JP Morgan Chase 2015 Annual Report Download - page 171

JPMorgan Chase & Co./2015 Annual Report 161
Deposits
A key strength of the Firm is its diversified deposit
franchise, through each of its lines of business, which
provides a stable source of funding and limits reliance on
the wholesale funding markets. As of December 31, 2015,
the Firm’s loans-to-deposits ratio was 65%, compared with
56% at December 31, 2014.
As of December 31, 2015, total deposits for the Firm were
$1,279.7 billion, compared with $1,363.4 billion at
December 31, 2014 (61% and 58% of total liabilities at
December 31, 2015 and 2014, respectively). The decrease
was attributable to lower wholesale non-operating deposits,
partially offset by higher consumer deposits. For further
information, see Consolidated Balance Sheet Analysis on
pages 75–76.
The Firm has typically experienced higher customer deposit inflows at quarter-ends. Therefore, the Firm believes average
deposit balances are generally more representative of deposit trends. The table below summarizes, by line of business, the
period-end and average deposit balances as of and for the years ended December 31, 2015 and 2014.
Deposits Year ended December 31,
As of or for the period ended December 31, Average
(in millions) 2015 2014 2015 2014
Consumer & Community Banking $ 557,645 $ 502,520 $ 530,938 $ 486,919
Corporate & Investment Bank 395,228 468,423 414,064 417,517
Commercial Banking 172,470 213,682 184,132 190,425
Asset Management 146,766 155,247 149,525 150,121
Corporate 7,606 23,555 17,129 19,319
Total Firm $ 1,279,715 $ 1,363,427 $ 1,295,788 $ 1,264,301
A significant portion of the Firm’s deposits are consumer deposits, which are considered a stable source of liquidity.
Additionally, the majority of the Firm’s wholesale operating deposits are also considered to be stable sources of liquidity
because they are generated from customers that maintain operating service relationships with the Firm. Wholesale non-
operating deposits, including a portion of balances previously reported as commercial paper sweep liabilities, decreased by
approximately $200 billion from December 31, 2014 to December 31, 2015, predominantly driven by the Firm’s actions to
reduce such deposits. The reduction has not had a significant impact on the Firm’s liquidity position as discussed under LCR
and HQLA above. For further discussions of deposit and liability balance trends, see the discussion of the Firm’s business
segments results and the Consolidated Balance Sheet Analysis on pages 83–106 and pages 75–76, respectively.