May 19, 2020 / 10:22 AM / 6 days ago

BRIEF-JPMorgan's Dimon Issues Update On Co's Response To COVID-19

May 19 (Reuters) -

* JPMORGAN’S DIMON ISSUES UPDATE ON CO’S RESPONSE TO COVID-19 - MEMO

* JPMORGAN CEO DIMON SAYS TO DATE, CO PROVIDED COVID-19 RELATED ASSISTANCE TO OVER 1.5 MILLION CUSTOMER ACCOUNTS, INCLUDING DELAYING PAYMENTS, REFUNDING FEES

* JPMORGAN CEO DIMON SAYS YTD, CO HELPED CLIENTS RAISE $664 BILLION IN INVESTMENT GRADE FINANCING, ALSO PROVIDED $104 BILLION OF HIGH YIELD FINANCING

* JPMORGAN CEO DIMON SAYS DURING FIRST 60 DAYS OF COVID-19 CRISIS, CO EXTENDED $950 MILLION IN NEW LOANS FOR SMALL BUSINESS CLIENTS

* JPMORGAN CEO DIMON SAYS SINCE BEGINNING OF PPP, CO FUNDED TOTAL OF OVER $30 BILLION TO OVER 250,000 BUSINESSES

* JPMORGAN CEO DIMON SAYS “QUICKLY AND PRUDENTLY” PUTTING CO’S CAPITAL & LIQUIDITY TO WORK TO HELP CLIENTS WEATHER COVID-19 CRISIS

* JPMORGAN CEO DIMON SAYS IN MARCH & APRIL, CO APPROVED OVER $45 BILLION IN NEW CREDIT FOR CLIENTS IMPACTED BY COVID-19

* JPMORGAN CEO DIMON SAYS WORKED TO HELP AS MANY OF CO’S CUSTOMERS AS POSSIBLE RECEIVE LOANS THROUGH SBA’S PAYCHECK PROTECTION PROGRAM

* JPMORGAN CEO DIMON SAYS AVERAGE LOAN AMOUNT WAS ROUGHLY $122,000 & HALF OF THOSE SBA’S PPP LOANS WENT TO COMPANIES WITH FEWER THAN 5 EMPLOYEES

* JPMORGAN CEO DIMON SAYS COMPANY CAN ADD OPTION TO MOVE MISSED PAYMENTS TO END OF MORTGAGE TERM FOR ELIGIBLE CUSTOMERS UPON REQUEST

* JPMORGAN CEO DIMON SAYS DELAYING MORTGAGE PAYMENTS FOR HOMEOWNERS FOR AT LEAST 3 MONTHS; THEY WON'T BE CHARGED LATE FEE OR PENALTY DURING THIS TIME Source: bit.ly/369PLku

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