You've seen certain credit type products that are going to be in nonbanks, like sophisticated CLO [collateralized loan obligation] tranches and stuff where the capital charge is so high that a bank simply will not own it. Someone will buy it, hedge it, trade it. But it won't typically be a bank.
Jamie DimonI also believe that most of the emerging economies have a fairly large amount of foreign exchange reserves, relative to 10 years ago.
Jamie DimonAll our clients know that we're there, we're steady, we do a good job, we earn a fair return for ourselves, which I think is critical.
Jamie Dimon