Photographer: Ed Jones/AFP/Getty Images

Wall Street's biggest banks are set to borrow more than they usually do after reporting second-quarter earnings, taking advantage of falling yields and tapping debt markets before the U.S. presidential election potentially brings market turmoil later this year.

The six biggest U.S. banks could borrow $21 billion to $24 billion after they post results, JPMorgan Chase & Co. credit analyst Kabir Caprihan wrote in a research note on Monday. Their average for July was roughly $17 billion over the past decade, but he expects it to be higher this time.

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