global-minimum

Citi and JPMorgan top list of globally systemic banks

By Huw Jones LONDON (Reuters) – Citi has joined JPMorgan at the top of global regulators' list of systemically important banks, replacing HSBC and meaning the U.S. bank will have to hold extra capital from 2019 to help preserve financial stability. The group of 20 economies (G20) agreed after the 2007-09 financial crisis that top banks, whose size and complexity mean a collapse could wreak havoc in markets, should hold extra capital, according to the level of risk they present. In the annual update of rankings published on Monday by the…

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Citi and JPMorgan top list of globally systemic banks