JP Morgan Chase 2015 Annual Report Download - page 142
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Management’s discussion and analysis
132 JPMorgan Chase & Co./2015 Annual Report
Provision for credit losses
For the year ended December 31, 2015, the provision for
credit losses was $3.8 billion, compared with $3.1 billion
for the year ended December 31, 2014.
The total consumer provision for credit losses for the year
ended December 31, 2015 reflected lower net charge-offs
due to continued discipline in credit underwriting as well as
improvement in the economy driven by increasing home
prices and lower unemployment, partially offset by a lower
reduction in the allowance for loan loss compared with
December 31, 2014.
The wholesale provision for credit losses for the year ended
December 31, 2015 reflected the impact of downgrades in
the Oil & Gas portfolio.
Year ended December 31, Provision for loan losses
Provision for
lending-related commitments Total provision for credit losses
(in millions) 2015 2014 2013 2015 2014 2013 2015 2014 2013
Consumer, excluding credit card $ (82) $ 414 $ (1,872) $1$5$1$ (81) $ 419 $ (1,871)
Credit card 3,122 3,079 2,179 ———3,122 3,079 2,179
Total consumer 3,040 3,493 307 1513,041 3,498 308
Wholesale 623 (269) (119) 163 (90) 36 786 (359) (83)
Total $ 3,663 $ 3,224 $ 188 $ 164 $ (85) $ 37 $ 3,827 $ 3,139 $ 225