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regulationbanksartificial intelligenceEuropeUS
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Related tickers and likely impact
JPM
• NeutralJPMorgan Chase
Relevance: low
| Market | US stocks |
|---|---|
| Sector | Financials |
| Industry | Diversified Banks |
| Market cap | $894.6B |
| Close on 10/15/2026 | 335.53 |
| Change that session | +0.07% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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- JP Morgan lashes out at ‘unprincipled’ bank tax
JP Morgan has criticised the Budget increase in the UK bank surcharge, saying it is unfair to “single out” banks and “lacks principle”. The surcharge will temporarily double from 3% to 6% for 15 months from January to support energy bills; with corporation tax at 25%, the total rate for the sector reaches 31%, the highest since at least 2015. JP Morgan reportedly faces an extra £100m to £150m. The OBR estimates the higher rate will raise an extra £1.5bn, but roughly £190m of UK profits could move out of the country. Bank shares rallied because the increase was smaller than the feared 8% and time-limited, with Barclays up 3.2% and Lloyds and NatWest up closer to 4%.
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