The G-20 agreed after the 2007-09 financial crisis that top banks should hold extra capital, according to the risk they present.
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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 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.HSBC joins BNP Paribas and Deutsche Bank in the next category down, with a surcharge of 2 percent.Barclays dropped a category to the 1.5 percent surcharge group.Industrial and Commercial Bank of China and Wells Fargo rose a category to join the U.K. bank.
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