"Although compliance is not without impact, it is manageable," the company said in its second-quarter earnings presentation. The company also said it expected its largest bank subsidiary's compliance with the new 6% supplementary Basel III Tier 1 leverage requirement "will follow" the holding company's compliance. JPMorgan Chase is also required to raise its Basel III Tier 1 common equity ratio to 9.5% by the end of 2018. The company estimated this ratio was 9.3% as of June 30, "including the estimated impact of final Basel III rules issued on July 2, 2013." Considering that the Federal Reserve felt comfortable with the company raising its dividend significantly and repurchasing up to $6 billion in common shares through March 2014, despite the "London Whale" hedge trading losses of at least $6.2 billion during 2012, it appears that regulators are very comfortable that JPMorgan will easily comply with Basel III.