American consumers are still buying like crazy, but the biggest credit card companies are hiding their funds for rainy days

• The stock market remains unstable In the aftermath of President Donald Trump’s so-called “liberation day” tariffs, at least consumer spending has not been significantly affected. During quarterly revenue calls, credit card companies have provided strong outlook on consumer spending, but many have taken steps to mitigate losses amid a potential recession.

As President Donald Trump’s trade policy contributes Stock market anxietyHis so-called “Release date“Taxes have not yet been hit with quarterly financial reports of the largest lenders in the country where consumer spending patterns often appear first.

Credit card companies’ revenue reports remained strong as consumers borrowed, spent and opened credit cards more than before.

“Consumers continue to be resilient and discernible in spending,” said Mark Mason, Citigroup’s chief financial officer, in the company. Quarterly revenue calls last week. Mason also highlighted revised consumer sentiment.

“We’re seeing the transition to essentials and we’re away from travel and entertainment,” Mason said.

jpmorgan chain It was reported that credit and debit card spending increased by 7% year-on-year, but people noted that they had high credit card balances. moreover, Bank of America Coupled with a decline in late payments from loan holders in the previous quarter, we outlined a 4% bump in credit and debit card spending from the previous year.

Despite aggressive growth, major credit card companies are preparing for a recession, and late payments have already risen to their highest level in five years.

“The focus is on the future, but this is clearly extraordinarily uncertain,” said Jeremy Barnum, chief of JPMorgan Chase Finance, in the bank’s latest bank. Revenue Call April 11th.

Banks added to the itself as jpmorgan holds the risk of a 60% recession Rainy Day Funds In the event of future losses, we will increase the credit loss (ACL) allowance by $973 million, bringing the net reserve total to $27.6 billion. The ACL acts as a buffer to cover those losses if the customer does not pay credit card invoices.

Additionally, the company has allocated $3.3 billion to its loan loss clause. This is a 73% increase from $1.9 billion issued to combat unpaid loans a year ago. JPMorgan also maintains $1.5 trillion in cash and marketable securities.

JPMorgan did not respond immediately Fortune Request a comment.

In addition to JPMorgan, Citi maintains security in the event of a slump. The bank has increased credit costs of more than 15% to $2.7 billion from the previous year.

Additionally, Citi increased its total reserves in the first quarter by $1 billion, from $21.8 billion to $22.8 billion, calling for security as the US economy moves south. The banks also maintain strong liquidity and capital status, with cash levels reaching $960 billion.

City didn’t return soon Fortune Request a comment.

This story was originally introduced Fortune.com