JPMorgan & Others Impacted By FSB Decision: Financial Business Review
JPMorgan Chase & Co. (NYSE:JPM), Citigroup (NYSE:C), Deutsche Bank (NYSE:DB), and HSBC Holdings (NYSE:HBC) will now be required to retain an additional 2.5 percent of Tier 1 Capital, besides the 7 percent minimum mandated under Basel III rules, said the Financial Stability Board on Thursday. Further, Barclays (NYSE:BCS) and BNP Paribas will have to keep an extra 2 percent, and 8 others will need 1.5 percent. In all, 28 banks are considered “global systemically important” and thus are subject to the extra capital requirement.
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