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JPMorgan and Goldman Sachs awarded higher capital buffers

Global financial regulators have tightened capital requirements for JPMorgan Chase & Co., Goldman Sachs Group Inc. and BNP Paribas SA under rules intended to avoid a repeat of the 2008 global financial crisis, during which the biggest lenders were found to be too big to fail.

The Financial Stability Board in Basel, Switzerland, said the three banks would be required to set aside an additional 0.5% of Tier 1 capital under rules for the world’s largest lenders, the so-called banks d Global systemic importance, of which there are currently 30. The higher requirements will take effect in January 2023, the FSB said in a statement on Tuesday.

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