If it is a small rate raises, [there will be] no impact.

Our commercial bank [JPMorgan] is only in the U.S. We are serving what you call SMEs - small businesses, private companies.

The yen is trading where it's trading because people are guessing about people's future interest rates, dollar and yen and about the future growth potential of the economies. And, if this policy works, then the yen will probably strengthen.

Companies that grow for the sake of growth or that expand into areas outside their core business strategy often stumble. On the other hand, companies that build scale for the benefit of their customers and shareholders more often succeed over time.

All businesses tend to pass costs onto customers.

JPMorgan Chase are among the most successful global investment banks, most successful global asset managers, and, in the United States, one of the most successful retail and commercial bankers. We do a great job for customers.

Dodd-Frank is 2,000 pages long. It covers thousands of rules, regulations, interpretations and things like that.