Jamie Dimon says JPMorgan has begun to prepare for potential US default

JPMorgan Chase CEO Jamie Dimon says America's biggest bank is by and by getting ready for a potential US default despite the fact that he anticipates that Congress should stay away from that "possibly cataclysmic" occasion by lifting the obligation roof. 

In a meeting with Reuters on Tuesday, Dimon said JPMorgan has started situation making arrangements for how a potential default would influence monetary business sectors, capital proportions, customer agreements and America's FICO assessments. That is something Dimon has demonstrated the bank did during past narrow escapes with the obligation roof. 

"Each and every opportunity this comes up, it sorts out, yet we ought to never at any point get this nearby," Dimon told Reuters. "I simply think this is mixed up and one day we ought to simply have a bipartisan bill and dispose of the obligation roof. It's all legislative issues." 

Depository Secretary Janet Yellen told legislators Tuesday that the national government will run out of money and unprecedented measures by October 18, making way for a possible default assuming Congress doesn't raise as far as possible previously. 

Dimon said JPMorgan is searching through customer agreements to plan for a likely default. 

"In the event that I recollect effectively, the last time we got ready for this, it cost us $100 million," he said.