Wells Fargo & Co (WFC.N) is the only large U.S. bank to become “significantly” more important to the global financial system in recent years, according to a report on Wednesday by a U.S. government research group.
The Office of Financial Research, a financial stability watchdog housed within the U.S. Treasury Department, studied the systemic importance of the world’s largest banks using 2014 data from the Basel Committee on Banking Supervision.
It then assigned a score to each bank based on factors including size, complexity, interconnectedness and cross-jurisdictional activity, as well as how easily the products they offer can be provided by competitors.
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