Global financial regulators boosted capital requirements for JPMorgan Chase & Co., Goldman Sachs Group Inc. and BNP Paribas SA 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% of common equity Tier 1 capital 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.