15 top firms under extra scrutiny

Wall Street

Heightened systemic risks.

The Federal Reserve released a list of 15 firms that merit an extra layer of supervision because they pose heightened systemic risks, including JPMorgan and Bank of America.

Bloomberg News reports that the tally published on the Fed’s website Thursday listed the four largest U.S. lenders, the biggest clearing and custody banks such as Bank of New York Mellon, and Wall Street firms Goldman Sachs and Morgan Stanley. 

Other members are insurer American International Group, the General Electric Capital and four of Europe’s largest financial companies.

The firms 'may pose elevated risks to U.S. financial stability', the central bank said. They’ll be examined by the Large Institution Supervision Coordinating Committee, a cross-disciplinary unit of economists, supervisors, lawyers and payment systems experts looking for trends and risks shared across these firms.

Citigroup, Wells Fargo, State Street, Prudential Financial, Barclays, Credit Suisse, Deutsche Bank and UBS round off the list.

To access the complete Bloomberg article hit the link below:

Fed Lists 15 Firms to Get Extra Scrutiny at Special Unit

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