Citigroup, Wells Fargo, Bank Of America Pose Higher Systemic Risk To Global Financial Market, Oversight Group Says
November 23, 2016
A global financial regulator declared three of America’s largest banks sources of higher risk to the world’s financial system compared to last year, requiring them to hold more capital as a sort of insurance against failure and the resulting ripple effects across the global economy. The announcement on Monday came less than two weeks after banking industry deregulation-friendly candidate Donald Trump won the presidential election.