HSBC, JPMorgan Top Global Banks Capital Surcharge List

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JP Morgan (JPM.N) and HSBC (HSBA.L) topped the list of the world's top 29 banks that must hold extra capital from 2016 because of their size and reach, the Financial Stability Board said on Monday.

JP Morgan

JP Morgan (JPM.N) and HSBC (HSBA.L) topped the list of the world's top 29 banks that must hold extra capital from 2016 because of their size and reach, the Financial Stability Board said on Monday.

The two banks are in the top "bucket" and will have to hold an extra 2.5 percent of risk-weighted core capital on top of the 7 percent minimum all banks across the world must hold by 2019 under the Basel III accord.

The FSB was publishing an annual update of its list of globally systemic banks with no bank occupying the top "bucket" with a 3.5 percent capital buffer.

Next year's list from the FSB in November will determine which banks will actually have to comply with the new surcharge rule from 2016.

Barclays, BNP Paribas, Citigroup and Deutsche Bank have been placed into the 2 percent surcharge bucket -- the latter two dropping from the 2.5 percent band last year.

Bank of America, Credit Suisse, Goldman Sachs, Credit Agricole, Mitsubishi UFJ, Morgan Stanley and Royal Bank of Scotland and UBS face a 1.5 percent surcharge.

The following banks were listed under the 1 percent surcharge "bucket": Bank of China, Bank of New York Mellon, BBVA, Groupe BPCE, Industry and Commercial Bank of China, ING, Mizuho, Nordea, Santander, Societe Generale, Standard Chartered, State Street, Sumitomo Mitsui, Unicredit and Wells Fargo.

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