However, it then emerged that JPMorgan Chase accounted for the entire deficit on its own! In fact, the Fed estimated JPMorgan's capital shortfall at a whopping $22 billion, with the other seven banks already meeting the central bank's standards. For reference, JPMorgan earned $22.1 billion in net income during the trailing 12 months. That observed shortfall could well impact JPMorgan's 2015 dividend and stock buyback program, which must be approved by the Federal Reserve. In order to fill the "hole," the Fed could effectively order the bank to reduce its dividends and/or share repurchases.