The Federal Reserve has issued a list of 15 firms that require additional fed oversight due to their heightened systemic risks.
Those firms include four of the biggest U.S. lenders, such as JP Morgan Chase and Bank of America.
The central bank stated that the firms “may pose elevated risks to U.S. financial stability,” and will be examined by the Large Institution Supervision Coordinating Committee.
The committee is comprised of economists, lawyers, payment systems experts and other analysts looking for trends and risks in the financial arena.
The 15 firms that are to be reviewed are:
American International Group, Inc. (AIG)
Bank of America Corporation (BAC)
The Bank of New York Mellon Corporation (BK)
Barclays PLC (BCS)
Citigroup Inc. (C)
Credit Suisse Group AG (CS)
Deutsche Bank AG (DB)
General Electric Capital Corporation
The Goldman Sachs Group, Inc. (GS)
JP Morgan Chase & Co. (JPM)
Morgan Stanley (MS)
Prudential Financial, Inc. (PRU)
State Street Corporation (STT)
UBS AG (UBS)
Wells Fargo & Company (WFC)
The LISCC’s goal is to strengthen bank oversight “to reduce the probability of, and cost associated with, their material financial distress or failure,” the Fed says on its website.