JPMorgan Chase & Co. Chief Executive James Dimon said his bank hasn’t sought looser regulations to help it handle the economic collapse caused by the coronavirus pandemic, detailing instead its ability to keep lending in even more dire circumstances.

In his annual letter published Monday, Mr. Dimon said the work preparing JPMorgan to be a “port in the storm”—a long obsession of his—means the bank can handle what he expects to be a “bad recession.”

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