Daily News: November 12, 2013

Reuters: JPMorgan, HSBC Top Global Banks Capital Surcharge List

Reuters reported that JP Morgan and HSBC topped the list of the world’s top 29 banks that must hold extra capital starting in 2016 because of their size and reach, the Financial Stability Board (FSB) said.

The FSB is the regulatory taskforce for the 20 biggest economies, whose leaders agreed in 2011 on extra capital requirements to keep top lenders stable, in order to shield taxpayers from having to bail out banks as they did in the recent financial crisis, Reuters said further.

To see the FSB list of banks, click here.

To read the entire Reuters article, click here.