JPMorgan Chase dropped one rung on the Financial Stability Board’s annual rankings of systemically important banks to sit alongside Citigroup and HSBC Holdings as one of the world’s three most important banks.

Europe's largest lender could start charging for basic banking services "in some markets" because low interest rates meant they were losing money, Chief Financial Officer Ewen Stevenson said on a call with reporters Tuesday after the bank reported third-quarter earnings.

The global bank, which has already closed more than 30% of its U.S. branches this year, indicated that the pandemic is prompting it to adjust its plans on the fly.

HSBC, Bank of the West and Fannie Mae are among those offering green mortgage bonds, financing commercial clients’ efforts to rein in carbon emissions and developing other novel products that help customers tackle environmental challenges.

Led by HSBC, European banks account for the largest share of the announced reductions, according to a Bloomberg analysis.

The central bank said it had miscalculated the loss rates for certain public welfare investments, which led to incorrect capital requirements for the two companies.

Eight of the top 15 firms increased headcount this year through June, while only four reduced it.

Longtime executive Christine Lowthian had been serving as interim chief compliance officer at HSBC Bank USA since April.

Banks' fear of big penalties, the changing tactics of nimble criminals and a greater openness among regulators to new approaches are among the factors driving big investments.

HSBC is planning to shift services away from its branches in a push to make more of its customers migrate to its digital and mobile channels as it embarks on a massive cost and jobs cutting program.