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Bank of America faces higher additional capital requirements as its systemic importance is raised.
Golden Finance reports that the systemic importance of American banks has been upgraded by the Financial Stability Board (FSB), thus facing higher capital requirements. In the FSB's list of Global Systemically Important Banks (GSIB), this bank has been elevated to the third highest tier. The additional capital buffer requirement faced by the company has increased from 1.5% to 2%. Deutsche Bank has been downgraded by one tier, with the additional capital requirement reduced to 1%. Compared to the previous year, no other adjustments have been made.