Management’s discussion and analysis RWA rollforward Supplementary leverage ratio Line of business equity (Allocated capital) Line of business equity The following table presents changes in the components of RWA under Basel III Standardized and Advanced approaches for the year ended December 31, 2020. The amounts in the rollforward categories are estimates, based on the predominant driver of the change. (a) Model & data changes refer to material movements in levels of RWA as a result of revised methodologies and/or treatment per regulatory guidance (exclusive of rule changes). (b) Portfolio runoff for credit risk RWA primarily reflects reduced risk from position rolloffs in legacy portfolios in Home Lending. (c) Movement in portfolio levels (inclusive of rule changes) refers to: changes in book size, composition, credit quality, and market movements for credit risk RWA; changes in position and market movements for market risk RWA; updates to cumulative losses for operational risk RWA; and deductions to credit risk RWA for excess eligible credit reserves not eligible for inclusion in Tier 2 capital. The following table presents the components of the Firm’s SLR. (a) For purposes of calculating the SLR, includes total quarterly average assets adjusted for on-balance sheet assets that are subject to deduction from Tier 1 capital, predominantly goodwill and other intangible assets. As of December 31, 2020, includes adjustments for the CECL capital transition provisions and the exclusion of average assets purchased from money market mutual fund clients pursuant to nonrecourse advances provided under the MMLF. (b) Adjusted average assets used for the calculation of Tier 1 leverage ratio. (c) Off-balance sheet exposures are calculated as the average of the three month- end spot balances during the reporting quarter. Refer to Note 27 for JPMorgan Chase Bank, N.A.’s SLR. Each business segment is allocated capital by taking into consideration a variety of factors including capital levels of similarly rated peers and applicable regulatory capital requirements. ROE is measured and internal targets for expected returns are established as key measures of a business segment’s performance. The Firm’s allocation methodology incorporates Basel III Standardized RWA, Basel III Advanced RWA, the GSIB surcharge, and a simulation of capital in a severe stress environment. As of January 1, 2021, the Firm has changed its line of business capital allocations primarily as a result of changes in exposures for each LOB and an increase in the relative risk weighting toward Standardized RWA. The assumptions and methodologies used to allocate capital are periodically assessed and as a result, the capital allocated to the LOBs may change from time to time.  The following table presents the capital allocated to each business segment. Standardized Advanced Year ended December 31, 2020 (in millions) Credit risk RWA Market risk RWA Total RWA Credit risk RWA Market risk RWA Operational risk  RWA Total RWA December 31, 2019 $ 1,440,220 $ 75,649  $ 1,515,869 $ 932,948 $ 75,652 $ 389,278  $ 1,397,878 Model & data changes (800) (16,320) (17,120) (6,100) (16,320) —  (22,420) Portfolio runoff (4,450) —  (4,450) (4,000) —  —  (4,000) Movement in portfolio levels 29,249  37,061  66,310 79,482  37,578  (4,087) 112,973 Changes in RWA 23,999  20,741  44,740 69,382  21,258  (4,087) 86,553 December 31, 2020 $ 1,464,219 $ 96,390 $ 1,560,609 $ 1,002,330 $ 96,910 $ 385,191 $ 1,484,431 (a) (b) (c) Three months ended (in millions, except ratio) December 31, 2020 December 31, 2019 Tier 1 capital $ 234,844 214,432  Total average assets 3,399,818  2,777,270  Less: Regulatory capital adjustments 46,499  47,031  Total adjusted average assets 3,353,319  2,730,239  Add: Off-balance sheet exposures 729,978  693,192  Less: Exclusion for U.S. Treasuries and Federal Reserve Bank deposits 681,755  —  Total leverage exposure $ 3,401,542 $ 3,423,431  SLR 6.9 % 6.3 % (a) (b) (c) December 31, (in billions) January 1, 2021 2020 2019 Consumer & Community Banking $ 50.0 $ 52.0 $ 52.0  Corporate & Investment Bank 83.0 80.0  80.0  Commercial Banking 24.0 22.0  22.0  Asset & Wealth Management 14.0 10.5  10.5  Corporate 78.3 84.8  69.8  Total common stockholders’ equity $ 249.3 $ 249.3 $ 234.3  JPMorgan Chase & Co./2020 Form 10-K 98