JPMorgan Chase CEO Jamie Dimon blasted stricter capital rules proposed by US regulators, telling investors on Monday that they could prompt lenders to pull back and stymie economic growth.
stricter capital rules proposed by US regulators
, telling investors on Monday that they could prompt lenders to pull back and stymie economic growth. “I wouldn’t be a big buyer of a bank,” Dimon said at a conference in New York, drawing laughter from the audience. “I’d be no better than equal weight.”The chief of the largest bank in the US questioned what the regulators were trying to accomplish with the rules, adding that he would appreciate more transparency from regulators in an attempt to understand the rationale.
JPMorgan CEO Jamie Dimon questioned what the regulators were trying to accomplish with stricter bank-capital rules.Dimon said he believes that the Chinese market is no longer as lucrative as it was. He also said that his takeaway from a trip he made to China in May for the first time in four years was “highly cautious.”
“In terms of our own business, the risk-reward , which was very good, has now become OK. The risk is bad,” he said adding that the bank is cautious about managing its risk.China’s economy grew at a frail paceDimon has earlier warned about uncertainty in the Chinese economy hurting investor confidence and also suggested that the US and China need “real engagement” on security and trade issues.
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