The annual letter from the JPMorgan CEO addressed the state of the banking system after the collapse of SVB.
, another regional bank that investors feared could become the next SVB.
The JPMorgan CEO instead called for more forward-looking regulation. He pointed out that the held-to-maturity bonds that have become problems for many banks are actually highly rated government debt that scores well under current rules, and that recent stress tests did not game out a rapid rise in interest rates.
Dimon said that there needed to be more urgency at many different levels to speed up the development of green technology, raising permitting reform and eminent domain as two areas to consider.
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