Bank of America faces higher additional capital requirements as its systemic importance is raised

The systemic importance of Bank of America has been upgraded by the Financial Stability Board (FSB), and thus will face higher capital requirements.

In the FSB's list of Global Systemically Important Banks (GSIB), this bank has been elevated to the third highest category. The additional capital buffer requirement facing the company has increased from 1.5% to 2%. Deutsche Bank has been downgraded by one category, with the additional capital requirement reduced to 1%. No other adjustments have been made compared to the previous year.