Bigger capital buffer for HSBC

HSBC and JP Morgan were yesterday told to hold bigger capital buffers to reflect their importance to the banking system. They topped the list of systemically important lenders put together by the Basel Committee, an international authority which monitors risks. The pair must hold an extra 2.5 per cent of loss absorbing capital. In the next tier of banks, lenders like Barclays and Citi will have to hold an extra two per cent on their buffer.