But of the eight, only one is currently below the new capital threshold: JPMorgan Chase, which needs to come up with an additional USD 12.5 billion in capital by January 2019, when the new rules will be fully phased in.
Besides JPMorgan, the institutions identified as global systemically important banks and subject to the new rule are Bank of America, Wells Fargo, Goldman Sachs, Morgan Stanley, Bank of New York Mellon, Citigroup and State Street.
The extra capital required would help "to ensure that the GSIB has sufficient capital to continue its operations during times of stress and to protect the financial system from the spillover risks of its failure."
Essentially, the new rule requires banks to increase their levels of equity to account for higher-risk activities, or to cut back those activities.
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The bank had been singled out in a congressional report in November as having a particularly high and risky exposure to the physical commodity market.
The threat of risky activity by the largest banks to the financial system became clear in the 2008 financial crisis, when the government was forced to prop up some of the largest institutions to protect them from large losses and extreme funding vulnerabilities.