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Citi joins top tier of globally systemic banks

Citigroup has moved up on the Group of 20 Financial Stability Board’s list of globally systemically important banks, joining JPMorgan Chase in the top tier, where banks face a 2.5% capital surcharge in addition to global minimum requirements. HSBC moved down to the second tier, where banks face a 2% surcharge, and Bank of America rose to that category.

Reuters (11/21)

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