JPMorgan Chase & Co. warned that new regulatory proposals will force the bank to hold onto $20 billion more of capital, a move that Chief Executive Officer Jamie Dimon criticized for locking up those funds “for no good reason.”

Chief Financial Officer Jeremy Barnum cited a “persistent miscalibration” of the surcharge on the biggest banks, and detailed the financial impact to his firm. JPMorgan also reiterated its recommendation for changing the so-called G-SIB surcharge.