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Eye on the Market I September 25, 2011 J.P Morgan mean meet a Topics: A note from the European Banking Authority As per the note below, the European Banking Authority (EBA) holds the global inve
6x 5x Foreign banks 4x • Domestic banks 3x 2x 1x Ox Japan cb 16. \fr C4 S‘ OS co et <„ 04,0% ge S %Os Source: Federal Reserve, ECB, J.P. Morgan Private Bank. Data as of 2010. 'Select liabities include deposits and other debt securities. EuroStoxx Banks Index: reality finally sets In Price-to-book ratio
h client and is serviced through distinct legal entities licensed for specific whines. Bank. trust and investment management services are provided by J.P. Morgan Chase Bank. N.A. and its affiliates. Securities are offered through J.P. Morgan SeCtilifiti LLC (JPUS). Member NYSE. FINRA and SIPC Securities products purchas
ge S %Os Source: Federal Reserve, ECB, J.P. Morgan Private Bank. Data as of 2010. 'Select liabities include deposits and other debt securities. EuroStoxx Banks Index: reality finally sets In Price-to-book ratio - Jan-10 Jan-11 Jan-07 Jan-08 Jan-09 Sou ce: Blcionterg. US money market funds' exposure t
Eye on the Market I September 25, 2011 J.P Morgan mean meet a Topics: A note from the European Banking Authority As per the note below, the European Banking Authority (EBA) holds the global inve
6x 5x Foreign banks 4x • Domestic banks 3x 2x 1x Ox Japan cb 16. \fr C4 S‘ OS co et <„ 04,0% ge S %Os Source: Federal Reserve, ECB, J.P. Morgan Private Bank. Data as of 2010. 'Select liabities include deposits and other debt securities. EuroStoxx Banks Index: reality finally sets In Price-to-book ratio
h client and is serviced through distinct legal entities licensed for specific whines. Bank. trust and investment management services are provided by J.P. Morgan Chase Bank. N.A. and its affiliates. Securities are offered through J.P. Morgan SeCtilifiti LLC (JPUS). Member NYSE. FINRA and SIPC Securities products purchas
ge S %Os Source: Federal Reserve, ECB, J.P. Morgan Private Bank. Data as of 2010. 'Select liabities include deposits and other debt securities. EuroStoxx Banks Index: reality finally sets In Price-to-book ratio - Jan-10 Jan-11 Jan-07 Jan-08 Jan-09 Sou ce: Blcionterg. US money market funds' exposure t
y: 15% Coupon: 6% Max Return: Uncapped Paul Barrett I Managing Director I Global Investment Opportunities Group 13.P. Morgan Securities LLC I 3.P. Morgan Private Bank 13.P. Morgan Chase Bank N.A. NOT AN OFFICIAL CONFIRMATION EFTA00367504 For informational purposes only. This report does not represent an officia
urn: Uncapped Paul Barrett I Managing Director I Global Investment Opportunities Group 13.P. Morgan Securities LLC I 3.P. Morgan Private Bank 13.P. Morgan Chase Bank N.A. NOT AN OFFICIAL CONFIRMATION EFTA00367504 For informational purposes only. This report does not represent an official account of the holdings, ba
OW $54.50 AMERICAN AIRLINES GROUP INC AAL OW $57.50 STARWOOD HOTELS & RESORTS HOT OW $87.00 MARRIOTT INTERNATIONAL -CL A MAR OW $70.00 EuroStoxx Banks Index (SX7E) Market Plus Note (10%) Improving outlook for European bank lending and net interest income with new TLTRO program which allows banks t
urn: Uncapped Paul Barrett I Managing Director I Global Investment Opportunities Group 17.P. Morgan Securities LLC I 3.P. Morgan Private Bank I LP. Morgan Chase Bank N.A. 320 Park Avenue, 14th Floor, New York, NY 10022 I T: I F: NOT AN OFFICIAL CONFIRMATION For informational purposes only. This report does not repr
entiality, legal privilege, and legal entity disclaimers, available at http://www.jpmorgan.com/pages/disclosures/email. IRS Circular 230 Disclosure: WMorgan Chase & Co. and its affiliates do not provide tax advice. Accordingly, any discussion of U.S. tax matters contained herein (including any attachments) is not in
OW $54.50 AMERICAN AIRLINES GROUP INC AAL OW $57.50 STARWOOD HOTELS & RESORTS HOT OW $87.00 MARRIOTT INTERNATIONAL -CL A MAR OW $70.00 EuroStoxx Banks Index (SX7E) Market Plus Note (10%) Improving outlook for European bank lending and net interest income with new TLTRO program which allows banks t
Entities connected to both JPMorgan Chase and EuroStoxx Banks

Jeffrey Epstein
PERSONJ.P. Morgan Securities LLC
ORGANIZATION
Paul Barrett
PERSONBarrett
PERSONJ.P.Morgan Securities LLC
ORGANIZATIONSCHLUMBERGER LTD
ORGANIZATIONMichael Cembalest
PERSON
Credit Suisse
ORGANIZATION
Frankfurt
LOCATION
Verizon
ORGANIZATIONLOCKHEED MARTIN CORP
ORGANIZATION
Western Europe
LOCATION
Central Bank
ORGANIZATION
Jesus Christ
PERSON
the Institute of International Finance
ORGANIZATION
European Central Bank
ORGANIZATION
Boeing
ORGANIZATIONEuropean Financial Stability Facility
ORGANIZATION
Basel
ORGANIZATIONFitch Ratings
ORGANIZATION