I think it's more than one problem these repos are handling. Yes, a bank is probably in trouble. DB comes to mind. JPM is also involved and no one thinks JPM is in trouble so why would JPM be so involved in these repos? Perhaps they are offloading Treasuries from sovereign/foreign holders like the Chinese? The Chinese, for example, aren't going to plainly dump trillions in T's into the open market. They'd instead approach a JPM, put up their T's as collateral for cash loans from JPM (not unlike the Fed's repo operations), then not repay. JPM is left with the Treasuries and then dumps them onto the Fed via repos. Sneaking in money laundering like this is standard procedure for bankers.

Btw anyone who still thinks all these Trump admin meetings with the Chinese is about swapping dollars for plastic Walmart shit, aka a "trade deal", is a moron. This is about ending the dollar reserve system and turning over assets to the Chinese, who slaved away for many years to finance the deficit spending that's been used to fund the military, so the military can complete the Belt and Road Initiative from China to Israel.