American Express set to become category III bank
Payment card lender to be subject to stricter capital, liquidity and prudential requirements from next quarter
American Express will be designated as a category III bank in the third quarter after exceeding $250 billion in average consolidated assets.
The reclassification will elevate the bank from its current category IV status under the US Federal Reserve’s tailoring framework, leading to greater regulatory scrutiny and tighter capital and liquidity requirements.
Although the average assets for the quarter, which counts towards determining bank categories, have not yet been disclosed, the bank confirmed
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