The global economy has a whole lot riding on Jamie Dimon.
JPMorgan tops a number of global bank rankings in terms of how interconnected it is with other banks, how difficult it would be to replicate or replace, and how complex its business is, according to a study released Tuesday August 4 by the Office of Financial Research.
Business Insider breaks down the various ways in which JPMorgan and Dimon matter so much to the global economy using a number of the charts from the Office of Financial Research report.
It's not clear that Dimon actually wants the distinction. The bank said at its investor day in February that it is taking "immediate action" to keep a lid on its size and complexity, and it has also stressed in filings that it could be wound down without the need for a bailout.
The bank said in a July filing to The Federal Deposit Insurance Corporation: "The Firm believes that recovery planning is an important tool to avoid failure, but that if needed, our resolution plan would effectively resolve the Firm within a reasonable timeframe, without systemic disruption and without exposing taxpayers to the risk of loss."
A spokesman for JPMorgan declined to comment.
JPMorgan tops U.S. banks for systemic importance
The Office of Financial Research put JPMorgan at the top of the list for U.S. banks' systemic importance, using Basel methodology.
JPMorgan's complexity makes it a key cog in the global financial system as well
JPMorgan is also the most complex bank in the world, ranking ahead of European banks Barclays, Deutsche Bank and BNP Paribas.
JPMorgan is the most interconnected bank in the world, followed closely by Citi.
JPMorgan is also the most interconnected bank in the world, according to the Office of Financial Research report, narrowly ahead of Citigroup and HSBC.
See the rest of the story at Business Insider
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