Overview

• JPMorgan recorded a $170 million charge-off tied to subprime auto lender Tricolor, CFO Jeremy Barnum said.
• Jamie Dimon called the Tricolor setback "not our finest moment" and said the bank is scrutinizing exposures in detail.
• JPMorgan avoided losses from the bankruptcy of auto parts firm First Brands, even as the pair of failures stoked worries about bank financing of private companies including at Jefferies and Fifth Third.
• The bank beat quarterly expectations on strong institutional trading, but attention shifted to credit performance as net charge-offs rose 8% from the prior quarter to $2.6 billion.
• Fifth Third projected a $170 million to $200 million loss on its Tricolor exposure, and Barclays was listed as a creditor in court filings.