JPMorgan Chase & Co. has set up a contingency plan allowingit to resume trading the bonds of any nation exiting the euro areato avoid disruption to its clients.

The largest U.S. bank by assets said while a break-up of the17-nation currency zone was not its central view, the possibilityhas convinced it to establish procedures to limit any disruption toits bond-trading activities. The implied probability of a countryleaving the monetary union is 53 percent for next year, and 63percent by the end of 2014, based on bets at Intrade.com. Spainhasn't ruled out quitting the euro, El Confidencial reported thisweek.

“We've been doing some contingency work to ensure that we have arobust system and ability to absorb shocks if on a Sunday night asovereign decides to leave the euro,” Carl Norrey, head of Europeanrates securities at JPMorgan in London, said in interview on July23. “The probability of a country exiting the euro is no longerzero.”