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Inv Bank Capital Update; JPM up, BAC & C lower; Euro IBs Remain Higher

CREDIT UPDATE

Bank capital monitor. It was notable today that JPM raised its CET1 ratio (a key indicator for credit investors) whereas both BAC and Citi saw theirs drop in 4Q23.

It's also notable that the US majors, on average, are less well capitalised than the European majors, by around 1 full percentage point. The development of that trajectory over the reporting season will be one to watch.


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