Daily News: February 27, 2013

Dimon: Banks Have More Capital Than They Can Use

Bloomberg reported that at a meeting with investors, JPMorgan CEO Jamie Dimon said, “I think all banks will have too much capital in two and a half years. And they’re not going to know what to do with it.”

Bloomberg said the biggest U.S. banks are lending the smallest portion of their deposits in five years and noted that the average loan-to-deposit ratio for the top eight commercial banks fell to 84% in the fourth quarter from 87% a year earlier and 101% in 2007. JPMorgan had the lowest ratio in the group at 61%.

To read the Bloomberg story click here.