JPMorgan Chase & Co is looking at growth opportunities through government-assisted acquisitions of troubled institutions, despite the obstacle posed by deposit caps, said Oppenheimer and Co analysts, who met JPMorgan's chief financial officer earlier this week.

The analysts noted that JPMorgan's $2.1 trillion in assets accounted for 17 percent of the $12.1 trillion in assets in the Federal Reserve system, and that all the Federal Deposit Insurance Corp (FDIC) depository institutions combined have just $13.8 trillion.

Oppenheimer analysts, including Chris Kotowksi, questioned CFO Mike Cavanagh on whether authorities would allow JPMorgan to grow given its huge size.

Cavanagh acknowledged that deposit caps were an obstacle to growth, but added it would not be in the case of an assisted acquisition of a troubled institution, analysts wrote in a note to clients.

By being patient, well capitalized and supportive, JPMorgan probably remains a favored 'go to' solution for regulators in solving other problem situations when otherwise their size might have started to become a constraint, they said.

JPMorgan shares were down about 4 percent at $35.86 in morning trade on the New York Stock Exchange.

(Reporting by Tenzin Pema in Bangalore; Editing by Anil D'Silva)