JPMorgan, Goldman Sachs Told to Boost Capital Buffers
- Date: 23-Nov-2021
- Source: The Wall Street Journal
- Sector:Financial Markets
- Country:Middle East
JPMorgan, Goldman Sachs Told to Boost Capital Buffers
Global financial regulators told JPMorgan Chase & Co., Goldman Sachs Group Inc. and BNP Paribas SA to boost their capital buffers under rules intended to help avoid a repeat of the 2008 global financial crisis, in which the largest lenders were deemed too big to fail.
The Financial Stability Board in Basel, Switzerland, said the three banks would be required to set aside a further 0.5% under rules for the world’s largest lenders—the so-called global systemically important banks, of which there are currently 30. The higher requirements become effective in January 2023, the FSB said in a statement Tuesday.
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