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Citi, JPMorgan Hit with High Capital Surcharge

NOV 1, 2012 5:36pm ET

Of the eight U.S. banks that must face a capital surcharge under Basel III, only Citigroup and JPMorgan Chase have to pay the highest current level of 2.5%. Bank of America and Bank of New York Mellon will be assessed a 1.5% surcharge, while Wells Fargo will pay 1%.

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