"While we meet all the requirements, we need to have our own view about right level of capitalization for the business," he said. "We've thought about the risk profile of our business and through the crisis we never breached the 7% level."
At JPMorgan's upcoming shareholder meeting, the bank has to contend with recommendations from proxy firms Institutional Shareholders Services Inc. and Glass, Lewis & Co. LLC, which have said that investors should vote against six directors -- including the risk policy committee -- in the wake of various scandals. But the most closely watched vote will be whether shareholders want the head man, Dimon, to keep his two hats.
Written by Jane Searle in New York