losses Nonperforming assets (c) Allowance for loan losses to period-end loans retained Allowance for loan losses to period-end loans retained, excluding PCI loans
$ $
3.81 % 2,768 4,961 7,729 7,385 4.53 % 2.39
$ $
4.17 % 3,268 5,711 8,979 7,801 5.24 % 2.85
$ $
4.61 % 4,218 5,711 9,929 8,349 5.71 % 3.66
$ $
5.03 % 4,868 5,711 10,579 8,439 5.97 % 4.14
$ $
5.12 % 5,568 5,711 11,279 8,669 6.21 % 4.63
(15) (13) (14) (5)
(50) (13) (31) (15)
$ $
3.81 % 2,768 4,961 7,729 7,385 4.53 % 2.39
$ $
5.12 % 5,568 5,711 11,279 8,669 6.21 % 4.63
(50) (13) (31) (15)
(a) (b) (c)
Net charge-offs and net charge-off rates for the three months ended September 30, 2012 included $825 million of charge-offs of Chapter 7 loans. Excluding these charges-offs, net charge-offs for the three months ended September 30, 2012 would have been $402 million, $97 million and $91 million for the home equity, prime mortgage, including option ARMs, and subprime mortgage portfolios, respectively. Net charge-off rates for the same period, excluding these charge-offs and PCI loans, would have been 2.23%, 0.93% and 4.13% for the home equity, prime mortgage, including option ARMs, and subprime mortgage portfolios, respectively. For further information, see Consumer Credit Portfolio on pages 140-142 of JPMorgan Chase's 2012 Annual Report. The 30+ day delinquency rate for PCI loans was 16.19%, 17.92%, 19.26%, 20.14% and 20.65% at September 30, 2013, June 30, 2013, March 31, 2013, December 31, 2012 and September 30, 2012, respectively. Excludes PCI loans. Because the Firm is recognizing interest income on each pool of PCI loans, they are all considered to be performing.
Page 16

FINANCIAL HIGHLIGHTS, CONTINUED (in millions, except ratio data and where otherwise noted) QUARTERLY TRENDS 3Q13 2Q13 $ 1,067 261 1,328 3,342 4,670 564 1,988 2,118 1,249 32 43 15,500 % $ $ 1Q13 1,013 245 1,258 3,462 4,720 686 1,943 2,091 1,272 33 41 15,500 % $ $ 4Q12 1,097 227 1,324 3,484 4,808 1,250 2,171 1,387 840 20 % 45 16,500 $ 3Q12 1,032 248 1,280 3,443 4,723 1,231 1,920 1,572 954 23 % 41 16,500 3Q13 Change 2Q13 3Q12 1 % 1 1 (1) (1) 19 (4) (4) (1) 4 % 6 5 (4) (2) (45) 30 29 $ NINE MONTHS ENDED SEPTEMBER 30, 2013 Change 2013 2012 2012 3,155 769 3,924 10,098 14,022 1,923 5,848 6,251 3,756 32 % 42 15,500 $ 2,995 782 3,777 10,185 13,962 2,703 6,045 5,214 3,167 26 % 43 16,500 5 % (2) 4 (1) (29) (3) 20 19
CARD, MERCHANT SERVICES & AUTO

Card income All other income Noninterest revenue Net interest income Total net revenue Provision for credit losses Noninterest expense Income before income tax expense Net income ROE Overhead ratio Equity (period-end and average) SELECTED BALANCE SHEET DATA (period-end) Loans: Credit Card Auto Student Total loans SELECTED BALANCE SHEET DATA (average) Total assets Loans: Credit Card Auto Student Total loans BUSINESS METRICS Credit Card, excluding Commercial Card Sales volume (in billions) New accounts opened Open accounts Accounts with sales activity % of accounts acquired online Merchant Services (Chase Paymentech Solutions) Merchant processing volume (in billions) Total transactions (in billions) Auto & Student Origination volume (in billions) Auto Student $ 1,075 263 1,338 3,294 4,632 673 1,917 2,042 1,235 32 % 41 15,500
(6)
(6)
123,982 50,810 10,777 185,569
124,288 50,865 11,040 186,193
121,865 50,552 11,323 183,740
127,993 49,913 11,558 189,464
124,537 48,920 11,868 185,325
(2) -
4 (9) -
123,982 50,810 10,777 185,569
124,537 48,920 11,868 185,325
4 (9) -
198,702 123,912 50,432 10,907 185,251
196,921 122,855 50,677 11,172 184,704
196,634 123,564 50,045 11,459 185,068
197,606 124,729 49,268 11,710 185,707
196,302 124,339 48,399 12,037 184,775
1 1 (2) -
1 4 (9) -
197,427 123,445 50,386 11,178 185,009
197,679 125,712 48,126 12,774 186,612
(2) 5 (12) (1)
107.0 1.7 65.0 30.0 53 %
105.2 1.5 64.8 30.0 53 %
94.7 1.7 64.7 29.4 52 %
101.6 1.8 64.5 30.6 58 %
96.6 1.6 63.9 29.1 52 %
2 13 -
11 6 2 3
306.9 4.9 65.0 30.0 53 %
279.5 4.9 63.9 29.1 49 %
10 2 3
185.9 8.9
185.0 8.8
175.8 8.3
178.6 8.2
163.6 7.4
14 20
546.7 26.0
476.6 21.3
15 22
6.4
6.8
6.5 0.1
5.5
6.3 0.1
(6) -
2 NM
19.7 0.1
17.9 0.2
10 (50)
Page 17

FINANCIAL HIGHLIGHTS, CONTINUED (in millions, except ratio data) QUARTERLY TRENDS 3Q13 2Q13 1Q13 4Q12 3Q12 3Q13 Change 2Q13 3Q12 NINE MONTHS ENDED SEPTEMBER 30, 2013 Change 2013 2012 2012
CARD, MERCHANT SERVICES & AUTO (continued)

CREDIT DATA AND QUALITY STATISTICS Net charge-offs: Credit Card Auto (a) Student Total net charge-offs Net charge-off rate: Credit Card (b) Auto (a) Student Total net charge-off rate Delinquency rates 30+ day delinquency rate: Credit Card (c) Auto Student (d) Total 30+ day delinquency rate 90+ day delinquency rate - Credit Card (c) Nonperforming assets (e) Allowance for loan losses: Credit Card Auto & Student Total allowance for loan losses Allowance for loan losses to period-end loans: Credit Card (c) Auto & Student Total allowance for loan losses to period-end loans CARD SERVICES SUPPLEMENTAL INFORMATION Noninterest revenue Net interest income Total net revenue Provision for credit losses Noninterest expense Income before income tax expense Net income Percentage of average loans: Noninterest revenue Net interest income Total net revenue (a) (b) (c) (d) (e) $
892 44 88 1,024 2.86 % 0.35 3.20 2.19
1,014 23 77 1,114 3.31 % 0.18 2.76 2.42
1,082 40 64 1,186 3.55 % 0.32 2.27 2.60
1,097 44 109 1,250 3.50 % 0.36 3.70 2.68
1,116 90 80 1,286 3.57 % 0.74 2.64 2.77
(12) % 91 14 (8)
(20) % (51) 10 (20)
2,988 107 229 3,324 3.24 % 0.28 2.74 2.40
3,847 144 268 4,259 4.11 % 0.40 2.80 3.06
(22) % (26) (15) (22)
1.69 0.93 2.60 1.53 0.79 239 4,097 953 5,050 3.31 % 1.55 2.73 $
1.69 0.95 2.23 1.52 0.82 243 4,445 954 5,399 3.58 % 1.54 2.90 $
1.94 0.92 2.06 1.67 0.97 251 4,998 954 5,952 4.10 % 1.54 3.24 $
2.10 1.25 2.13 1.87 1.02 265 5,501 954 6,455 4.30 % 1.55 3.41 $
2.15 1.11 2.38 1.89 0.99 284 5,503 954 6,457 4.42 % 1.57 3.49 (2) (8) (6) (16) (26) (22) $
1.69 0.93 2.60 1.53 0.79 239 4,097 953 5,050 3.31 % 1.55 2.73 $
2.15 1.11 2.38 1.89 0.99 284 5,503 954 6,457 4.42 % 1.57 3.49 (16) (26) (22)
994 2,824 3,818 542 1,458 1,818 1,102
994 2,863 3,857 464 1,537 1,856 1,093
938 2,970 3,908 582 1,501 1,825 1,113
1,014 3,005 4,019 1,097 1,710 1,212 736
971 2,923 3,894 1,116 1,517 1,261 769
(1) (1) 17 (5) (2) 1
2 (3) (2) (51) (4) 44 43
2,926 8,657 11,583 1,588 4,496 5,499 3,308
2,873 8,606 11,479 2,347 4,856 4,276 2,608
2 1 1 (32) (7) 29 27
3.18 % 9.04 12.22
3.25 % 9.35 12.59
3.08 % 9.75 12.83
3.23 % 9.58 12.82
3.11 % 9.35 12.46
3.17 % 9.38 12.55
3.05 % 9.14 12.20
Net charge-offs and net charge-off rate for the three months ended September 30, 2012 included $55 million of charge-offs of Chapter 7 loans. Excluding these incremental charge-offs, net charge-offs for the three months ended September 30, 2012 would have been $35 million, and the net charge-off rate for the same period would have been 0.29%. Average credit card loans included loans held-for-sale of $67 million, $28 million and $109 million for the three months ended September 30, 2013, December 31, 2012 and September 30, 2012, respectively, and $23 million and $569 million for the nine months ended September 30, 2013 and September 30, 2012, respectively. These amounts are excluded when calculating the net charge-off rate. There were no loans held-for-sale for the three months ended June 30, 2013 and March 31, 2013. Period-end credit card loans included loans held-for-sale of $310 million and $106 million at September 30, 2013 and September 30, 2012, respectively. These amounts are excluded when calculating delinquency rates and the allowance for loan losses to period-end loans. There were no loans held-for-sale at June 30, 2013, March 31, 2013 and December 31, 2012. Excluded student loans insured by U.S. government agencies under the FFELP of $769 million, $812 million, $881 million, $894 million and $910 million at September 30, 2013, June 30, 2013, March 31, 2013, December 31, 2012 and September 30, 2012, respectively, that are 30 or more days past due. These amounts are excluded as reimbursement of insured amounts is proceeding normally. Nonperforming assets excluded student loans insured by U.S. government agencies under the FFELP of $456 million, $488 million, $523 million, $525 million and $536 million at September 30, 2013, June 30, 2013, March 31, 2013, December 31, 2012 and September 30, 2012, respectively, that are 90 or more days past due. These amounts are excluded as reimbursement of insured amounts is proceeding normally.
Page 18
CORPORATE & INVESTMENT BANK

FINANCIAL HIGHLIGHTS (in millions, except ratio data) QUARTERLY TRENDS 3Q13 INCOME STATEMENT REVENUE Investment banking fees Principal transactions (a) Lending- and deposit-related fees Asset management, administration and commissions All other income Noninterest revenue Net interest income TOTAL NET REVENUE (b) Provision for credit losses NONINTEREST EXPENSE Compensation expense Noncompensation expense TOTAL NONINTEREST EXPENSE Income before income tax expense Income tax expense NET INCOME FINANCIAL RATIOS ROE (c) Overhead ratio Compensation expense as a percent of total net revenue (d) REVENUE BY BUSINESS Advisory Equity underwriting Debt underwriting Total investment banking fees Treasury Services Lending Total Banking Fixed Income Markets (e) Equity Markets Securities Services Credit Adjustments & Other (a)(f) Total Markets & Investor Services TOTAL NET REVENUE 2Q13 1Q13 4Q12 3Q12 3Q13 Change 2Q13 3Q12 NINE MONTHS ENDED SEPTEMBER 30, 2013 Change 2013 2012 2012
1,510 2,202 471 1,128 392 5,703 2,486 8,189 (218)
1,717 3,288 486 1,289 391 7,171 2,705 9,876 (6)
1,433 3,961 473 1,167 323 7,357 2,783 10,140 11
1,720 966 499 1,163 435 4,783 2,859 7,642 (445)
1,429 2,263 486 1,104 290 5,572 2,788 8,360 (60)
(12) (33) (3) (12) (20) (8) (17) NM
6 (3) (3) 2 35 2 (11) (2) (263)
4,660 9,451 1,430 3,584 1,106 20,231 7,974 28,205 (213)
4,049 8,544 1,449 3,530 749 18,321 8,363 26,684 (34)
15 % 11 (1) 2 48 10 (5) 6 NM
2,330 2,669 4,999 3,408 1,168 2,240
2,988 2,754 5,742 4,140 1,302 2,838
3,376 2,735 6,111 4,018 1,408 2,610
2,217 2,779 4,996 3,091 1,086 2,005
2,755 2,595 5,350 3,070 1,078 1,992
(22) (3) (13) (18) (10) (21)
(15) 3 (7) 11 8 12
8,694 8,158 16,852 11,566 3,878 7,688
9,096 7,758 16,854 9,864 3,463 6,401
(4) 5 17 12 20
16 61 28
20 58 30
19 60 33
17 65 29
17 64 33
18 % 60 31
18 63 34
322 333 855 1,510 1,053 351 2,914 3,439 1,249 996 (409) 5,275 8,189
304 457 956 1,717 1,051 373 3,141 4,078 1,296 1,087 274 6,735 9,876
255 273 905 1,433 1,044 498 2,975 4,752 1,340 974 99 7,165 10,140
465 265 990 1,720 1,059 382 3,161 3,177 895 995 (586) 4,481 7,642
389 235 805 1,429 1,064 357 2,850 3,726 1,044 965 (225) 5,510 8,360
6 (27) (11) (12) (6) (7) (16) (4) (8) NM (22) (17)
(17) 42 6 6 (1) (2) 2 (8) 20 3 (82) (4) (2)
881 1,063 2,716 4,660 3,148 1,222 9,030 12,269 3,885 3,057 (36) 19,175 28,205
1,026 761 2,262 4,049 3,190 949 8,188 12,235 3,511 3,005 (255) 18,496 26,684
(14) 40 20 15 (1) 29 10 11 2 86 4 6
(a) (b) (c) (d) (e) (f)
Included debit valuation adjustments (DVA) on structured notes and derivative liabilities measured at fair value. DVA gains/(losses) were ($397) million, $355 million, $126 million, ($567) million and ($211) million for the three months ended September 30, 2013, June 30, 2013, March 31, 2013, December 31, 2012 and September 30, 2012, respectively, and $84 million and ($363) million for the nine months ended September 30, 2013 and 2012, respectively. Included tax-equivalent adjustments, predominantly due to income tax credits related to affordable housing and alternative energy investments, as well as tax-exempt income from municipal bond investments of $537 million, $550 million, $529 million, $533 million and $492 million for the three months ended September 30, 2013, June 30, 2013, March 31, 2013, December 31, 2012 and September 30, 2012, respectively, and $1.6 billion and $1.5 billion for the nine months ended September 30, 2013 and 2012, respectively. Return on equity excluding DVA, a non-GAAP financial measure, was 17%, 19%, 18%, 20% and 18% for the three months ended September 30, 2013, June 30, 2013, March 31, 2013, December 31, 2012 and September 30, 2012, respectively, and 18% and 19% for the nine months ended September 30, 2013 and 2012, respectively. For additional information on this measure, see non-GAAP financial measures on page 42. Compensation expense as a percentage of total net revenue excluding DVA, a non-GAAP financial measure, was 27%, 31%, 34%, 27% and 32% for the three months ended September 30, 2013, June 30, 2013, March 31, 2013, December 31, 2012 and September 30, 2012, respectively, and 31% and 34% for the nine months ended September 30, 2013 and 2012, respectively. For additional information on this measure, see non-GAAP financial measures on page 42. Includes results of the synthetic credit portfolio that was transferred from the Chief Investment Office ("CIO") effective July 2, 2012. Primarily includes credit portfolio credit valuation adjustments (CVA) net of associated hedging activities; DVA on structured notes and derivative liabilities; and nonperforming derivative receivable results.
Page 19

FINANCIAL HIGHLIGHTS, CONTINUED (in millions, except ratio and headcount data) QUARTERLY TRENDS 3Q13 SELECTED BALANCE SHEET DATA (period-end) Assets Loans: Loans retained (a) Loans held-for-sale and loans at fair value Total loans Equity SELECTED BALANCE SHEET DATA (average) Assets Trading assets - debt and equity instruments Trading assets - derivative receivables Loans: Loans retained (a) Loans held-for-sale and loans at fair value Total loans Equity Headcount CREDIT DATA AND QUALITY STATISTICS Net charge-offs/(recoveries) Nonperforming assets: Nonaccrual loans: Nonaccrual loans retained (a)(b) Nonaccrual loans held-for-sale and loans at fair value Total nonaccrual loans Derivative receivables Assets acquired in loan satisfactions Total nonperforming assets Allowance for credit losses: Allowance for loan losses Allowance for lending-related commitments Total allowance for credit losses $ 867,474 104,269 3,687 107,956 56,500 $ 2Q13 873,527 106,248 4,564 110,812 56,500 $ 1Q13 872,259 112,005 5,506 117,511 56,500 $ 4Q12 876,107 109,501 5,749 115,250 47,500 $ 3Q12 904,090 107,903 3,899 111,802 47,500 3Q13 Change 2Q13 3Q12 (1) % (2) (19) (3) (4) % (3) (5) (3) 19 $ NINE MONTHS ENDED SEPTEMBER 30, 2013 Change 2013 2012 2012 867,474 104,269 3,687 107,956 56,500 $ 904,090 107,903 3,899 111,802 47,500 (4) % (3) (5) (3) 19
838,158 300,135 70,814 103,179 5,113 108,292 56,500 52,445
878,801 336,118 72,036 107,654 5,950 113,604 56,500 51,771
870,467 342,323 71,111 106,793 5,254 112,047 56,500 51,634
863,890 333,764 73,519 109,037 5,065 114,102 47,500 52,022
841,678 296,811 74,812 111,263 2,809 114,072 47,500 52,226
(5) (11) (2) (4) (14) (5) 1
1 (5) (7) 82 (5) 19 -
862,357 326,037 71,319 105,862 5,438 111,300 56,500 52,445
851,574 305,953 75,329 110,457 2,977 113,434 47,500 52,226
1 7 (5) (4) 83 (2) 19 -
(4)
(82)
19
(217)
(22)
95
82
(67)
(67)
176 61 237 431 38 706 1,138 490 1,628
227 148 375 448 46 869 1,287 556 1,843
340 104 444 412 55 911 1,246 521 1,767
535 82 617 239 64 920 1,300 473 1,773
588 213 801 282 77 1,160 1,459 544 2,003
(22) (59) (37) (4) (17) (19) (12) (12) (12)
(70) (71) (70) 53 (51) (39) (22) (10) (19)
176 61 237 431 38 706 1,138 490 1,628
588 213 801 282 77 1,160 1,459 544 2,003
(70) (71) (70) 53 (51) (39) (22) (10) (19)
Net charge-off/(recovery) rate (a) Allowance for loan losses to period-end loans retained (a) Allowance for loan losses to period-end loans retained, excluding trade finance and conduits (c) Allowance for loan losses to nonaccrual loans retained (a)(b) Nonaccrual loans to total period-end loans
(0.02) 1.09 2.01 647 0.22
(0.31) 1.21 2.35 567 0.34
0.07 1.11 2.17 366 0.38
(0.79) 1.19 2.52 243 0.54
(0.08) 1.35 2.92 248 0.72
(0.08) % 1.09 2.01 647 0.22
(0.08) % 1.35 2.92 248 0.72
(a) (b) (c)
Loans retained includes credit portfolio loans, trade finance loans, other held-for-investment loans and overdrafts. Allowance for loan losses of $56 million, $70 million, $73 million, $153 million and $178 million were held against these nonaccrual loans at September 30, 2013, June 30, 2013, March 31, 2013, December 31, 2012 and September 30, 2012, respectively. Management uses allowance for loan losses to period-end loans retained, excluding trade finance and conduits, a non-GAAP financial measure, as it is a more relevant metric to reflect the allowance coverage of the retained loan portfolio.
Page 20

FINANCIAL HIGHLIGHTS, CONTINUED (in millions, except rankings data and where otherwise noted) QUARTERLY TRENDS 3Q13 BUSINESS METRICS Assets under custody ("AUC") by asset class (period-end) (in billions): Fixed Income Equity Other (a) Total AUC Client deposits and other third-party liabilities (average) Trade finance loans (period-end) 2Q13 1Q13 4Q12 3Q12 3Q13 Change 2Q13 3Q12 NINE MONTHS ENDED SEPTEMBER 30, 2013 Change 2013 2012 2012
11,691 6,473 1,572 19,736 385,952 34,356
11,421 5,961 1,547 18,929 369,108 36,375
11,730 6,007 1,557 19,294 357,262 38,985
11,745 5,637 1,453 18,835 366,544 35,783
11,545 5,328 1,346 18,219 351,383 35,142
2 9 2 4 5 (6)
1 21 17 8 10 (2)
11,691 6,473 1,572 19,736 370,879 34,356
11,545 5,328 1,346 18,219 352,147 35,142
1 % 21 17 8 5 (2)
SEPTEMBER 30, 2013 MARKET SHARES AND RANKINGS (b) Global investment banking fees (c) Debt, equity and equity-related Global U.S. Syndicated loans Global U.S. Long-term debt (d) Global U.S. Equity and equity-related Global (e) U.S. Announced M&A (f) Global U.S. Market Share 8.8 7.4 11.8 9.9 17.7 7.3 11.7 8.2 12.1 27.2 39.8 % Rankings #1 1 1 1 1 1 1 2 2 2 2
FULL YEAR 2012 Market Share 7.5 7.2 11.5 9.6 17.6 7.1 11.6 7.8 10.4 19.9 24.5 % Rankings #1 1 1 1 1 1 1 4 5 2 2
(a) (b) (c) (d) (e) (f)
Consists of mutual funds, unit investment trusts, currencies, annuities, insurance contracts, options and other contracts. Source: Dealogic. Global investment banking fees reflects the ranking of fees and market share. The remaining rankings reflects transaction volume and market share. Global announced M&A is based on transaction value at announcement; because of joint M&A assignments, M&A market share of all participants will add up to more than 100%. All other transaction volume-based rankings are based on proceeds, with full credit to each book manager/equal if joint. Global investment banking fees rankings exclude money market, short-term debt and shelf deals. Long-term debt rankings include investment-grade, high-yield, supranationals, sovereigns, agencies, covered bonds, asset-backed securities and mortgage-backed securities; and exclude money market, short-term debt, and U.S. municipal securities. Global equity and equity-related ranking includes rights offerings and Chinese A-Shares. Announced M&A reflects the removal of any withdrawn transactions. U.S. announced M&A represents any U.S. involvement ranking.
Page 21

FINANCIAL HIGHLIGHTS, CONTINUED (in millions, except where otherwise noted) QUARTERLY TRENDS INTERNATIONAL METRICS Total net revenue (a) Europe/Middle East/Africa Asia/Pacific Latin America/Caribbean Total international net revenue North America Total net revenue Loans (period-end) (a) Europe/Middle East/Africa Asia/Pacific Latin America/Caribbean Total international loans North America Total loans Client deposits and other third-party liabilities (average) (a) Europe/Middle East/Africa Asia/Pacific Latin America/Caribbean Total international North America Total client deposits and other third-party liabilities AUC (period-end) (in billions) (a) North America All other regions Total AUC 3Q13 $ 2,550 1,295 264 4,109 4,080 8,189 $ 2Q13 2,955 1,403 397 4,755 5,121 9,876 $ 1Q13 3,383 1,165 400 4,948 5,192 10,140 $ 4Q12 2,261 939 337 3,537 4,105 7,642 $ 3Q12 2,443 1,031 392 3,866 4,494 8,360 3Q13 Change 2Q13 3Q12 (14) % (8) (34) (14) (20) (17) 4 % 26 (33) 6 (9) (2) $ NINE MONTHS ENDED SEPTEMBER 30, 2013 Change 2013 2012 2012 8,888 3,863 1,061 13,812 14,393 28,205 $ 8,378 3,161 1,187 12,726 13,958 26,684 6 % 22 (11) 9 3 6
30,495 26,653 9,172 66,320 37,949 104,269
32,685 26,616 10,434 69,735 36,513 106,248
33,674 29,908 10,308 73,890 38,115 112,005
30,266 27,193 10,220 67,679 41,822 109,501
27,866 27,215 9,730 64,811 43,092 107,903
(7) (12) (5) 4 (2)
9 (2) (6) 2 (12) (3)
30,495 26,653 9,172 66,320 37,949 104,269
27,866 27,215 9,730 64,811 43,092 107,903
9 (2) (6) 2 (12) (3)
146,685 51,895 15,760 214,340 171,612 385,952
139,801 51,666 15,012 206,479 162,629 369,108
134,339 51,996 12,180 198,515 158,747 357,262
128,620 53,309 11,766 193,695 172,849 366,544
125,720 50,862 10,141 186,723 164,660 351,383
5 5 4 6 5
17 2 55 15 4 10
140,320 51,852 14,331 206,503 164,376 370,879
126,891 50,465 10,813 188,169 163,978 352,147
11 3 33 10 5
$ $
10,939 8,797 19,736
$ $
10,672 8,257 18,929
$ $
10,788 8,506 19,294
$ $
10,504 8,331 18,835
$ $
10,206 8,013 18,219
3 7 4
7 10 8
$ $
10,939 8,797 19,736
$ $
10,206 8,013 18,219
7 10 8
(a)
Total net revenue is based predominantly on the domicile of the client or location of the trading desk, as applicable. Loans outstanding (excluding loans held-for-sale and loans at fair value), client deposits and other third-party liabilities, and AUC are based predominantly on the domicile of the client.
Page 22
COMMERCIAL BANKING
FINANCIAL HIGHLIGHTS (in millions, except ratio data)
QUARTERLY TRENDS 3Q13 INCOME STATEMENT REVENUE Lending- and deposit-related fees Asset management, administration and commissions All other income (a) Noninterest revenue Net interest income TOTAL NET REVENUE (b) Provision for credit losses NONINTEREST EXPENSE Compensation expense Noncompensation expense Amortization of intangibles TOTAL NONINTEREST EXPENSE Income before income tax expense Income tax expense NET INCOME Revenue by product: Lending Treasury services Investment banking Other (c) Total Commercial Banking revenue 2Q13 1Q13 4Q12 3Q12 3Q13 Change 2Q13 3Q12
256 28 304 588 1,137 1,725 (41)
265 30 256 551 1,177 1,728 44
259 32 244 535 1,138 1,673 39
269 30 279 578 1,167 1,745 (3)
263 30 293 586 1,146 1,732 (16)
(3) % (7) 19 7 (3) NM
(3) % (7) 4 (1) (156)
780 90 804 1,674 3,452 5,126 42
803 100 802 1,705 3,375 5,080 44
(3) % (10) (2) 2 1 (5)
288 367 6 661 1,105 440 665
286 361 5 652 1,032 411 621
289 348 7 644 990 394 596
250 342 7 599 1,149 457 692
263 332 6 601 1,147 457 690
1 2 20 1 7 7 7
10 11 10 (4) (4) (4)
863 1,076 18 1,957 3,127 1,245 1,882
764 1,006 20 1,790 3,246 1,292 1,954
13 7 (10) 9 (4) (4) (4)
922 605 155 43 1,725
971 607 132 18 1,728
924 605 118 26 1,673
947 614 157 27 1,745
916 609 139 68 1,732
(5) 17 139 -
1 (1) 12 (37) -
2,817 1,817 405 87 5,126
2,728 1,814 388 150 5,080
3 4 (42) 1
Investment banking revenue, gross (d) Revenue by client segment: Middle Market Banking (e) Corporate Client Banking (e) Commercial Term Lending Real Estate Banking Other Total Commercial Banking revenue FINANCIAL RATIOS ROE Overhead ratio
448
385
341
443
431
16
1,174
1,154
745 459 311 118 92 1,725
777 444 315 113 79 1,728
753 433 291 112 84 1,673
752 492 312 113 76 1,745
748 460 298 106 120 1,732
(4) 3 (1) 4 16 -
4 11 (23) -
2,275 1,336 917 343 255 5,126
2,219 1,327 882 325 327 5,080
3 1 4 6 (22) 1
20 % 38
18 % 38
18 % 38
29 % 34
29 % 35
19 % 38
27 % 35
(a) (b) (c) (d) (e)
Includes revenue from investment banking products and commercial card transactions. Total net revenue included tax-equivalent adjustments from income tax credits related to equity investments in designated community development entities that provide loans to qualified businesses in low-income communities, as well as tax-exempt income from municipal bond activity of $95 million, $90 million, $93 million, $73 million and $115 million for the three months ended September 30, 2013, June 30, 2013, March 31, 2013, December 31, 2012 and September 30, 2012, respectively, and $278 million and $308 million for the nine months ended September 30, 2013 and 2012, respectively. Other revenue in the fourth quarter of 2012 included a $49 million year-to-date reclassification of tax equivalent revenue to Corporate/Private Equity. Represents the total revenue related to investment banking products sold to CB clients. Effective January 1, 2013, the financial results of financial institution clients were transferred to Corporate Client Banking from Middle Market Banking. Prior periods were revised to conform with this presentation.
Page 23
COMMERCIAL BANKING
FINANCIAL HIGHLIGHTS, CONTINUED (in millions, except headcount and ratio data) QUARTERLY TRENDS 3Q13 SELECTED BALANCE SHEET DATA (period-end) Total assets Loans: Loans retained (a) Loans held-for-sale and loans at fair value Total loans Equity Period-end loans by client segment: Middle Market Banking (b) Corporate Client Banking (b) Commercial Term Lending Real Estate Banking Other Total Commercial Banking loans SELECTED BALANCE SHEET DATA (average) Total assets Loans: Loans retained (a) Loans held-for-sale and loans at fair value Total loans Client deposits and other third-party liabilities Equity Average loans by client segment: Middle Market Banking (b) Corporate Client Banking (b) Commercial Term Lending Real Estate Banking Other Total Commercial Banking loans Headcount (c) CREDIT DATA AND QUALITY STATISTICS Net charge-offs/(recoveries) Nonperforming assets: Nonaccrual loans: Nonaccrual loans retained (d) Nonaccrual loans held-for-sale and loans at fair value Total nonaccrual loans Assets acquired in loan satisfactions Total nonperforming assets Allowance for credit losses: Allowance for loan losses Allowance for lending-related commitments Total allowance for credit losses Net charge-off/(recovery) rate (e) Allowance for loan losses to period-end loans retained Allowance for loan losses to nonaccrual loans retained (d) Nonaccrual loans to total period-end loans (a) (b) (c) (d) (e) $ 192,194 133,090 2,071 135,161 13,500 52,214 21,425 47,612 10,057 3,853 135,161 $ 2Q13 184,124 130,487 430 130,917 13,500 52,053 19,933 45,865 9,395 3,671 130,917 $ 1Q13 184,689 129,534 851 130,385 13,500 52,296 20,962 44,374 9,003 3,750 130,385 $ 4Q12 181,502 126,996 1,212 128,208 9,500 50,552 21,707 43,512 8,552 3,885 128,208 $ 3Q12 168,124 123,173 549 123,722 9,500 48,616 19,963 42,304 8,563 4,276 123,722 3Q13 Change 2Q13 3Q12 4 2 382 3 7 4 7 5 3 % 14 8 277 9 42 7 7 13 17 (10) 9 % $ NINE MONTHS ENDED SEPTEMBER 30, 2013 Change 2013 2012 2012 192,194 133,090 2,071 135,161 13,500 52,214 21,425 47,612 10,057 3,853 135,161 $ 168,124 123,173 549 123,722 9,500 48,616 19,963 42,304 8,563 4,276 123,722 14 % 8 277 9 42 7 7 13 17 (10) 9
185,744 131,019 599 131,618 196,802 13,500 51,379 20,261 46,656 9,675 3,647 131,618 6,761
184,951 130,338 1,251 131,589 195,232 13,500 52,205 21,344 45,087 9,277 3,676 131,589 6,660
182,620 128,490 800 129,290 195,968 13,500 52,013 21,061 43,845 8,677 3,694 129,290 6,511
171,184 124,507 1,491 125,998 199,297 9,500 48,953 21,755 42,890 8,450 3,950 125,998 6,117
164,702 121,566 552 122,118 190,910 9,500 47,547 19,985 41,658 8,651 4,277 122,118 6,092
1 (52) 1 (2) (5) 3 4 (1) 2
13 8 9 8 3 42 8 1 12 12 (15) 8 11
184,450 129,958 883 130,841 196,004 13,500 51,863 20,886 45,206 9,213 3,673 130,841 6,761
163,072 117,442 677 118,119 194,775 9,500 46,356 18,839 40,194 8,600 4,130 118,119 6,092
13 11 30 11 1 42 12 11 12 7 (11) 11 11
16
(7)
50
(18)
78
NM
18
(15)
NM
558 8 566 19 585 2,647 171 2,818 0.05 1.99 474 0.42 %
505 8 513 30 543 2,691 183 2,874 0.03 2.06 533 0.39 %
643 26 669 12 681 2,656 183 2,839 (0.02) % 2.05 413 0.51
644 29 673 14 687 2,610 183 2,793 0.16 2.06 405 0.52 %
843 33 876 32 908 2,653 196 2,849 (0.06) % 2.15 315 0.71
10 10 (37) 8 (2) (7) (2)
(34) (76) (35) (41) (36) (13) (1)
558 8 566 19 585 2,647 171 2,818 0.02 % 1.99 474 0.42
843 33 876 32 908 2,653 196 2,849 (0.02) % 2.15 315 0.71
(34) (76) (35) (41) (36) (13) (1)
Effective January 1, 2013, whole loan financing agreements, previously reported as other assets, were reclassified as loans. For the three months ended September 30, 2013, June 30, 2013 and March 31, 2013, the impact on period-end loans was $1.6 billion, $2.1 billion and $1.7 billion, respectively, and the impact on average loans was $1.7 billion, $1.8 billion and $1.6 billion, respectively. Effective January 1, 2013, the financial results of financial institution clients were transferred to Corporate Client Banking from Middle Market Banking. Prior periods were revised to conform with this presentation. Effective January 1, 2013, headcount includes transfers from other business segments largely related to operations, technology and other support staff. Allowance for loan losses of $102 million, $79 million, $99 million, $107 million and $148 million was held against nonaccrual loans retained at September 30, 2013, June 30, 2013, March 31, 2013, December 31, 2012 and September 30, 2012, respectively. Loans held-for-sale and loans at fair value were excluded when calculating the net charge-off/(recovery) rate.
Page 24
ASSET MANAGEMENT
FINANCIAL HIGHLIGHTS (in millions, except ratio and headcount data)
QUARTERLY TRENDS 3Q13 INCOME STATEMENT REVENUE Asset management, administration and commissions All other income Noninterest revenue Net interest income TOTAL NET REVENUE Provision for credit losses NONINTEREST EXPENSE Compensation expense Noncompensation expense Amortization of intangibles TOTAL NONINTEREST EXPENSE Income before income tax expense Income tax expense NET INCOME REVENUE BY CLIENT SEGMENT Private Banking Institutional Retail TOTAL NET REVENUE FINANCIAL RATIOS ROE Overhead ratio Pretax margin ratio SELECTED BALANCE SHEET DATA (period-end) Total assets Loans (a) Deposits Equity SELECTED BALANCE SHEET DATA (average) Total assets Loans Deposits Equity Headcount 2Q13 1Q13 4Q12 3Q12 3Q13 Change 2Q13 3Q12
2,017 168 2,185 578 2,763
2,018 138 2,156 569 2,725 23
1,883 211 2,094 559 2,653 21
2,011 190 2,201 552 2,753 19
1,708 199 1,907 552 2,459 14
- % 22 1 2 1 NM
18 % (16) 15 5 12 NM
5,918 517 6,435 1,706 8,141 44
5,030 616 5,646 1,547 7,193 67
18 % (16) 14 10 13 (34)
1,207 774 22 2,003 760 284 476
1,155 716 21 1,892 810 310 500
1,170 684 22 1,876 756 269 487
1,178 742 23 1,943 791 308 483
1,083 625 23 1,731 714 271 443
5 8 5 6 (6) (8) (5)
11 24 (4) 16 6 5 7
3,532 2,174 65 5,771 2,326 863 1,463
3,227 1,866 68 5,161 1,965 745 1,220
9 17 (4) 12 18 16 20
1,488 553 722 2,763
1,483 588 654 2,725
1,446 589 618 2,653
1,441 729 583 2,753
1,365 563 531 2,459
(6) 10 1
9 (2) 36 12
4,417 1,730 1,994 8,141
3,985 1,657 1,551 7,193
11 4 29 13
21 % 72 28
22 % 69 30
22 % 71 29
27 % 71 29
25 % 70 29
22 % 71 29
23 % 72 27
117,475 90,538 139,553 9,000
115,157 86,043 137,289 9,000
109,734 81,403 139,679 9,000
108,999 80,216 144,579 7,000
103,608 74,924 129,653 7,000
2 5 2 -
13 21 8 29
117,475 90,538 139,553 9,000
103,608 74,924 129,653 7,000
13 21 8 29
114,275 87,770 138,742 9,000 19,928
111,431 83,621 136,577 9,000 19,026
107,911 80,002 139,441 9,000 18,604
104,232 76,528 133,693 7,000 18,465
99,209 71,824 127,487 7,000 18,070
3 5 2 5
15 22 9 29 10
111,229 83,826 138,251 9,000 19,928
95,168 66,097 127,702 7,000 18,070
17 27 8 29 10
(a)
Included $17.5 billion, $14.8 billion, $12.7 billion, $10.9 billion and $8.9 billion of prime mortgage loans reported in the Consumer, excluding credit card, loan portfolio, at September 30, 2013, June 30, 2013, March 31, 2013, December 31, 2012 and September 30, 2012, respectively. For the same periods, excluded $4.0 billion, $4.8 billion, $5.6 billion, $6.7 billion and $8.2 billion of prime mortgage loans reported in the CIO portfolio within the Corporate/Private Equity segment, respectively.
Page 25
ASSET MANAGEMENT
FINANCIAL HIGHLIGHTS, CONTINUED (in millions, except ratio data and where otherwise noted) QUARTERLY TRENDS 3Q13 BUSINESS METRICS Number of client advisors % of customer assets in 4 & 5 Star Funds (a) % of AUM in 1st and 2nd quartiles: (b) 1 year 3 years 5 years CREDIT DATA AND QUALITY STATISTICS Net charge-offs Nonaccrual loans Allowance for credit losses: Allowance for loan losses Allowance for lending-related commitments Total allowance for credit losses Net charge-off rate Allowance for loan losses to period-end loans Allowance for loan losses to nonaccrual loans Nonaccrual loans to period-end loans AM FIRMWIDE DISCLOSURES (c) Total net revenue Client assets (in billions) (d) Number of client advisors 2,995 55 73 74 74 % 2Q13 2,804 52 73 77 76 1Q13 2,797 51 70 74 75 4Q12 2,821 47 67 74 76 3Q12 2,826 45 69 78 77 3Q13 Change 2Q13 3Q12 7 % % 6 % NINE MONTHS ENDED SEPTEMBER 30, 2013 Change 2013 2012 2012 2,995 55 % 73 74 74 2,826 45 % 69 78 77 6 %
9 202 260 7 267 0.04 0.29 129 0.22 %
4 244 270 6 276 0.02 0.31 111 0.28
23 259 249 5 254 0.12 0.31 96 0.32
3 250 248 5 253 0.02 0.31 99 0.31
6 227 229 5 234 0.03 0.31 101 0.30
125 (17) (4) 17 (3) %
50 (11) 14 40 14
36 202 260 7 267 0.06 % 0.29 129 0.22
61 227 229 5 234 0.12 % 0.31 101 0.30
(41) (11) 14 40 14
3,300 2,423 6,023
3,226 2,323 5,828
3,112 2,332 5,795
3,164 2,244 5,784
2,843 2,172 5,860
2 4 3
16 12 3
9,638 2,423 6,023
8,279 2,172 5,860
16 12 3
(a) (b) (c) (d)
Derived from Morningstar for the U.S., the U.K., Luxembourg, France, Hong Kong and Taiwan; and Nomura for Japan. Quartile ranking sourced from: Lipper for the U.S. and Taiwan; Morningstar for the U.K., Luxembourg, France and Hong Kong; and Nomura for Japan. Includes Chase Wealth Management ("CWM"), which is a unit of Consumer & Business Banking. The firmwide metrics are presented in order to capture AM's partnership with CWM. Management reviews firmwide metrics in assessing the financial performance of AM's client asset management business. Excludes CWM client assets that are managed by AM.
Page 26
ASSET MANAGEMENT
FINANCIAL HIGHLIGHTS, CONTINUED (in billions)
CLIENT ASSETS Assets by asset class Liquidity Fixed income Equity Multi-asset and alternatives TOTAL ASSETS UNDER MANAGEMENT Custody/brokerage/administration/deposits TOTAL CLIENT ASSETS MEMO: Alternatives client assets (a) Assets by client segment Private Banking Institutional Retail TOTAL ASSETS UNDER MANAGEMENT Private Banking Institutional Retail TOTAL CLIENT ASSETS
Sep 30, 2013 $ 446 328 346 420 1,540 706 2,246 $
Jun 30, 2013 431 325 316 398 1,470 687 2,157 $
Mar 31, 2013 454 331 312 386 1,483 688 2,171 $
Dec 31, 2012 458 330 277 361 1,426 669 2,095 $
Sep 30, 2012 437 326 266 352 1,381 650 2,031
Sep 30, 2013 Change Jun 30, Sep 30, 2013 2012 3 % 1 9 6 5 3 4 2 % 1 30 19 12 9 11
151
147
144
142
142
$ $
352 752 436 1,540 935 752 559 2,246
$ $
340 723 407 1,470 910 723 524 2,157
$ $
339 749 395 1,483 909 749 513 2,171
$ $
318 741 367 1,426 877 741 477 2,095
$ $
311 710 360 1,381 852 710 469 2,031
4 4 7 5 3 4 7 4
13 6 21 12 10 6 19 11
Mutual fund assets by asset class Liquidity Fixed income Equity Multi-asset and alternatives TOTAL MUTUAL FUND ASSETS
396 140 183 68 787
379 139 164 60 742
400 142 159 53 754
410 136 139 46 731
390 128 134 46 698
4 1 12 13 6
2 9 37 48 13
(a)
Represents assets under management, as well as client balances in brokerage accounts.
Page 27
ASSET MANAGEMENT
FINANCIAL HIGHLIGHTS, CONTINUED (in billions) QUARTERLY TRENDS 3Q13 CLIENT ASSETS (continued) Assets under management rollforward Beginning balance Net asset flows: Liquidity Fixed income Equity Multi-asset and alternatives Market/performance/other impacts Ending balance 2Q13 1Q13 4Q12 3Q12 NINE MONTHS ENDED SEPTEMBER 30, 2013 2012
1,470 13 1 7 11 38 1,540
1,483 (22) 4 7 14 (16) 1,470
1,426 (2) 2 15 13 29 1,483
1,381 22 4 6 13 1,426
1,347 (15) 12 1 6 30 1,381
1,426 (11) 7 29 38 51 1,540
1,336 (63) 27 4 17 60 1,381
Client assets rollforward Beginning balance Net asset flows Market/performance/other impacts Ending balance
2,157 39 50 2,246
2,171 (4) (10) 2,157
2,095 20 56 2,171
2,031 48 16 2,095
1,968 10 53 2,031
2,095 55 96 2,246
1,921 12 98 2,031
Page 28
ASSET MANAGEMENT
FINANCIAL HIGHLIGHTS, CONTINUED (in billions, except where otherwise noted)
QUARTERLY TRENDS INTERNATIONAL METRICS Total net revenue: (in millions) (a) Europe/Middle East/Africa Asia/Pacific Latin America/Caribbean North America Total net revenue Assets under management: Europe/Middle East/Africa Asia/Pacific Latin America/Caribbean North America Total assets under management Client assets: Europe/Middle East/Africa Asia/Pacific Latin America/Caribbean North America Total client assets 3Q13 $ 465 295 202 1,801 2,763 $ 2Q13 435 291 230 1,769 2,725 $ 1Q13 437 277 206 1,733 2,653 $ 4Q12 471 256 240 1,786 2,753 $ 3Q12 386 245 191 1,637 2,459 3Q13 Change 2Q13 3Q12 7 % 1 (12) 2 1 20 20 6 10 12 % $
NINE MONTHS ENDED SEPTEMBER 30, 2013 Change 2013 2012 2012 1,337 863 638 5,303 8,141 $ 1,170 711 532 4,780 7,193 14 % 21 20 11 13
271 132 42 1,095 1,540
261 124 40 1,045 1,470
270 123 39 1,051 1,483
258 114 45 1,009 1,426
267 112 42 960 1,381
4 6 5 5 5
1 18 14 12
271 132 42 1,095 1,540
267 112 42 960 1,381
1 18 14 12
330 179 109 1,628 2,246
317 171 105 1,564 2,157
328 170 106 1,567 2,171
317 160 110 1,508 2,095
325 155 106 1,445 2,031
4 5 4 4 4
2 15 3 13 11
330 179 109 1,628 2,246
325 155 106 1,445 2,031
2 15 3 13 11
(a)
Regional revenue is based on the domicile of the client.
Page 29
CORPORATE/PRIVATE EQUITY
FINANCIAL HIGHLIGHTS (in millions, except headcount data) QUARTERLY TRENDS 3Q13 INCOME STATEMENT (a) REVENUE Principal transactions Securities gains All other income Noninterest revenue Net interest income TOTAL NET REVENUE (b) Provision for credit losses NONINTEREST EXPENSE Compensation expense Noncompensation expense (c) Subtotal Net expense allocated to other businesses TOTAL NONINTEREST EXPENSE Income/(loss) before income tax expense/(benefit) Income tax expense/(benefit) NET INCOME/(LOSS) MEMO: TOTAL NET REVENUE Private Equity Treasury and Chief Investment Office ("CIO") Other Corporate (a) TOTAL NET REVENUE NET INCOME/(LOSS) Private Equity Treasury and CIO Other Corporate (a) TOTAL NET INCOME/(LOSS) TOTAL ASSETS (period-end) (a) Headcount (a) 2Q13 1Q13 4Q12 3Q12 3Q13 Change 2Q13 3Q12 NINE MONTHS ENDED SEPTEMBER 30, 2013 Change 2013 2012 2012
378 26 83 487 (366) 121 (17)
393 124 (227) 290 (676) (386) 5
(262) 509 114 361 (594) (233) (3)
159 103 142 404 (528) (124) (6)
(304) (d) 459 1,042 (e) 1,197 (605) 592 (11)
(4) % (79) NM 68 46 NM NM
NM % (94) (92) (59) 40 (80) (55)
509 659 (30) 1,138 (1,636) (498) (15)
(4,427) (d)(f) 1,921 2,292 (e)(g) (214) (753) (967) (31)
NM % (66) NM NM (117) 49 52
551 9,890 10,441 (1,345) 9,096 (8,958) (2,495) (6,463)
624 1,345 1,969 (1,253) 716 (1,107) (555) (552)
573 642 1,215 (1,213) 2 (232) (482) 250
545 1,151 1,696 (1,176) 520 (638) (1,161) 523
455 1,461 1,916 (1,183) 733 (130) (358) 228
(12) NM 430 (7) NM NM (350) NM
21 NM 445 (14) NM NM NM NM
1,748 11,877 13,625 (3,811) 9,814 (10,297) (3,532) (6,765)
1,676 5,821 7,497 (3,458) 4,039 (4,975) (2,430) (2,545)
4 104 82 (10) 143 (107) (45) (166)
398 (232) (45) 121
410 (648) (148) (386)
(276) 113 (70) (233)
72 (110) (86) (124)
(135) 713 14 592
(3) 64 70 NM
NM NM NM (80)
532 (767) (263) (498)
529 (2,954) 1,458 (967)
1 74 NM 49
$ $
242 (193) (6,512) (6,463) 835,000 19,843
$ $
212 (429) (335) (552) 806,044 18,720
$ $
(182) 24 408 250 763,765 18,026
$ $
50 (157) 630 523 725,251 17,758
$ $
(89) 369 (52) 228 681,860 17,577
14 55 NM NM 4 6
NM NM NM NM 22 13
$ $
272 (598) (6,439) (6,765) 835,000 19,843
$ $
242 (1,936) (851) (2,545) 681,860 17,577
12 69 NM (166) 22 13
(a) (b) (c) (d) (e) (f) (g)
In the second quarter of 2013, the 2012 data for certain income statement (including net expense allocated to other businesses) and balance sheet line items, as well as headcount were revised to reflect the transfer of certain functions and staff from Corporate/Private Equity to CCB, effective January 1, 2013. For further information on this transfer, see CCB on page 10. Included tax-equivalent adjustments, predominantly due to tax-exempt income from municipal bond investments of $128 million, $105 million, $103 million, $117 million and $109 million for the three months ended September 30, 2013, June 30, 2013, March 31, 2013, December 31, 2012 and September 30, 2012, respectively, and $336 million and $326 million for the nine months ended September 30, 2013 and 2012, respectively. Included litigation expense of $9.2 billion, $0.6 billion, $0.2 billion and $0.7 billion for the three months ended September 30, 2013, June 30, 2013, December 31, 2012 and September 30, 2012, respectively (litigation expense for the three months ended March, 31, 2013 was not material), and $9.8 billion and $3.5 billion for the nine months ended September 30, 2013 and 2012, respectively. During the third quarter of 2012, CIO effectively closed out the index credit derivative positions that were retained following the transfer of the synthetic credit portfolio to the CIB on July 2, 2012. Principal transactions revenue included losses in CIO on this portfolio of $449 million for the three months ended September 30, 2012. Also included losses in CIO of $4.4 billion and $1.4 billion on the synthetic credit portfolio for the three months ended June 30, 2012 and March 31, 2012, respectively. Results of the portfolio that was transferred to CIB are not included herein. Included an extinguishment gain of $888 million related to the redemption of trust preferred securities ("TruPS") for the three months ended September 30, 2012; the gain related to adjustments applied to the cost basis of these securities during the period they were in a qualifying hedge accounting relationship. Included a gain of $545 million that was recorded in the second quarter of 2012, reflecting the recovery on a Bear Stearns-related subordinated loan. Included a $1.1 billion benefit that was recorded in the first quarter of 2012 from the Washington Mutual bankruptcy settlement.
Page 30
CORPORATE/PRIVATE EQUITY
FINANCIAL HIGHLIGHTS, CONTINUED (in millions)
QUARTERLY TRENDS 3Q13 SUPPLEMENTAL INFORMATION TREASURY and CHIEF INVESTMENT OFFICE ("CIO") Securities gains Investment securities portfolio (average) Investment securities portfolio (period-end) Mortgage loans (average) Mortgage loans (period-end) PRIVATE EQUITY Private equity gains/(losses) Direct investments Realized gains/(losses) Unrealized gains/(losses) (a) Total direct investments Third-party fund investments Total private equity gains/(losses) (b) Private equity portfolio information Direct investments Publicly-held securities Carrying value Cost Quoted public value Privately-held direct securities Carrying value Cost Third-party fund investments (c) Carrying value Cost Total private equity portfolio Carrying value Cost 2Q13 1Q13 4Q12 3Q12 3Q13 Change 2Q13 3Q12
26 348,622 350,527 4,562 4,161
123 355,920 349,044 5,556 4,955
503 365,639 360,230 6,516 5,914
103 362,867 365,421 7,882 7,037
459 348,571 360,268 9,469 8,574
(79) % (2) (18) (16)
(94) % (3) (52) (51)
652 356,665 350,527 5,538 4,161
1,925 356,405 360,268 11,033 8,574
(66) % (3) (50) (51)
(142) 487 345 83 428
40 375 415 24 439
48 (327) (279) 20 (259)
(8) 11 3 87 90
75 (140) (65) (27) (92)
NM 30 (17) 246 (3)
NM NM NM NM NM
(54) 535 481 127 608
25 628 653 47 700
NM (15) (26) 170 (13)
538 345 538 6,266 7,096 1,905 1,910
550 346 550 5,448 6,831 1,958 1,968
578 350 578 5,088 6,816 2,047 1,967
578 350 578 5,379 6,584 2,117 1,963
637 384 673 5,313 6,662 2,119 2,018
(2) (2) 15 4 (3) (3) 9 2
(16) (10) (20) 18 7 (10) (5) 8 3
538 345 538 6,266 7,096 1,905 1,910
637 384 673 5,313 6,662 2,119 2,018
(16) (10) (20) 18 7 (10) (5) 8 3
8,709 9,351
7,956 9,145
7,713 9,133
8,074 8,897
8,069 9,064
8,709 9,351
8,069 9,064
(a) (b) (c)
Unrealized gains/(losses) contain reversals of unrealized gains and losses that were recognized in prior periods and have now been realized. Included in principal transactions revenue in the Consolidated Statements of Income. Unfunded commitments to third-party private equity funds were $232 million, $251 million, $323 million, $370 million and $398 million at September 30, 2013, June 30, 2013, March 31, 2013, December 31, 2012 and September 30, 2012, respectively.
Page 31
CREDIT-RELATED INFORMATION
(in millions) Sep 30, 2013 Change Jun 30, Sep 30, 2013 2012
Sep 30, 2013 CREDIT EXPOSURE Consumer, excluding credit card loans (a) Loans retained, excluding PCI loans Home equity Prime mortgage, including option ARMs Subprime mortgage Auto Business banking Student and other Total loans retained, excluding PCI loans Loans - PCI Home equity Prime mortgage Subprime mortgage Option ARMs Total loans - PCI Total loans retained Loans held-for-sale Total consumer, excluding credit card loans Credit card loans Loans retained (b) Loans held-for-sale Total credit card loans Total consumer loans Wholesale loans (c) Loans retained Loans held-for-sale and loans at fair value Total wholesale loans Total loans Derivative receivables Receivables from customers and other (d) Total credit-related assets Lending-related commitments Consumer, excluding credit card Credit card Wholesale Total lending-related commitments Total credit exposure Memo: Total by category Consumer exposure (e) Wholesale exposures (f) Total credit exposure
Jun 30, 2013
Mar 31, 2013
Dec 31, 2012
Sep 30, 2012
59,825 85,067 7,376 50,810 18,710 11,664 233,452 19,411 12,487 4,297 18,564 54,759 288,211 139 288,350
62,326 79,179 7,703 50,865 18,730 11,849 230,652 19,992 12,976 4,448 19,320 56,736 287,388 708 288,096
64,798 77,626 8,003 50,552 18,739 11,927 231,645 20,525 13,366 4,561 19,985 58,437 290,082 290,082
67,385 76,256 8,255 49,913 18,883 12,191 232,883 20,971 13,674 4,626 20,466 59,737 292,620 292,620
69,686 75,636 8,552 48,920 18,568 12,521 233,883 21,432 14,038 4,702 21,024 61,196 295,079 295,079
(4) % 7 (4) (2) 1 (3) (4) (3) (4) (3) (80) -
(14) % 12 (14) 4 1 (7) (9) (11) (9) (12) (11) (2) NM (2)
123,672 310 123,982 412,332
124,288 124,288 412,384
121,865 121,865 411,947
127,993 127,993 420,613
124,431 106 124,537 419,616
NM -
(1) 192 (2)
310,588 5,759 316,347 728,679 66,788 24,618 91,406
308,208 4,994 313,202 725,586 73,751 23,852 97,603
310,582 6,357 316,939 728,886 70,609 30,111 100,720
306,222 6,961 313,183 733,796 74,983 23,761 98,744
297,576 4,755 302,331 721,947 79,963 18,946 98,909
1 15 1 (9) 3 (6)
4 21 5 1 (16) 30 (8)
58,787 532,251 449,067 1,040,105 $ 1,860,190
62,303 532,359 445,472 1,040,134 $ 1,863,323
60,874 537,455 435,281 1,033,610 $ 1,863,216
60,156 533,018 434,814 1,027,988 $ 1,860,528
62,183 534,333 422,557 1,019,073 $ 1,839,929
(6) 1 -
(5) 6 2 1
$ 1,003,499 856,691 $ 1,860,190
$ 1,007,175 856,148 $ 1,863,323
$ 1,010,399 852,817 $ 1,863,216
$ 1,013,900 846,628 $ 1,860,528
$ 1,016,241 823,688 $ 1,839,929
(1) 4 1
(a) (b) (c) (d) (e) (f)
Includes loans reported in CCB, and prime mortgage loans reported in the AM business segment and in Corporate/Private Equity. Includes accrued interest and fees net of an allowance for the uncollectible portion of accrued interest and fee income. Includes loans reported in CIB, CB and AM business segments and Corporate/Private Equity. Predominantly includes receivables from customers, which represent margin loans to prime and retail brokerage customers; these are classified in accrued interest and accounts receivable on the Consolidated Balance Sheets. Represents total consumer loans and consumer lending-related commitments. Represents total wholesale loans, wholesale lending-related commitments, derivative receivables and receivables from customers. Page 32
CREDIT-RELATED INFORMATION, CONTINUED

(in millions, except ratio data) Sep 30, 2013 Change Jun 30, Sep 30, 2013 2012
Sep 30, 2013 NONPERFORMING ASSETS Consumer, excluding credit card loans Home equity Prime mortgage, including option ARMs Subprime mortgage Auto Business banking Student and other Total consumer, excluding credit card loans Total credit card loans Total consumer nonaccrual loans (a) Wholesale loans Loans retained Loans held-for-sale and loans at fair value Total wholesale loans Total nonaccrual loans Derivative receivables Assets acquired in loan satisfactions Total nonperforming assets (b) Wholesale lending-related commitments (c) Total nonperforming exposure (b) NONACCRUAL LOAN-RELATED RATIOS Total nonaccrual loans to total loans Total consumer, excluding credit card nonaccrual loans to total consumer, excluding credit card loans Total wholesale nonaccrual loans to total wholesale loans NONPERFORMING ASSETS BY LINE OF BUSINESS Consumer & Community Banking (a) Corporate & Investment Bank Commercial Banking Asset Management Corporate/Private Equity (d) TOTAL
Jun 30, 2013
Mar 31, 2013
Dec 31, 2012
Sep 30, 2012
2,848 3,124 1,485 125 413 81 8,076 1 8,077
2,986 3,330 1,594 126 454 86 8,576 1 8,577
3,104 3,479 1,792 135 458 80 9,048 1 9,049
3,208 3,445 1,807 163 481 70 9,174 1 9,175
3,254 3,570 1,868 172 521 75 9,460 1 9,461
(5) % (6) (7) (1) (9) (6) (6) (6)
(12) % (12) (21) (27) (21) 8 (15) (15)
950 69 1,019 9,096 431 704 10,231 244 10,475
1,001 156 1,157 9,734 448 714 10,896 283 $ 11,179 $
1,247 130 1,377 10,426 412 746 11,584 244 11,828
1,434 111 1,545 10,720 239 775 11,734 355 12,089
1,663 246 1,909 11,370 282 829 12,481 586 13,067
(5) (56) (12) (7) (4) (1) (6) (14) (6)
(43) (72) (47) (20) 53 (15) (18) (58) (20)
1.25 2.80 0.32
1.34 2.98 0.37
1.43 % 3.12 0.43
1.46 % 3.14 0.49
1.57 % 3.21 0.63
8,673 706 585 203 64 10,231
9,171 869 543 247 66 10,896
9,666 911 681 263 63 11,584
9,791 920 687 263 73 11,734
10,096 1,160 908 242 75 12,481
(5) (19) 8 (18) (3) (6)
(14) (39) (36) (16) (15) (18)
(a) (b)
(c) (d)
Excludes PCI loans. Because the Firm is recognizing interest income on each pool of PCI loans, they are all considered to be performing. At September 30, 2013, June 30, 2013, March 31, 2013, December 31, 2012 and September 30, 2012, nonperforming assets excluded: (1) mortgage loans insured by U.S. government agencies of $8.9 billion, $10.1 billion, $10.9 billion, $10.6 billion and $11.0 billion, respectively, that are 90 or more days past due; (2) real estate owned insured by U.S. government agencies of $1.9 billion, $1.8 billion, $1.7 billion, $1.6 billion and $1.5 billion, respectively; and (3) student loans insured by U.S. government agencies under the FFELP of $456 million, $488 million, $523 million, $525 million and $536 million, respectively, that are 90 or more days past due. These amounts are excluded as reimbursement of insured amounts is proceeding normally. In addition, the Firm's policy is generally to exempt credit card loans from being placed on nonaccrual status as permitted by regulatory guidance issued by the Federal Financial Institutions Examination Council (FFIEC). Credit card loans are charged off by the end of the month in which the account becomes 180 days past due or within 60 days from receiving notification about a specified event (e.g., bankruptcy of the borrower), whichever is earlier. Represents commitments that are risk rated as nonaccrual. Predominantly relates to retained prime mortgage loans.
Page 33

(in millions, except ratio data)
QUARTERLY TRENDS 3Q13 GROSS CHARGE-OFFS Consumer, excluding credit card loans (a) Credit card loans Total consumer loans Wholesale loans Total gross charge-offs GROSS RECOVERIES Consumer, excluding credit card loans Credit card loans Total consumer loans Wholesale loans Total gross recoveries NET CHARGE-OFFS/(RECOVERIES) Consumer, excluding credit card loans (a) Credit card loans Total consumer loans Wholesale loans Total net charge-offs/(recoveries) NET CHARGE-OFF/(RECOVERY) RATES Consumer retained, excluding credit card loans (a) Credit card retained loans Total consumer retained loans Wholesale retained loans Total retained loans Consumer retained loans, excluding credit card and PCI loans (a) Consumer retained loans, excluding PCI loans (a) Total retained, excluding PCI loans Memo: Average retained loans Consumer retained, excluding credit card loans Credit card retained loans Total average retained consumer loans Wholesale retained loans Total average retained loans Consumer retained, excluding credit card and PCI loans Consumer retained, excluding PCI loans Total retained, excluding PCI loans $ 534 1,047 1,581 74 1,655 $ 2Q13 575 1,166 1,741 50 1,791 $ 1Q13 720 1,248 1,968 66 2,034 $ 4Q12 804 1,261 2,065 133 2,198 $ 3Q12 1,813 1,284 3,097 48 3,145 3Q13 Change 2Q13 3Q12 (7) % (10) (9) 48 (8) (71) % (18) (49) 54 (47) $
NINE MONTHS ENDED SEPTEMBER 30, 2013 Change 2013 2012 2012 1,829 3,461 5,290 190 5,480 $ 4,001 4,494 8,495 213 8,708 (54) % (23) (38) (11) (37)
106 155 261 48 309
119 152 271 117 388
112 166 278 31 309
115 164 279 291 570
125 168 293 82 375
(11) 2 (4) (59) (20)
(15) (8) (11) (41) (18)
337 473 810 196 1,006
393 647 1,040 233 1,273
(14) (27) (22) (16) (21)
428 892 1,320 26 1,346
456 1,014 1,470 (67) 1,403
608 1,082 1,690 35 1,725
689 1,097 1,786 (158) 1,628
1,688 1,116 2,804 (34) 2,770
(6) (12) (10) NM (4)
(75) (20) (53) NM (51)
1,492 2,988 4,480 (6) 4,474
3,608 3,847 7,455 (20) 7,435
(59) (22) (40) 70 (40)
0.59 % 2.86 1.27 0.03 0.74 0.73 1.47 0.81
0.63 % 3.31 1.43 (0.09) 0.78 0.79 1.66 0.85
0.85 % 3.55 1.65 0.05 0.97 1.06 1.92 1.06
0.93 % 3.50 1.70 (0.21) 0.90 1.18 1.99 0.98
2.26 % 3.57 2.65 (0.05) 1.53 2.85 3.10 1.68
0.69 % 3.24 1.45 0.83 0.86 1.68 0.90
1.59 % 4.11 2.33 (0.01) 1.39 2.02 2.74 1.52
287,729 123,845 411,574 306,008 717,582
289,158 122,855 412,013 308,277 720,290
291,588 123,564 415,152 303,919 719,071
293,544 124,701 418,245 300,690 718,935
297,472 124,230 421,702 297,369 719,071
1 (1) -
(3) (2) 3 -
289,478 123,422 412,900 306,076 718,976
302,200 125,143 427,343 289,055 716,398
(4) (1) (3) 6 -
232,100 355,945 661,941
231,655 354,510 662,776
232,503 356,067 659,972
233,108 357,809 658,479
235,713 359,943 657,293
(2) (1) 1
232,085 355,507 661,570
238,924 364,067 653,103
(3) (2) 1
(a)
Net charge-offs and net charge-off rates for the three months ended September 30, 2012 included $825 million and $55 million of Chapter 7 loans related to residential real estate and auto loans, respectively. Excluding these charge-offs, consumer retained loans, excluding credit card, consumer retained loans, excluding credit card and PCI loans, and consumer retained loans, excluding PCI loans net charge-off rates would have been 1.08%, 1.36% and 2.13%, respectively, for the three months ended September 30, 2012. For further information, see Consumer Credit Portfolio on pages 138-149 of JPMorgan Chase's 2012 Annual Report.
Page 34

(in millions)
QUARTERLY TRENDS 3Q13 SUMMARY OF CHANGES IN THE ALLOWANCES ALLOWANCE FOR LOAN LOSSES Beginning balance Net charge-offs Provision for loan losses Other Ending balance ALLOWANCE FOR LENDING-RELATED COMMITMENTS Beginning balance Provision for lending-related commitments Other Ending balance Total allowance for credit losses ALLOWANCE FOR LOAN LOSSES BY LOB Consumer & Community Banking Corporate & Investment Bank Commercial Banking Asset Management Corporate/Private Equity Total 2Q13 1Q13 4Q12 3Q12 3Q13 Change 2Q13 3Q12
19,384 1,346 (467) 17,571
20,780 1,403 10 (3) 19,384
21,936 1,725 569 20,780
22,824 1,628 740 21,936
23,791 2,770 1,801 2 22,824
(7) % (4) NM NM (9)
(19) % (51) NM NM (23)
21,936 4,474 112 (3) 17,571
27,609 7,435 2,647 3 22,824
(21) % (40) (96) NM (23)
$ $
753 (76) 677 18,248
$ $
716 37 753 20,137
$ $
668 48 716 21,496
$ $
752 (84) 668 22,604
$ $
764 (12) 752 23,576
5 NM (10) (9)
(1) NM (10) (23)
$ $
668 9 677 18,248
$ $
673 82 (3) 752 23,576
(1) (89) NM (10) (23)
13,500 1,138 2,647 260 26 17,571
15,095 1,287 2,691 270 41 19,384
16,599 1,246 2,656 249 30 20,780
17,752 1,300 2,610 248 26 21,936
18,454 1,459 2,653 229 29 22,824
(11) (12) (2) (4) (37) (9)
(27) (22) 14 (10) (23)
13,500 1,138 2,647 260 26 17,571
18,454 1,459 2,653 229 29 22,824
(27) (22) 14 (10) (23)
Page 35

Sep 30, 2013 ALLOWANCE COMPONENTS AND RATIOS ALLOWANCE FOR LOAN LOSSES Consumer, excluding credit card Asset-specific (a) Formula-based PCI Total consumer, excluding credit card Credit card Asset-specific (a) Formula-based Total credit card Total consumer Wholesale Asset-specific (a) Formula-based Total wholesale Total allowance for loan losses Allowance for lending-related commitments Total allowance for credit losses CREDIT RATIOS Consumer, excluding credit card allowance, to total consumer, excluding credit card retained loans Credit card allowance to total credit card retained loans Wholesale allowance to total wholesale retained loans Wholesale allowance to total wholesale retained loans, excluding trade finance and conduits (b) Total allowance to total retained loans Consumer, excluding credit card allowance, to consumer, excluding credit card retained nonaccrual loans (c) Total allowance, excluding credit card allowance, to retained nonaccrual loans, excluding credit card nonaccrual loans (c) Wholesale allowance to wholesale retained nonaccrual loans Total allowance to total retained nonaccrual loans CREDIT RATIOS, excluding PCI loans Consumer, excluding credit card allowance, to total consumer, excluding credit card retained loans Total allowance to total retained loans Consumer, excluding credit card allowance, to consumer, excluding credit card retained nonaccrual loans (c) Allowance, excluding credit card allowance, to retained nonaccrual loans, excluding credit card nonaccrual loans (c) Total allowance to total retained nonaccrual loans
Jun 30, 2013
Mar 31, 2013
Dec 31, 2012
Sep 30, 2012
689 3,798 4,961 9,448 1,080 3,017 4,097 13,545 209 3,817 4,026 17,571 677 18,248
713 4,267 5,711 10,691 1,227 3,218 4,445 15,136 228 4,020 4,248 19,384 753
771 5,163 5,711 11,645 1,434 3,564 4,998 16,643 228 3,909 4,137 20,780 716 21,496
729 5,852 5,711 12,292 1,681 3,820 5,501 17,793 319 3,824 4,143 21,936 668 22,604
918 6,359 5,711 12,988 1,909 3,594 5,503 18,491 388 3,945 4,333 22,824 752 23,576
(3) % (11) (13) (12) (12) (6) (8) (11) (8) (5) (5) (9) (10) (9)
(25) % (40) (13) (27) (43) (16) (26) (27) (46) (3) (7) (23) (10) (23)
20,137
3.28 3.31 1.30 1.52 2.43 117 149 424 195
3.72 3.58 1.38 1.65 2.69 125 156 424 202
4.01 4.10 1.33 1.61 2.88 129 153 332 202
4.20 4.30 1.35 1.66 3.02 134 155 289 207
4.40 4.42 1.46 1.80 3.18 137 156 261 205
1.92 1.89 56 94 140
2.16 2.06 58 96 143
2.56 2.27 66 98 146
2.83 2.43 72 101 153
3.11 2.61 77 104 154
(a) (b) (c)
Includes risk-rated loans that have been placed on nonaccrual status and loans that have been modified in a troubled debt restructuring (TDR). Management uses allowance for loan losses to period-end loans retained, excluding CIB's trade finance and conduits, a non-GAAP financial measure, as it is a more relevant metric to reflect the allowance coverage of the retained wholesale loan portfolio. The Firm's policy is generally to exempt credit card loans from being placed on nonaccrual status as permitted by regulatory guidance. Under guidance issued by the FFIEC, nonmodified credit card loans are charged off by the end of the month in which the account becomes 180 days past due, while modified credit card loans are charged off when the account becomes 120 days past due. In addition, all credit card loans must be charged off within 60 days of receiving notification about certain specified events (e.g., bankruptcy of the borrower).
Page 36

(in millions) QUARTERLY TRENDS 3Q13 PROVISION FOR CREDIT LOSSES BY LINE OF BUSINESS Provision for loan losses Consumer & Community Banking Corporate & Investment Bank Commercial Banking Asset Management Corporate/Private Equity Total provision for loan losses Provision for lending-related commitments Consumer & Community Banking Corporate & Investment Bank Commercial Banking Asset Management Corporate/Private Equity Total provision for lending-related commitments Provision for credit losses Consumer & Community Banking Corporate & Investment Bank Commercial Banking Asset Management Corporate/Private Equity Total provision for credit losses 2Q13 1Q13 4Q12 3Q12 3Q13 Change 2Q13 3Q12 NINE MONTHS ENDED SEPTEMBER 30, 2013 Change 2013 2012 2012
(267) (152) (29) (1) (18) (467)
(20) (41) 43 23 5 10
549 (37) 40 20 (3) 569
1,091 (373) 10 19 (7) 740
1,862 (62) (4) 15 (10) 1,801
NM % (271) NM NM NM NM
NM % (145) NM NM (80) NM
262 (230) 54 42 (16) 112
2,683 (112) 37 69 (30) 2,647
(90) % (105) 46 (39) 47 (96)
(66) (12) 1 1 (76)
1 35 1 37
48 (1) 1 48
(72) (13) 1 (84)
2 (12) (1) (1) (12)
NM NM NM NM NM NM
NM NM NM NM
1 17 (12) 2 1 9
78 7 (2) (1) 82
NM (78) NM NM NM (89)
(267) (218) (41) (17) (543)
(19) (6) 44 23 5 47
549 11 39 21 (3) 617
1,091 (445) (3) 19 (6) 656
1,862 (60) (16) 14 (11) 1,789
NM NM NM NM NM NM
NM (263) (156) NM (55) NM
263 (213) 42 44 (15) 121
2,683 (34) 44 67 (31) 2,729
(90) NM (5) (34) 52 (96)
PROVISION FOR CREDIT LOSSES BY PORTFOLIO SEGMENT Provision for loan losses Consumer, excluding credit card Credit card Total consumer Wholesale Total provision for loan losses Provision for lending-related commitments Consumer, excluding credit card Credit card Total consumer Wholesale Total provision for lending-related commitments Provision for credit losses Consumer, excluding credit card Credit card Total consumer Wholesale Total provision for credit losses
(815) 542 (273) (194) (467)
(494) 464 (30) 40 10
(37) 582 545 24 569
(12) 1,097 1,085 (345) 740
737 1,116 1,853 (52) 1,801
(65) 17 NM NM NM
NM (51) NM (273) NM
(1,346) 1,588 242 (130) 112
314 2,347 2,661 (14) 2,647
NM (32) (91) NM (96)
(76) (76)
1 1 36 37
48 48
1 1 (85) (84)
(1) (1) (11) (12)
NM NM NM NM
NM NM NM NM
1 1 8 9
(1) (1) 83 82
NM NM (90) (89)
(815) 542 (273) (270) (543)
(493) 464 (29) 76 47
(37) 582 545 72 617
(11) 1,097 1,086 (430) 656
736 1,116 1,852 (63) 1,789
(65) 17 NM NM NM
NM (51) NM (329) NM
(1,345) 1,588 243 (122) 121
313 2,347 2,660 69 2,729
NM (32) (91) NM (96)
Page 37
MARKET RISK-RELATED INFORMATION

(in millions)
QUARTERLY TRENDS 3Q13 95% Confidence Level - Total VaR (average) CIB trading VaR by risk type: (a) Fixed income (b) Foreign exchange Equities Commodities and other Diversification benefit to CIB trading VaR (c) CIB trading VaR (a) Credit portfolio VaR (d) Diversification benefit to CIB trading and credit portfolio VaR (c) Total CIB trading and credit portfolio VaR (a)(b) Other VaR: Mortgage Production and Servicing VaR (e) Treasury & Chief Investment Office VaR (b)(f) Other VaR (g) Diversification benefit to total VaR (c) Total other VaR Diversification benefit to total CIB and other VaR (c) Total VaR (b)(h) 2Q13 1Q13 4Q12 3Q12 3Q13 Change 2Q13 3Q12
43 7 13 13 (34) 42 12 (9) 45
35 7 14 13 (33) 36 13 (9) 40
55 7 13 15 (34) 56 15 (9) 62
86 8 27 14 (38) 97 19 (10) 106
118 10 19 13 (48) 112 22 (12) 122
23 % (7) (3) 17 (8) 13
(64) % (30) (32) 29 (63) (45) 25 (63)
44 7 13 14 (33) 45 13 (9) 49
81 10 19 16 (46) 80 26 (13) 93
(46) % (30) (32) (13) 28 (44) (50) 31 (47)
10 5 4 (8) 11 (9) 47
15 5 5 (10) 15 (10) 45
19 11 4 (13) 21 (10) 73
26 6 3 (9) 26 (12) 120
17 54 4 (14) 61 (68) 115
(33) (20) 20 (27) 10 4
(41) (91) 43 (82) 87 (59)
15 7 4 (10) 16 (10) 55
14 120 (i) 4 (12) 126 (57) 162
7 (94) 17 (87) 82 (66)
(a) (b)
(c) (d) (e) (f) (g) (h) (i)
CIB trading VaR includes substantially all market-making and client-driven activities, as well as certain risk management activities in CIB, including credit spread sensitivity to CVA. CIB trading VaR does not include the DVA on structured notes and derivative liabilities to reflect the credit quality of the Firm. For further information, see VaR measurement on pages 95-98 of JPMorgan Chase's 2Q13 Form 10-Q. Effective in the fourth quarter of 2012, CIB's VaR includes the VaR of the former reportable business segments, Investment Bank and Treasury & Securities Services (TSS), which were combined to form the CIB business segment. TSS VaR was not material and was previously classified within Other VaR. Prior period VaR disclosures were not revised as a result of the business segment reorganization. On July 2, 2012, CIO transferred its synthetic credit portfolio, other than a portion aggregating to approximately $12 billion notional, to the CIB; CIO's retained portfolio was effectively closed out during the three months ended September 30, 2012. During the third quarter of 2012, the Firm applied a new VaR model to calculate VaR for the synthetic credit portfolio that had been transferred to CIB. In the first quarter of 2013, in order to achieve consistency among like products within CIB and in conjunction with the implementation of Basel 2.5 requirements, the Firm moved the synthetic credit portfolio to an existing VaR model within the CIB. This change had an insignificant impact to the average fixed income VaR and average total CIB trading and credit portfolio VaR, and it had no impact to the average total VaR compared with the model used in the third and fourth quarters of 2012. For further information regarding these VaR Model impacts on prior periods, see Market Risk Management on pages 77-80 and 95-99 of JPMorgan Chases Form 10-Q for the quarterly periods ended March 31, 2013 and June 30, 2013, respectively. Average portfolio VaR was less than the sum of the VaR of the components described above, which is due to portfolio diversification. The diversification effect reflects the fact that the risks were not perfectly correlated. Credit portfolio VaR includes the derivative CVA, hedges of the CVA and hedges of the retained loan portfolio, which are reported in principal transactions revenue. This VaR does not include the retained loan portfolio, which is not reported at fair value. Mortgage Production and Mortgage Servicing VaR includes the Firm's mortgage pipeline and warehouse loans, MSRs and all related hedges. Treasury and CIO VaR includes positions, primarily in securities and derivatives, which are measured at fair value through earnings. Other VaR includes certain securities and derivatives in Asset Management. Total VaR does not include the retained Credit portfolio, which is not reported at fair value; however, it does include hedges of those positions, which are reported at fair value. It also does not include DVA on structured notes and derivative liabilities to reflect the credit quality of the Firm, principal investments; and longer-term securities investments managed by CIO that are classified as available-for-sale; for further information see VaR measurement on pages 95-98 of JPMorgan Chase's 2Q13 Form 10-Q. On August 9, 2012, the Firm restated its 2012 first quarter financial statements. See the Firm's Form 10-Q/A for the quarter ended March 31, 2012 for further information on the restatement. The CIO VaR amount for the first quarter of 2012 has not been recalculated to reflect the restatement.
Page 38
CAPITAL AND OTHER SELECTED BALANCE SHEET ITEMS

Sep 30, 2013 CAPITAL (a) Tier 1 capital Total capital Tier 1 common capital (b) Risk-weighted assets Adjusted average assets (c) Tier 1 capital ratio Total capital ratio Tier 1 leverage ratio Tier 1 common capital ratio (b) TANGIBLE COMMON EQUITY (period-end) (d) Common stockholders' equity Less: Goodwill Less: Other intangible assets Add: Deferred tax liabilities (e) Total tangible common equity TANGIBLE COMMON EQUITY (average) (d) Common stockholders' equity Less: Goodwill Less: Other intangible assets Add: Deferred tax liabilities (e) Total tangible common equity INTANGIBLE ASSETS (period-end) Goodwill Mortgage servicing rights Purchased credit card relationships All other intangibles Total intangible assets DEPOSITS (period-end) U.S. offices: Noninterest-bearing Interest-bearing Non-U.S. offices: Noninterest-bearing Interest-bearing Total deposits (a) (b) (c) (d) (e) (f) (g)
Jun 30, 2013
Mar 31, 2013
Dec 31, 2012
Sep 30, 2012
161,349 196,269 144,588 1,376,409 2,327,475 11.7 14.3 6.9 10.5
(f)(g) (f) (f) (f) (f) (f)(g) (f) (f) (f)
164,027 199,148 146,957 1,410,081 2,333,416 11.6 % 14.1 7.0 10.4
163,807 198,926 143,255 1,406,948 2,255,697 11.6 14.1 7.3 10.2
160,002 194,036 140,342 1,270,378 2,243,242 12.6 % 15.3 7.1 11.0
154,686 190,485 135,065 1,296,512 2,186,292 11.9 % 14.7 7.1 10.4
(2) % (1) (2) (2) -
4 % 3 7 6 6
161,349 196,269 144,588 1,376,409 2,327,475 11.7 14.3 6.9 10.5
(f)(g) (f) (f) (f) (f) (f)(g) (f) (f) (f)
154,686 190,485 135,065 1,296,512 2,186,292 11.9 14.7 7.1 10.4
4 % 3 7 6 6 %
195,512 48,100 1,817 2,921 148,516
197,781 48,057 1,951 2,886 150,659
197,128 48,067 2,082 2,852 149,831
195,011 48,175 2,235 2,803 147,404
190,635 48,178 2,641 2,780 142,596
(1) (7) 1 (1)
3 (31) 5 4
195,512 48,100 1,817 2,921 148,516
190,635 48,178 2,641 2,780 142,596
3 (31) 5 4
197,232 48,073 1,878 2,904 150,185
197,283 48,078 2,026 2,869 150,048
194,733 48,168 2,162 2,828 147,231
191,975 48,172 2,547 2,792 144,048
186,590 48,158 2,729 2,765 138,468
(7) 1 -
6 (31) 5 8
196,425 48,106 2,021 2,867 149,165
181,791 48,178 2,928 2,741 133,426
8 (31) 5 12
48,100 9,490 176 1,641 59,407
48,057 9,335 221 1,730 59,343
48,067 7,949 242 1,840 58,098
48,175 7,614 295 1,940 58,024
48,178 7,080 409 2,232 57,899
2 (20) (5) -
34 (57) (26) 3
48,100 9,490 176 1,641 59,407
48,178 7,080 409 2,232 57,899
34 (57) (26) 3
399,658 605,305
362,314 580,091
363,780 571,334
380,320 552,106
363,388 509,407
10 4 7 6 6
10 19 29 2 12
399,658 605,305
363,388 509,407
10 19 29 2 12
20,964 255,175 $ 1,281,102
19,515 241,030 $ 1,202,950
19,979 247,414 $ 1,202,507
17,845 243,322 $ 1,193,593
16,192 250,624 $ 1,139,611
20,964 255,175 $ 1,281,102
16,192 250,624 $ 1,139,611
In the first quarter of 2013, the Firm implemented Basel 2.5. For further information, see footnote (f) on page 2. The Firm uses Tier 1 common capital along with the other capital measures to assess and monitor its capital position. The Tier 1 common capital ratio, a non-GAAP financial measure, is Tier 1 common capital divided by risk-weighted assets. For further discussion of the Tier 1 common capital ratio, see page 42. Adjusted average assets, for purposes of calculating the leverage ratio, includes total quarterly average assets adjusted for unrealized gains/(losses) on securities, less deductions for disallowed goodwill and other intangible assets, investments in certain subsidiaries, and the total adjusted carrying value of nonfinancial equity investments that are subject to deductions from Tier 1 capital. For further discussion of TCE, see page 42. Represents deferred tax liabilities related to tax-deductible goodwill and to identifiable intangibles created in non-taxable transactions, which are netted against goodwill and other intangibles when calculating TCE. Estimated. At September 30, 2013, TruPS included in Tier 1 capital were $5.3 billion. If these securities were excluded from the calculation at September 30, 2013, Tier 1 capital would have been $156.1 billion and the Tier 1 capital ratio would have been 11.3%.
Page 39
MORTGAGE REPURCHASE LIABILITY

(in millions)
QUARTERLY TRENDS 3Q13 MORTGAGE REPURCHASE LIABILITY (a)(b) Summary of changes in mortgage repurchase liability: Repurchase liability at beginning of period Net realized losses (c) Provision for repurchase losses (d) Repurchase liability at end of period Outstanding repurchase demands and unresolved mortgage insurance rescission notices by counterparty type: (e) GSEs Mortgage insurers Other (f) Overlapping population (g) Total Mortgage repurchase demands received by loan origination vintage: (e) Pre-2005 2005 2006 2007 2008 Post-2008 Total 2Q13 1Q13 4Q12 3Q12 3Q13 Change 2Q13 3Q12
2,476 (135) (159) 2,182
2,674 (191) (7) 2,476
2,811 (212) 75 2,674
3,099 (267) (21) 2,811
3,293 (268) 74 3,099
(7) % 29 NM (12)
(25) % 50 NM (30)
2,811 (538) (91) 2,182
3,557 (891) 433 3,099
(21) % 40 NM (30)
1,601 780 1,322 (45) 3,658
970 852 1,072 (51) 2,843
1,022 924 992 (64) 2,874
1,166 1,014 887 (86) 2,981
1,533 1,036 1,697 (150) 4,116
65 (8) 23 12 29
4 (25) (22) 70 (11)
1,601 780 1,322 (45) 3,658
1,533 1,036 1,697 (150) 4,116
4 (25) (22) 70 (11)
135 308 515 690 265 79 1,992
53 116 258 546 113 60 1,146
45 217 287 419 151 62 1,181
42 42 292 241 114 87 818
33 103 963 371 196 124 1,790
155 166 100 26 135 32 74
309 199 (47) 86 35 (36) 11
233 641 1,060 1,655 529 201 4,319
102 263 1,844 1,436 868 439 4,952
128 144 (43) 15 (39) (54) (13)
(a) (b) (c) (d) (e) (f) (g)
For further details regarding the Firm's mortgage repurchase liability, see Mortgage repurchase liability on pages 111-115 and Note 29 on pages 308-315 of JPMorgan Chase's 2012 Annual Report. All mortgage repurchase demands associated with private-label securitizations are separately evaluated by the Firm in establishing its litigation reserves. Presented net of third-party recoveries and includes principal losses and accrued interest on repurchased loans, make-whole settlements, settlements with claimants, and certain related expense. Make-whole settlements were $117 million, $133 million, $121 million, $137 million and $94 million for the three months ended September 30, 2013, June 30, 2013, March 31, 2013, December 31, 2012 and September 30, 2012, respectively, and $371 million and $387 million for the nine months ended September 30, 2013 and 2012, respectively. Included $4 million, $6 million, $8 million, $27 million and $30 million of provision related to new loan sales for the three months ended September 30, 2013, June 30, 2013, March 31, 2013, December 31, 2012 and September 30, 2012, respectively, and $18 million and $85 million for the nine months ended September 30, 2013 and 2012, respectively. Excludes amounts related to Washington Mutual. Represents repurchase demands received from parties other than the GSEs that have been presented to the Firm by trustees who assert authority to present such claims under the terms of the underlying sale or securitization agreement, and excludes repurchase demands asserted in or arising in connection with pending repurchase litigation. Because the GSEs and others may make repurchase demands based on mortgage insurance rescission notices that remain unresolved, certain loans may be subject to both an unresolved mortgage insurance rescission notice and an outstanding repurchase demand.
Page 40
PER SHARE-RELATED INFORMATION

(in millions, except per share and ratio data) QUARTERLY TRENDS 3Q13 EARNINGS PER SHARE DATA Basic earnings per share: Net income/(loss) Less: Preferred stock dividends Net income/(loss) applicable to common equity Less: Dividends and undistributed earnings allocated to participating securities Net income/(loss) applicable to common stockholders Total weighted-average basic shares outstanding Net income/(loss) per share Diluted earnings per share: Net income/(loss) applicable to common stockholders Total weighted-average basic shares outstanding Add: Employee stock options, SARs and warrants (a) Total weighted-average diluted shares outstanding (b) Net income/(loss) per share COMMON SHARES OUTSTANDING Common shares - at period end Cash dividends declared per share Book value per share Tangible book value per share (c) Dividend payout ratio SHARE PRICE (d) High Low Close Market capitalization COMMON EQUITY REPURCHASE PROGRAM (e) Aggregate common equity repurchased Common equity repurchased Average purchase price $ $ 2Q13 1Q13 4Q12 3Q12 3Q13 Change 2Q13 3Q12 NINE MONTHS ENDED SEPTEMBER 30, 2013 Change 2013 2012 2012
(380) 229 (609) 41 (650) 3,767.0 (0.17)
6,496 204 6,292 191 6,101 3,782.4
6,529 182 6,347 216 6,131 3,818.2
5,692 175 5,517 195 5,322 3,806.7
5,708 163 5,545 199 5,346 3,803.3
NM % 12 NM (79) NM NM
NM % 40 NM (79) NM (1) NM
12,645 615 12,030 374 11,656 3,789.2
15,592 478 15,114 558 14,556 3,810.4
(19) % 29 (20) (33) (20) (1) (19)
1.61
1.61
1.40
1.41
3.08
3.82
(650) 3,767.0 3,767.0 (0.17) (f)
6,101 3,782.4 31.9 3,814.3
6,131 3,818.2 28.8 3,847.0
5,322 3,806.7 14.2 3,820.9
5,346 3,803.3 10.6 3,813.9
NM NM (1) NM
NM (1) NM (1) NM
11,656 3,789.2 31.7 3,820.9
14,556 3,810.4 12.2 3,822.6
(20) (1) 160 (20)
1.60
1.59
1.39
1.40
3.05
3.81
3,759.2 0.38 52.01 39.51 NM %
3,769.0 0.38 (g) 52.48 39.97 23 %
3,789.8 0.30 52.02 39.54 19 %
3,804.0 0.30 51.27 38.75 21 %
3,799.6 0.30 50.17 37.53 21 %
(1) (1)
(1) 27 4 5
3,759.2 1.06 (g) 52.01 39.51 34 %
3,799.6 0.90 50.17 37.53 23 %
(1) 18 4 5
56.93 50.06 51.69 194,312
55.90 46.05 52.79 198,966
51.00 44.20 47.46 179,863
44.54 38.83 43.97 167,260
42.09 33.10 40.48 153,806
2 9 (2) (2)
35 51 28 26
56.93 44.20 51.69 194,312
46.49 30.83 40.48 153,806
22 43 28 26
$ $
739.7 13.6 54.30
$ $
1,171.9 23.5 50.01
$ $
2,578.3 53.5 48.16
$ $
$ $
(37) (42) 9
NM NM NM
$ $
4,489.9 90.6 49.56
$ $
1,653.5 (h) 52.0 (h) 31.79 (h)
172 74 56
(a) (b) (c) (d) (e)
(f) (g) (h)
Excluded from the computation of diluted EPS (due to the antidilutive effect) were options issued under employee benefit plans and the warrants originally issued in 2008 under the U.S. Treasury's Capital Purchase Program to purchase shares of the Firm's common stock. The aggregate number of shares issuable upon the exercise of such options and warrants was 8 million, 13 million, 117 million and 147 million for the three months ended June 30, 2013, March 31, 2013, December 31, 2012 and September 30, 2012, respectively, and 8 million and 158 million for the nine months ended September 30, 2013 and 2012, respectively. Participating securities were included in the calculation of diluted EPS using the two-class method, as this computation was more dilutive than the calculation using the treasury stock method. Tangible book value per share is a non-GAAP financial measure. Tangible book value per share represents the Firm's tangible common equity divided by period-end common shares. For further discussion of this measure, see page 42. For additional information on the listing and trading of JPMorgan Chase's common stock, see page 2. On March 14, 2013, the Firm announced that following the release by the Board of Governors of the Federal Reserve System (Federal Reserve) of the 2013 CCAR results, JPMorgan Chase & Co. is authorized to repurchase $6.0 billion of common equity between April 1, 2013 and March 31, 2014. Such repurchases will be done pursuant to the $15.0 billion common equity (i.e., common stock and warrants) repurchase program previously authorized by the Board of Directors on March 13, 2012. The Federal Reserve has asked the Firm to submit an additional capital plan, and following their review of the resubmission, the Federal Reserve may require the Firm to modify its capital distributions. The resubmission was made by the Firm on September 18, 2013. JPMorgan Chase expects the Federal Reserve to notify the Firm within 75 days of the resubmission of its determination. Due to the net loss applicable to common stockholders during the three months ended September 30, 2013, no common equivalent shares have been included in the computation of diluted earnings per share for the period as the effect would be antidilutive. On May 21, 2013, the Board of Directors of JPMorgan Chase increased the Firm's quarterly common stock dividend from $0.30 to $0.38 per share. Included the impact of aggregate repurchases of 18.5 million warrants during the three months ended June 30, 2012.
Page 41
NON-GAAP FINANCIAL MEASURES
The following are several of the non-GAAP measures that the Firm uses for various reasons, including: (i) to allow management to assess the comparability of revenue arising from both taxable and tax-exempt sources, (ii) to assess and compare the quality and composition of the Firm's capital with the capital of other financial services companies, and (iii) more generally, to provide a more meaningful measure of certain metrics that enables comparability with prior periods, as well as with competitors. (a) In addition to analyzing the Firm's results on a reported basis, management reviews the Firm's results and the results of the lines of business on a managed basis. The Firm's definition of managed basis starts with the reported U.S. GAAP results and includes certain reclassifications to present total net revenue for the Firm (and each of the business segments) on a FTE basis. Accordingly, revenue from investments that receive tax credits and tax-exempt securities is presented in the managed results on a basis comparable to taxable investments and securities. This non-GAAP financial measure allows management to assess the comparability of revenue arising from both taxable and tax-exempt sources. The corresponding income tax impact related to tax-exempt items is recorded within income tax expense. These adjustments have no impact on net income/(loss) as reported by the Firm as a whole or by the lines of business. (b) The ratio of the allowance for loan losses to period-end loans excludes the following: loans accounted for at fair value and loans held-for-sale; purchased creditimpaired (PCI) loans; and the allowance for loan losses related to PCI loans. Additionally, Real Estate Portfolios net charge-off rates exclude the impact of PCI loans. The ratio of the wholesale allowance for loan losses to period-end loans retained, excluding trade finance and conduits, is calculated excluding loans accounted for at fair value, loans held-for-sale, CIB's trade finance loans and consolidated Firm-administered multi-seller conduits, as well as their related allowances, to provide a more meaningful assessment of the Firm's wholesale allowance coverage ratio. (c) Tangible common equity (TCE), ROTCE, and Tier 1 common capital under Basel I rules. TCE represents the Firm's common stockholders' equity (i.e., total stockholders' equity less preferred stock) less goodwill and identifiable intangible assets (other than MSRs), net of related deferred tax liabilities. ROTCE measures the Firm's earnings as a percentage of average TCE. Tier 1 common capital and the Tier 1 common ratio under Basel I rules, along with other capital measures, are used by management, bank regulators, investors and analysts to assess and monitor the Firm's capital position. TCE and ROTCE are meaningful to the Firm, as well as investors and analysts, in assessing the Firm's use of equity. For additional information on Tier 1 common under Basel I and III, see Regulatory capital on pages 117-120 of JPMorgan Chase's 2012 Annual Report and pages 60-63 of JPMorgan Chase's second quarter 2013 Form 10-Q. (d) Consumer & Business Banking (CBB) uses the overhead ratio (excluding the amortization of core deposit intangibles ("CDI")) to evaluate the underlying expense trends of the business. Including CDI amortization expense in the overhead ratio calculation would result in a higher overhead ratio in the earlier years and a lower overhead ratio in later years. This method would therefore result in an improving overhead ratio over time, all things remaining equal. The non-GAAP ratio excludes CBB's CDI amortization expense related to prior business combination transactions. (e) Corporate & Investment Bank provides several non-GAAP financial measures which exclude the impact of DVA on: net revenue, net income, compensation ratio, and return on equity. These measures are used by management to assess the underlying performance of the business and for comparability with peers. The ratio of the allowance for loan losses to period-end loans retained is calculated excluding the impact of trade finance loans and consolidated Firm-administered multi-seller conduits as it is a more relevant metric to reflect the allowance coverage of the retained loan portfolio.
Page 42
GLOSSARY OF TERMS
Allowance for loan losses to total loans: Represents period-end allowance for loan losses divided by retained loans. Beneficial interests issued by consolidated VIEs: Represents the interests of thirdparty holders of debt/equity securities, or other obligations, issued by VIEs that JPMorgan Chase consolidates. The underlying obligations of the VIEs consist of short-term borrowings, commercial paper and long-term debt. The related assets consist of trading assets, available-for-sale securities, loans and other assets. bp(s): Basis point(s). Corporate/Private Equity: Comprises Private Equity, Treasury, Chief Investment Office, and Other Corporate, which includes corporate staff units and expense that is centrally managed. Fully taxable-equivalent (FTE) basis: Total net revenue for each of the business segments and the Firm is presented on a fully taxable-equivalent basis. Accordingly, revenue from tax-exempt securities and investments that receive tax credits is presented in the managed results on a basis comparable to fully taxable securities and investments. This non-GAAP financial measure allows management to assess the comparability of revenue arising from both taxable and tax-exempt sources. The corresponding income tax impact related to these items is recorded within income tax expense. GSEs: U.S. government-sponsored enterprise, such as Federal National Mortgage Association ("Fannie Mae") and Federal Home Loan Mortgage Corporation ("Freddie Mac"). Managed basis: A non-GAAP presentation of financial results that includes reclassifications to present revenue on a fully taxable-equivalent basis. Management uses this non-GAAP financial measure at the segment level, because it believes this provides information to enable investors to understand the underlying operational performance and trends of the particular business segment and facilitates a comparison of the business segment with the performance of competitors. MSR risk management revenue: Includes changes in the fair value of the MSR asset due to market-based inputs, such as interest rates and volatility, as well as updates to assumptions used in the MSR valuation model; and derivative valuation adjustments and other, which represents changes in the fair value of derivative instruments used to offset the impact of changes in the market-based inputs to the MSR valuation model. Net charge-off rate: Represents net charge-offs (annualized) divided by average retained loans for the reporting period.
Net yield on interest-earning assets: The average rate for interest-earning assets less the average rate paid for all sources of funds. NM: Not meaningful. Overhead ratio: Noninterest expense as a percentage of total net revenue. Participating securities: Represents unvested stock-based compensation awards containing nonforfeitable rights to dividends or dividend equivalents (collectively, "dividends"), which are included in the earnings per share calculation using the two-class method. JPMorgan Chase grants restricted stock and RSUs to certain employees under its stock-based compensation programs, which entitle the recipients to receive nonforfeitable dividends during the vesting period on a basis equivalent to the dividends paid to holders of common stock. These unvested awards meet the definition of participating securities. Under the two-class method, all earnings (distributed and undistributed) are allocated to each class of common stock and participating securities, based on their respective rights to receive dividends. Pre-provision profit: Pre-provision profit is total net revenue less noninterest expense. The Firm believes that this financial measure is useful in assessing the ability of a lending institution to generate income in excess of its provision for credit losses. Principal transactions revenue: Principal transactions revenue includes realized and unrealized gains and losses recorded on derivatives, other financial instruments, private equity investments, and physical commodities used in market-making and client-driven activities. In addition, principal transactions revenue also includes certain realized and unrealized gains and losses related to hedge accounting and specified risk management activities including: (a) certain derivatives designated in qualifying hedge accounting relationships (primarily fair value hedges of commodity and foreign exchange risk), (b) certain derivatives used for specified risk management purposes, primarily to mitigate credit risk, foreign exchange risk and commodity risk, and (c) other derivatives, including the synthetic credit portfolio.
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GLOSSARY OF TERMS
Purchased credit-impaired (PCI) loans: Represents loans that were acquired in the Washington Mutual transaction and deemed to be credit-impaired on the acquisition date in accordance with the guidance of the Financial Accounting Standards Board ("FASB"). The guidance allows purchasers to aggregate credit-impaired loans acquired in the same fiscal quarter into one or more pools, provided that the loans have common risk characteristics (e.g., product type, LTV ratios, FICO scores, past-due status, geographic location). A pool is then accounted for as a single asset with a single composite interest rate and an aggregate expectation of cash flows. Since each pool is accounted for as a single asset with a single composite interest rate and an aggregate expectation of cash flows, the past-due status of the pools, or that of the individual loans within the pools, is not meaningful. Because the Firm is recognizing interest income on each pool of loans, they are all considered to be performing. Charge-offs are not recorded on PCI loans until actual losses exceed estimated losses that were recorded as purchase accounting adjustments at the time of acquisition. PCI loans as well as the related charge-offs and allowance for loan losses are excluded in the calculation of certain net charge-off rates and allowance coverage ratios. To date, no charge-offs have been recorded for these loans. Receivables from customers: Predominantly represents margin loans to prime and retail brokerage customers which are included in accrued interest and accounts receivable on the Consolidated Balance Sheets. Reported basis: Financial statements prepared under U.S. GAAP. Retained loans: Loans that are held-for-investment, which excludes loans held-for-sale and loans at fair value.
Risk-weighted assets (RWA): Risk-weighted assets consist of on- and off-balance sheet assets that are assigned to one of several broad risk categories and weighted by factors representing their risk and potential for default. On-balance sheet assets are riskweighted based on the perceived credit risk associated with the obligor or counterparty, the nature of any collateral, and the guarantor, if any. Off-balance sheet assets such as lending-related commitments, guarantees, derivatives and other applicable off-balance sheet positions are risk-weighted by multiplying the contractual amount by the appropriate credit conversion factor to determine the on-balance sheet credit equivalent amount, which is then risk-weighted based on the same factors used for on-balance sheet assets. Risk-weighted assets also incorporate a measure for market risk related to applicable trading assets-debt and equity instruments, and foreign exchange and commodity derivatives. The resulting risk-weighted values for each of the risk categories are then aggregated to determine total risk-weighted assets. Troubled debt restructuring (TDR): Occurs when the Firm modifies the original terms of a loan agreement by granting a concession to a borrower that is experiencing financial difficulty. U.S. GAAP: Accounting principles generally accepted in the United States of America. Value-at-risk (VaR): A measure of the dollar amount of potential loss from adverse market movements in an ordinary market environment. For additional information, see Value-at-risk on pages 163-167 of JPMorgan Chase's 2012 Annual Report and pages 95-98 of the Firm's second quarter Form 10-Q.
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GLOSSARY OF TERMS
CONSUMER & COMMUNITY BANKING (CCB) Active online customers - Users of all internet browsers and mobile platforms who have been active in the past 90 days. Active mobile customers - Users of all mobile platforms, which include: SMS, mobile smartphone and tablet, who have been active in the past 90 days. Consumer & Business Banking (CBB) Description of selected business metrics within CBB: Client investment managed accounts - Assets actively managed by Chase Wealth Management on behalf of clients. The percentage of managed accounts is calculated by dividing managed account assets by total client investment assets. Client advisors - Investment product specialists, including private client advisors, financial advisors, financial advisor associates, senior financial advisors, independent financial advisors and financial advisor associate trainees, who advise clients on investment options, including annuities, mutual funds, stock trading services, etc., sold by the Firm or by third-party vendors through retail branches, Chase Private Client locations and other channels. Personal bankers - Retail branch office personnel who acquire, retain and expand new and existing customer relationships by assessing customer needs and recommending and selling appropriate banking products and services. Sales specialists - Retail branch office and field personnel, including, relationship managers and loan officers, who specialize in marketing and sales of various business banking products (i.e., business loans, letters of credit, deposit accounts, Chase Paymentech, etc.) and mortgage products to existing and new clients. Deposit margin/deposit spread: Represents net interest income expressed as a percentage of average deposits. Chase LiquidSM cards - Refers to a prepaid, reloadable card product. Mortgage Banking Mortgage Production and Mortgage Servicing revenue comprises the following: Net production revenue includes net gains or losses on originations and sales of prime and subprime mortgage loans, other production-related fees and losses related to the repurchase of previously-sold loans. Net mortgage servicing revenue includes the following components: a) Operating revenue predominantly represents the return on Mortgage Servicing's MSR asset and includes: Actual gross income earned from servicing third-party mortgage loans, such as contractually specified servicing fees and ancillary income; and The change in the fair value of the MSR asset due to the collection or realization of expected cash flows. b) Risk management represents the components of Mortgage Servicing's MSR asset that are subject to ongoing risk management activities, together with derivatives and other instruments used in those risk management activities.
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Mortgage origination channels comprise the following: Retail - Borrowers who buy or refinance a home through direct contact with a mortgage banker employed by the Firm using a branch office, the Internet or by phone. Borrowers are frequently referred to a mortgage banker by a banker in a Chase branch, real estate brokers, home builders or other third parties. Wholesale - Third-party mortgage brokers refer loan application packages to the Firm. The Firm then underwrites and funds the loan. Brokers are independent loan originators that specialize in counseling applicants on available home financing options, but do not provide funding for loans. Chase materially eliminated broker-originated loans in 2008, with the exception of a small number of loans guaranteed by the U.S. Department of Agriculture under its Section 502 Guaranteed Loan program that serves low-andmoderate income families in small rural communities. Correspondent - Banks, thrifts, other mortgage banks and other financial institutions that sell closed loans to the Firm. Card, Merchant Services and Auto (Card) Description of selected business metrics within Card: Card Services includes the Credit Card and Merchant Services businesses. Merchant Services is a business that primarily processes transactions for merchants. Total transactions - Number of transactions and authorizations processed for merchants. Commercial Card provides a wide range of payment services to corporate and public sector clients worldwide through the commercial card products. Services include procurement, corporate travel and entertainment, expense management services, and business-to-business payment solutions. Sales volume - Dollar amount of cardmember purchases, net of returns. Open accounts - Cardmember accounts with charging privileges. Auto origination volume - Dollar amount of auto loans and leases originated.
GLOSSARY OF TERMS
CORPORATE & INVESTMENT BANK (CIB) Definition of selected CIB revenue: Investment banking fees include advisory, equity and bond underwriting, and loan syndication fees. Treasury Services includes both transaction services and trade finance. Transaction services offers a broad range of products and services that enable clients to manage payments and receipts, as well as invest and manage funds. Products include U.S. dollar and multi-currency clearing, ACH, lockbox, disbursement and reconciliation services, check deposits, and currency related services. Trade finance enables the management of cross-border trade for bank and corporate clients. Products include loans tied directly to goods crossing borders, export/import loans, commercial letters of credit, standby letters of credit, and supply chain finance. Lending includes net interest income, fees, gains or losses on loan sales activities, gains or losses on securities received as part of loan restructurings, and the risk management results related to the credit portfolio (excluding trade finance). Fixed Income Markets primarily include revenue related to market-making across global fixed income markets, including foreign exchange, interest rate, credit and commodities markets. The results of the synthetic credit portfolio that was transferred from the Chief Investment Office effective July 2, 2012 are reported in this caption. Equity Markets primarily include revenue related to market-making across global equity products, including cash instruments, derivatives, convertibles and Prime Services. Securities Services includes primarily custody, fund accounting and administration, and securities lending products sold principally to asset managers, insurance companies and public and private investment funds. Also includes clearance, collateral management and depositary receipts business which provides broker-dealer clearing and custody services, including tri-party repo transactions, collateral management products, and depositary bank services for American and global depositary receipt programs. Credit Adjustments & Other primarily includes credit portfolio credit valuation adjustments (CVA) net of associated hedging activities; debit valuation adjustments (DVA) on structured notes and derivative liabilities; and nonperforming derivative receivable results. Description of certain business metrics: Client deposits and other third-party liabilities pertain to the Treasury Services and Securities Services businesses, and include deposits, as well as deposits that are swept to on-balance sheet liabilities (e.g., commercial paper, federal funds purchased and securities loaned or sold under repurchase agreements) as part of the Firm's client cash management program. Assets under custody (AUC) represents activities associated with the safekeeping and servicing of assets on which Securities Services earns fees.
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GLOSSARY OF TERMS
COMMERCIAL BANKING (CB) CB Client Segments: Middle Market Banking covers corporate, municipal, financial institution and nonprofit clients, with annual revenue generally ranging between $20 million and $500 million. Corporate Client Banking covers clients with annual revenue generally ranging between $500 million and $2 billion and focuses on clients that have broader investment banking needs. Commercial Term Lending primarily provides term financing to real estate investors/ owners for multifamily properties as well as financing office, retail and industrial properties. Real Estate Banking provides full-service banking to investors and developers of institutional-grade real estate properties. Other primarily includes lending and investment activity within the Community Development Banking and Chase Capital businesses. CB Revenue: Lending includes a variety of financing alternatives, which are primarily provided on a basis secured by receivables, inventory, equipment, real estate or other assets. Products include term loans, revolving lines of credit, bridge financing, asset-based structures, leases, commercial card products and standby letters of credit. Treasury services includes revenue from a broad range of products and services (as defined by Treasury Services revenue in the CIB description of revenue) that enable CB clients to manage payments and receipts, as well as invest and manage funds. Investment banking includes revenue from a range of products providing CB clients with sophisticated capital-raising alternatives, as well as balance sheet and risk management tools through advisory, equity and bond underwriting, and loan syndications. Revenue from Fixed income and Equity market products (as defined by Fixed Income Markets and Equity Markets revenue in the CIB description of revenue) available to CB clients is also included. Investment banking revenue, gross, represents total revenue related to investment banking products sold to CB clients. Other product revenue primarily includes tax-equivalent adjustments generated from Community Development Banking activity and certain income derived from principal transactions. Description of selected business metrics within CB: Client deposits and other third-party liabilities include deposits, as well as deposits that are swept to on-balance sheet liabilities (e.g., commercial paper, federal funds purchased and securities loaned or sold under repurchase agreements) as part of the Firm's client cash management program.
ASSET MANAGEMENT (AM) Assets under management - Represent assets actively managed by AM on behalf of its Private Banking, Institutional and Retail clients. Includes committed capital not called, on which AM earns fees. Client assets - Represent assets under management, as well as custody, brokerage, administration and deposit accounts. Multi-asset - Any fund or account that allocates assets under management to more than one asset class (e.g., long-term fixed income, equity, cash, real assets, private equity or hedge funds). Alternative assets - The following types of assets constitute alternative investments hedge funds, currency, real estate and private equity. AM's client segments comprise the following: Private Banking offers investment advice and wealth management services to high- and ultra-high-net-worth individuals, families, money managers, business owners and small corporations worldwide, including investment management, capital markets and risk management, tax and estate planning, banking, capital raising and specialty-wealth advisory services. Institutional brings comprehensive global investment services including asset management, pension analytics, asset-liability management and active risk-budgeting strategies to corporate and public institutions, endowments, foundations, nonprofit organizations and governments worldwide. Retail provides worldwide investment management services and retirement planning and administration, through financial intermediaries and direct distribution of a full range of investment products. Pretax margin: Represents income before income tax expense divided by total net revenue, which is, in management's view, a comprehensive measure of pretax performance derived by measuring earnings after all costs are taken into consideration. It is, therefore, another basis that management uses to evaluate the performance of AM against the performance of their respective competitors.
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3Q13 Earnings Earnings Supplement

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3Q13 Earnings Earnings Supplement

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EARNINGS RELEASE FINANCIAL SUPPLEMENT THIRD QUARTER 2013

JPMORGAN CHASE & CO.

CONSOLIDATED FINANCIAL HIGHLIGHTS

23,880 23,626 254 (543) (380)

25,958 15,866 10,092 47 6,496

25,848 15,423 10,425 617 6,529

24,378 16,047 8,331 656 5,692

25,863 15,371 10,492 1,789 5,708

75,686 54,915 20,771 121 12,645

75,512 48,682 26,830 2,729 15,592

13 (23) (96) (19)

(0.17) (0.17) 0.38 52.01 39.51

1.61 1.60 0.38 (h) 52.48 39.97

1.61 1.59 0.30 52.02 39.54

1.40 1.39 0.30 51.27 38.75

1.41 1.40 0.30 50.17 37.53

3.08 3.05 1.06 (h) 52.01 39.51

3.82 3.81 0.90 50.17 37.53

3,767.0 3,767.0 3,759.2 51.69 194,312

3,782.4 3,814.3 3,769.0 52.79 198,966

3,818.2 3,847.0 3,789.8 47.46 179,863

3,806.7 3,820.9 3,804.0 43.97 167,260

3,803.3 3,813.9 3,799.6 40.48 153,806

(1) (2) (2)

(1) (1) (1) 28 26

3,789.2 3,820.9 3,759.2 51.69 194,312

3,810.4 3,822.6 3,799.6 40.48 153,806

(1) % (2) (0.06) (0.11) (i)

8 % 11 0.71 1.20 (i)

11.7 (i) 14.3 (i) 10.5 (i)

11.6 14.1 10.4

11.6 14.1 10.2

12.6 15.3 11.0

11.9 14.7 10.4

11.7 (i) 14.3 (i) 10.5 (i)

11.9 14.7 10.4

(a) (b) (c) (d) (e) (f) (g) (h) (i)

JPMORGAN CHASE & CO.

CONSOLIDATED FINANCIAL HIGHLIGHTS,

2,702 2,240 665 476 (6,463) (380)

3,089 2,838 621 500 (552) 6,496

2,586 2,610 596 487 250 6,529

1,989 2,005 692 483 523 5,692

2,355 1,992 690 443 228 5,708

(13) (21) 7 (5) NM NM

8,377 7,688 1,882 1,463 (6,765) 12,645

8,562 6,401 1,954 1,220 (2,545) 15,592

(2) 20 (4) 20 (166) (19)

JPMORGAN CHASE & CO.

CONSOLIDATED STATEMENTS OF INCOME

(9) 5 2 285 (8) 49 (100) (85) NM

(2) (3) 3 8 (3) 275 (23) 54 (100) (82) NM

1 (9) 5 2 (9) 61 (22) 13 (16) (10) (19)

(1) % (2) (0.06) (0.11) (e) NM 102

8 % 11 0.71 1.20 (e) 31 75

(a) (b) (c) (d) (e)

JPMORGAN CHASE & CO.

CONSOLIDATED BALANCE SHEETS

6 (16) (5) 4 (6) (11) (1) 1

12 (15) (3) 37 22 (17) 5 (16) 9 6

11,158 4,105 93,555 112,135 390 (21) (14,652) 206,670 $ 2,463,309

11,458 4,105 93,416 114,216 136 (21) (14,071) 209,239 $ 2,439,494

9,958 4,105 93,161 109,402 3,491 (21) (13,010) 207,086 $ 2,389,349

9,058 4,105 94,604 104,223 4,102 (21) (12,002) 204,069 $ 2,359,141