JP Morgan Chase 2015 Annual Report Download - page 99

JPMorgan Chase & Co./2015 Annual Report 89
Selected balance sheet data
As of or for the year ended
December 31,
(in millions) 2015 2014 2013
Trading assets – loans (period-end)(a) $ 5,953 $ 8,423 $ 6,832
Trading assets – loans (average)(a) 7,484 8,040 15,603
Loans, excluding PCI loans
Period-end loans owned
Home equity 43,745 50,899 57,863
Prime mortgage, including option
adjustable rate mortgages (“ARMs”) 134,361 80,414 65,213
Subprime mortgage 3,732 5,083 7,104
Other 398 477 551
Total period-end loans owned 182,236 136,873 130,731
Average loans owned
Home equity 47,216 54,410 62,369
Prime mortgage, including option
ARMs 107,723 71,491 61,597
Subprime mortgage 4,434 6,257 7,687
Other 436 511 588
Total average loans owned 159,809 132,669 132,241
PCI loans
Period-end loans owned
Home equity 14,989 17,095 18,927
Prime mortgage 8,893 10,220 12,038
Subprime mortgage 3,263 3,673 4,175
Option ARMs 13,853 15,708 17,915
Total period-end loans owned 40,998 46,696 53,055
Average loans owned
Home equity 16,045 18,030 19,950
Prime mortgage 9,548 11,257 12,909
Subprime mortgage 3,442 3,921 4,416
Option ARMs 14,711 16,794 19,236
Total average loans owned 43,746 50,002 56,511
Total Mortgage Banking
Period-end loans owned
Home equity 58,734 67,994 76,790
Prime mortgage, including option
ARMs 157,107 106,342 95,166
Subprime mortgage 6,995 8,756 11,279
Other 398 477 551
Total period-end loans owned 223,234 183,569 183,786
Average loans owned
Home equity 63,261 72,440 82,319
Prime mortgage, including option
ARMs 131,982 99,542 93,742
Subprime mortgage 7,876 10,178 12,103
Other 436 511 588
Total average loans owned 203,555 182,671 188,752
(a) Predominantly consists of prime mortgages originated with the intent to
sell that are accounted for at fair value.
Credit data and quality statistics
As of or for the year ended
December 31,
(in millions, except ratios) 2015 2014 2013
Net charge-offs/(recoveries),
excluding PCI loans(a)
Home equity $ 283 $ 473 $ 966
Prime mortgage, including
option ARMs 48 28 53
Subprime mortgage (53) (27) 90
Other 7910
Total net charge-offs/
(recoveries), excluding PCI
loans 285 483 1,119
Net charge-off/(recovery) rate,
excluding PCI loans
Home equity 0.60% 0.87% 1.55%
Prime mortgage, including
option ARMs 0.04 0.04 0.09
Subprime mortgage (1.22) (0.43) 1.17
Other 1.61 1.76 1.70
Total net charge-off/
(recovery) rate, excluding
PCI loans 0.18 0.37 0.85
Net charge-off/(recovery) rate –
reported(a)
Home equity 0.45 0.65 1.17
Prime mortgage, including
option ARMs 0.04 0.03 0.06
Subprime mortgage (0.68) (0.27) 0.74
Other 1.61 1.76 1.70
Total net charge-off/
(recovery) rate – reported 0.14 0.27 0.59
30+ day delinquency rate,
excluding PCI loans(b)(c) 1.57 2.61 3.55
Allowance for loan losses,
excluding PCI loans $ 1,588 $ 2,188 $ 2,588
Allowance for PCI loans(a) 2,742 3,325 4,158
Allowance for loan losses 4,330 5,513 6,746
Nonperforming assets(d)(e) 4,971 6,175 7,438
Allowance for loan losses to
period-end loans retained 1.94% 3.01% 3.68%
Allowance for loan losses to
period-end loans retained,
excluding PCI loans 0.87 1.60 1.99
(a) Net charge-offs and the net charge-off rates excluded $208 million, $533 million
and $53 million of write-offs in the PCI portfolio for the years ended December
31, 2015, 2014 and 2013, respectively. These write-offs decreased the
allowance for loan losses for PCI loans. For further information on PCI write-offs,
see Allowance for Credit Losses on pages 130–132.
(b) At December 31, 2015, 2014 and 2013, excluded mortgage loans insured by
U.S. government agencies of $8.4 billion $9.7 billion and $9.6 billion,
respectively, that are 30 or more days past due. These amounts have been
excluded based upon the government guarantee. For further discussion, see Note
14 which summarizes loan delinquency information.
(c) The 30+ day delinquency rate for PCI loans was 11.21%, 13.33% and 15.31%
at December 31, 2015, 2014 and 2013, respectively.
(d) At December 31, 2015, 2014 and 2013, nonperforming assets excluded: (1)
mortgage loans insured by U.S. government agencies of $6.3 billion, $7.8 billion
and $8.4 billion, respectively, that are 90 or more days past due and (2) REO
insured by U.S. government agencies of $343 million, $462 million and $2.0
billion, respectively. These amounts have been excluded based upon the
government guarantee.
(e) Excludes PCI loans. The Firm is recognizing interest income on each pool of PCI
loans as all of the pools are performing.