JPMorgan Is Bank Most Crucial to Financial Stability

JPMorgan Chase & Co. is the bank most integral to the stability of the global financial system, followed by HSBC Holdings Plc and Citigroup Inc., according to a U.S. study.

U.S.-based banks account for half of the 10 lenders that ranked highest for “systemic importance” in the report released Aug. 4 by the Office of Financial Research (OFR). Bank of America Corp., Goldman Sachs Group Inc. and Morgan Stanley also were in the top 10.

The researchers evaluated factors that global regulators use to assess systemic importance, including size, complexity and how difficult the bank would be to replace if ...