JP Morgan Chase 2010 Annual Report Download - page 241

JPMorgan Chase & Co./2010 Annual Report 241
Determining the appropriateness of the allowance is complex and
requires judgment by management about the effect of matters that
are inherently uncertain. Subsequent evaluations of the loan portfo-
lio, in light of the factors then prevailing, may result in significant
changes in the allowances for loan losses and lending-related com-
mitments in future periods.
At least quarterly, the allowance for credit losses is reviewed by
the Chief Risk Officer, the Chief Financial Officer and the Control-
ler of the Firm and discussed with the Risk Policy and Audit
Committees of the Board of Directors of the Firm. As of December
31, 2010, JPMorgan Chase deemed the allowance for credit
losses to be appropriate (i.e., sufficient to absorb losses that are
inherent in the portfolio, including those not yet identifiable).
(table continued from previous page)
2009
2008
Wholesale
Consumer,
excluding credit card Credit Card Total Wholesale
Consumer,
excluding credit card Credit Card
Total
$
6,545
$
8,927
$
7,692
$
23,164
$
3,154
$
2,673
$
3,407
$
9,234
—
—
—
—
—
—
—
—
3,226 10,421 10,371 24,018 521 5,086 5,157
10,764
(94) (222) (737) (1,053) (119) (209) (601)
(929
)
3,132 10,199 9,634 22,965 402 4,877 4,556
9,835
3,684 16,032 12,019 31,735 2,895 10,309 6,456
19,660
—
—
—
—
641
350
586
1,577
3,684
16,032
12,019
31,735
3,536
10,659
7,042
21,237
—
—
—
—
229
897
1,409
2,535
48 25 (405) (332) 28 (425) 390
(7
)
$
7,145
$
14,785
$
9,672
$
31,602
$
6,545
$
8,927
$
7,692
$
23,164
$ 2,046 $ 896 $ 3,117 6,059 $ 712 $ 332 $ 1,450 $
2,494
5,099 12,308 6,555 23,962 5,833 8,595 6,242
20,670
— 1,581 — 1,581 — — —
—
$
7,145
$
14,785
$
9,672
$
31,602
$
6,545
$
8,927
$
7,692
$
23,164
$
6,960
$
3,648
$
6,245
$
16,853
$
2,088
$
2,086
$
3,048
$
7,222
192,982
263,462
72,541
528,985
245,777
285,181
101,647
632,605
135
81,245
—
81,380
224
88,813
51
89,088
$
200,077
$
348,355
$
78,78
6
$
627,218
$
248,089
$
376,080
$
104,746
$
728,915