Wells Fargo & Co 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. Regulators define systemically important banks as those whose failure could pose a threat to the global financial system.
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Wells Fargo’s systemic importance rose, says U.S. report