Dimon Says JPMorgan to Review Contracts Amid Debt Limit Impasse
This article is for subscribers only.
JPMorgan Chase & Co. will begin a review of all of its contracts on Monday, including those tied to repo markets, as part of preparations for a potential default by the United States government.
“We start on Monday,” Chief Executive Officer Jamie Dimon told President Joe Biden at a meeting on Wednesday. “We’re going to start reviewing all our contracts, repo, collateral requirements. There will be huge demands of people selling Treasuries, wanting financing in Treasuries, interest rates will start going up, it will get worse as we get closer to the brink.”