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JPMorgan adequately capitalized in mid-cycle stress test

A sign stands in front of the JPMorgan Chase & Co bank headquarters building in New York, March 15, 2013. REUTERS/Lucas Jackson
A sign stands in front of the JPMorgan Chase & Co bank headquarters building in New York, March 15, 2013. REUTERS/Lucas Jackson

(Reuters) - JPMorgan Chase & Co's capital ratios would be above the minimum regulatory requirements in case of a hypothetical "severely adverse scenario," according to mid-cycle stress test results released on Monday.

The largest U.S. bank projected a minimum Tier 1 common ratio of 8.5 percent and a minimum Tier 1 capital ratio of 9.6 percent over the nine-quarter period through the second quarter of 2015.

The severely adverse scenario is designed to be similar in intensity and length to the 2007-2009 downturn and incorporates severe market shock.

JPMorgan, which was asked by the Federal Reserve to fix flaws in its capital plan during the annual stress tests in March, said the assumed scenarios were run as of March 31 and did not include feedback from the Fed.

JPMorgan calculated cumulative nine-quarter pre-provision net revenue of $57 billion and loan losses of $32.1 billion, JPMorgan's mid-cycle stress test disclosures showed. (http://r.reuters.com/rym23v)

The company also said its year-end capital plan will reflect enhanced forecasting methodologies and processes in response to the Fed feedback it received during the second quarter.

JPMorgan was among a host of banks to release its mid-cycle stress test results.

The company's shares closed up a percent at $53.14 on Monday on the New York Stock Exchange.

(Reporting by Aman Shah in Bangalore)

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