Directions: Select the most appropriate phrase to replace the underlined phrase in the given sentence to make it grammatically correct. Select 'No correction required' as the answer, if the sentence is correct as it is.

Regulators in America have plans to increase the amount of capital that its eight largest banks can hold and banks will have until 2018 to comply.

[IBPS-RRB (OFFICER SCALE-1), 2015]