JPMorgan Chase & Co.

Corporate governance · Ethics and compliance culture

Conduct risks, including the negative impact that could result from misconduct of JPMorganChase's employees

Corporate governance · Internal controls and risk management

risks associated with JPMorganChase's risk management framework and control environment, its models and estimations and associated judgments used in its stress testing and financial statements, and controls over disclosure and financial reporting

Reputation and brand · Brand damage and negative publicity

Reputation risks, including the potential negative commercial impacts that can arise from JPMorganChase's decisions related to clients and business activities; and the failure to effectively manage conflicts of interest or to satisfy fiduciary obligations, or other factors that could damage JPMorganChase's reputation

Market and investment · Interest rate and yield curve risk

Market risks, including the effects that unfavorable economic and market events and conditions, political developments, changes in interest rates and credit spreads, and market fluctuations could have on JPMorganChase's businesses

Credit and liquidity · Credit risk and customer defaults

Credit risks, including the effects from adverse changes in the financial condition of clients, customers, counterparties, central counterparties and other market participants; the potential for losses due to declines in the value of collateral

Market and investment · Trading and market making activities

Market risks, including the effects that unfavorable economic and market events and conditions, political developments, changes in interest rates and credit spreads, and market fluctuations could have on JPMorganChase's businesses, investments and market-making positions, as well as on its earnings and liquidity and capital levels

Credit and liquidity · Liquidity and cash flow constraints

Liquidity risks, including the risk that JPMorganChase's ability to operate could be impaired by constrained liquidity; the dependence of JPMorgan Chase & Co. on its subsidiaries for funding

Capital structure and performance · Credit rating and cost of capital

the potential adverse effects that any downgrades of JPMorganChase's credit ratings could have on its liquidity and cost of funding

Market and investment · Market volatility and economic cycles

Market risks, including the effects that unfavorable economic and market events and conditions, political developments, changes in interest rates and credit spreads, and market fluctuations could have on JPMorganChase's businesses, investments and market-making positions

Core operations · Operational disruption and business continuity

Operational risks, including risks associated with JPMorganChase's dependence on its operational systems and its employees, as well as the systems and employees of acquired businesses and external parties; the harm that could be caused by a successful cyber attack affecting JPMorganChase or by other extraordinary events

Geopolitical and trade · Regulatory and policy uncertainty

the ways in which less predictable legal and regulatory frameworks in certain jurisdictions could negatively impact JPMorganChase's operations and financial results

Geopolitical and trade · Political instability and government changes

Political risks, including the potential negative effects on JPMorganChase's businesses due to economic uncertainty resulting from political developments

Geopolitical and trade · International conflicts and tensions

Country risks, including potential impacts on JPMorganChase's businesses from an outbreak or escalation of hostilities between countries or within a country or region

Technology infrastructure · Technology systems and infrastructure failure

Operational risks, including risks associated with JPMorganChase's dependence on its operational systems and its employees, as well as the systems and employees of acquired businesses and external parties

Cybersecurity and data protection · Third party data security and vendors

potential adverse effects of failing to comply with applicable standards for the oversight of vendors and other service providers; and risks associated with JPMorganChase's risk management framework and control environment

Industry regulation · Capital and liquidity requirements

Capital risks, including the risk that JPMorganChase's ability to distribute capital to shareholders or to support its business activities could be limited if it does not satisfy applicable regulatory capital requirements

Data and privacy · Data protection and privacy laws

Operational risks, including risks related to safeguarding personal information; potential adverse effects of failing to comply with applicable standards for the oversight of vendors and other service providers

Legal and litigation · Litigation and legal proceedings

the penalties and other repercussions that JPMorganChase could face when resolving litigation or investigations by governmental authorities

Industry regulation · Regulatory compliance and changes

Legal and Regulatory risks, including the impact of extensive supervision and regulation, as well as changes to or in the application, interpretation or enforcement of applicable law or executive branch actions, on JPMorganChase's business and operations

Market position and competition · Competitive pressure and market share loss

Strategic risks, including the damage to JPMorganChase's competitive standing that could result from ineffective business strategies; risks associated with the significant competition that JPMorganChase faces