JPMorgan Chase & Co. Analysis Assignment Paper

JPMorgan Chase & Co.
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Introduction
The JP Morgan Chase & Co. is a leading banking institution with an international presence. Headquartered in the city of New York, JP Morgan is also an international holding company offering, with the FDIC Certificate number, 628. It is rated as a commercial and is supervised by the OCC. This is relative to the fact that, it is classified under the bank holding company. It means that the company owns and or controls more than one bank in the united states and has the controlling interest of one or more of the banks in question (Muchiri, 2017).
Company history
The company has had a long history and throughout the time that it has been in existence, it has acquired other institutions along the way. As such, the JPMorgan Chase & Co, is an institution that is formed of a foundation of more than 1200 predecessor institutions. These have come together over the years to form the company that is JPMorgan Chase & Co. This is a company that can trace back its roots to the year, 1799 in the city of New York (JPMorgan Chase & Co., 2017). Some of the heritage firms that form the JPMorgan Chase & Co. include; Manhattan Bank, Manufacturers Hanover Trust Co., Bank One, Cazenove Group, Robert Fleming Holdings, The Bear Streams Companies, National Bank of Detroit, The First National Bank of Chicago and the Chemical Bank. These are all institutions that have shaped the US economic market through financial innovations. Selling the country across the globe as an economic powerhouse (JPMorgan Chase & Co., 2017).
‘JPMorgan Chase (NYSE: JPM) is one of the oldest financial institutions in the United States. With a history dating back over 200 years, here's where we stand today: We are a leading global financial services firm with assets of $2.6 trillion. We operate in more than 60 countries. We have over 240,000 employees. We serve millions of consumers, small businesses and many of the world's most prominent corporate, institutional and government clients. We are a leader in investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing and asset management. Our stock is a component of the Dow Jones Industrial Average.’ (ANNUAL REPORT 2016 JPMorgan Chase & Co., 2017)
The company has risen over 200 years and has become one of the leading financial institutions in the united states. over the years the company has been able to achieve more than $ 2.6 trillion in assets. This is not a status the company has achieved within the united states alone. It has operations in more than 60 countries across the globe, which explains how it is able to employ a massive staff base of an estimated 240, 000 and still growing (ANNUAL REPORT 2016 JPMorgan Chase & Co., 2017).
Location
Given the time the company has been operational, it has inroads in quite a number of states within the United States of America (JPMorgan Chase & Co., 2017). For those living in the united states, it is possible to access the company offices from a number of locations among them. Albany, Atlanta, Austin, Baton Rouge, Denver, Los Angeles, Philadelphia, phoenix, Northbrook, Rochester, Chicago, Cincinnati, Cleveland, Oakbrook Terrace, Oklahoma City, Orange county, St. Louis, Wilmington, Tampa, Newark, Detroit, Houston Jersey City, New York, Brooklyn, Columbus and even Dallas.
The bank was officially established in the year 2000 after the merger of the chase Manhattan corporation and the JP Morgan & Co. It is currently monitored and supervised under the Office of the Comptroller of the Currency, which is under the U.S. Department of the Treasury. Given the magnitude of the bank and the impact that it has on the American economy and that of the world economy, the bank is monitored to enhance economic stability. Other than the JP Morgan Chase & Co. bank, the OCC is also responsible for the largest banks in the country to ensure stability.
‘Responsible for the largest national banks including Bank of America Corporation, BlackRock Institutional Trust Co., N.A., Capital One Financial Corp,, Citigroup, Inc., RBS Citizens Inc., Harris Bankcorp, Inc, HSBC Bank North America, Inc., Morgan Stanley Bank, NA, J.P. Morgan Chase & Company, KeyCorp, TD Bank, N.A., The PNC Financial Services Group, Inc., U.S. Bancorp, UnionBanCal Corporation, Wells Fargo & Company.’ (Office of the Comptroller of the Currency, 2017)
Regulation
Other than the fact that, this is a big bank, there is also the element of being classified under bank holding company. This is to mean that the bank owns more than one bank in the united states and/ has the controlling interest in one or more companies. A bank holding company could also own another company bank holding company, which then owns and/ or controls another bank. This makes the company at the top of the ownership ladder the top holder. It is crucial to note that the Board of Governors are responsible for supervising and regulating the bank holding companies this is regardless of the fact that the bank is owned by the holding company and they are under the primary supervision of the OCC.
Footings
Being one of the largest banks in the united states and even in the world. The bank has acquired a high level of assets over the years. It is estimated that the company has a total asset base, that are in the region of 2.6 trillion dollars. This makes the bank the largest when compared to the rest of the major banks in the united states market, by the virtual of market capitalization. It is also estimated that it is the sixth largest of the public companies. As of the year 2016, the company has a total of 2,490,972,000 dollars in assets.
‘JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets
of $2.5 trillion and operations worldwide. The firm is a leader in investment banking,
financial services for consumers and small businesses, commercial banking, financial
transaction processing, and asset management. A component of the Dow Jones Industrial
Average, JPMorgan Chase & Co. serves millions of consumers in the United States and
many of the world’s most prominent corporate, institutional and government clients
under its J.P. Morgan and Chase brands.’ (JPMorgan Chase & Co., 2017)
UBPR
By the close of the year 2016, 31st of December the firm had total deposits amounting to $1,375 billion. This was an increase as by the close of the previous year on 31st December, the total deposits were $1,279.7 billion dollars. This was relative to the fact that the company had some increased consumer and wholesale deposits. The inc...