JPMorgan’s Dimon Says Banks to Reprice Products
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JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon said banks will have to charge more for lending to get a “fair return” as regulators require the industry to set aside more funds to cushion against losses.
“I don’t think that you’re going to have all these banks around the world holding this amount of capital and the revolvers will cost the same,” Dimon, 57, said today at an investor conference sponsored by Goldman Sachs Group Inc. in New York. Revolving loans and repurchase agreements are among products that “use a lot of balance sheet” and will have to be repriced, he said.