Cross-border outstandings Cross-border outstandings exceeding 0.75% of total assets JPMorgan Chase’s total cross-border exposure tends to fluctuate greatly, and the amount of exposure at year-end tends to be a function of timing rather than representing a consistent trend. For a further discussion of JPMorgan Chase’s country risk exposure, refer to Country Risk Management on pages 132–133. including transfer and country risk. Country location under the FFIEC bank regulatory reporting is based on where the entity or counterparty is legally established. Cross-border disclosure is based on the FFIEC guidelines governing the determination of cross-border risk. The reporting of country exposure under the FFIEC bank regulatory requirements provides information on the distribution, by country and sector, of claims on, and liabilities to, foreign residents held by U.S. banks and bank holding companies and is used by the regulatory agencies to determine the presence of credit and related risks, The following table lists all countries in which JPMorgan Chase’s cross-border outstandings exceed 0.75% of consolidated assets as of the dates specified. 306 (a) Consists primarily of non-banking financial institutions. (b) Outstandings include loans and accrued interest receivable, interest-bearing deposits with banks, acceptances, resale agreements, other monetary assets, cross-border trading debt and equity instruments, fair value of foreign exchange and derivative contracts, and local country assets, net of local country liabilities. The amounts associated with foreign exchange and derivative contracts are presented after taking into account the impact of legally enforceable master netting agreements. (c) Commitments include outstanding letters of credit, undrawn commitments to extend credit, and the gross notional value of credit derivatives where JPMorgan Chase is a protection seller. (d) The prior period amounts have been revised to conform with the current period presentation. (Unaudited) (in millions) December 31, Governments Banks Other (a) Net local country assets Total cross-border outstandings (b) Commitments (c) Total exposure (d) Germany 2018 $ 12,793 $ 7,769 $ 15,393 $ 29,577 $ 65,532 $ 67,973 $ 133,505 2017 17,751 5,357 12,320 20,117 55,545 65,333 120,878 2016 22,332 2,118 14,310 25,269 64,029 74,099 138,128 Cayman Islands 2018 $ 1 $ 308 $ 105,857 $ 20 $ 106,186 $ 45,073 $ 151,259 2017 5 462 61,268 58 61,793 12,361 74,154 2016 18 107 74,810 84 75,019 10,805 85,824 Japan 2018 $ 282 $ 9,803 $ 4,167 $ 40,247 $ 54,499 $ 51,901 $ 106,400 2017 1,082 17,159 12,239 25,229 55,709 52,928 108,637 2016 865 16,522 5,209 48,505 71,101 52,553 123,654 France 2018 $ 12,556 $ 3,499 $ 21,571 $ 2,771 $ 40,397 $ 105,845 $ 146,242 2017 12,975 7,083 15,329 2,471 37,858 83,572 121,430 2016 10,871 4,076 26,195 3,723 44,865 89,780 134,645 Italy 2018 $ 9,401 $ 4,098 $ 5,145 $ 1,375 $ 20,019 $ 61,326 $ 81,345 2017 11,516 4,524 4,499 611 21,150 61,005 82,155 2016 12,290 4,760 4,487 848 22,385 63,647 86,032 Ireland 2018 $ 185 $ 45 $ 19,439 $ — $ 19,669 $ 5,585 $ 25,254 2017 630 318 19,630 — 20,578 5,728 26,306 2016 148 664 18,916 — 19,728 5,467 25,195