No V-shape recovery in $JPM estimates. Now assumes 21Q4 US employment at 7.7% (was 4.6%) and real GDP -3.0% (was +0.3%). 20Q2 provision incl. $8.9bn reserve build, split 49/51 in Retail/Wholesale, w/ $2.9bn in Card. Payment deferrals now involved $79bn, incl. 6.9% of Home Lending.