JP Morgan remains the world’s most systemically important bank

JP Morgan remains the world’s most systemically important bank

2022/11/21 at 4:20 am
2022/11/21 at 4:20 am

LONDON, Nov 21  – JP Morgan remains the world’s most systemically important bank, according to the latest ranking from the G20 Financial Stability Board (FSB) released on Monday.

The FSB began drawing up this annual ranking after the global financial crisis more than a decade ago, requiring the world’s largest lenders an additional cushion of capital, calibrated at five levels, and stricter control of operations.

JP Morgan remains at Tier 2 – there is still no one in the higher category with more capital requirements.

“The 30 banks on the list remain the same as on the 2021 list. Within the list, one bank has moved to a higher bucket, Bank of America has moved from Tier 2 to Tier 3,” the FSB said in a statement. a statement.

Bank of America joins Citigroup and HSBC in category 3.

China Construction Bank and BNP Paribas have been downgraded.

Changes in capital requirements will apply from January 1, 2024.

Cross-border exposures within the European Union banking union have been recognized in the calibration of this year’s ratings involving European banks, the FSB said.

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