3 US Banks Assessed as More Systemically Important Financial Insitutions

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The Financial Stability Board (FSB), in consultation with Basel Committee on Banking Supervision (BCBS) and national authorities, has identified the 2016 list of global systemically important banks (G-SIBs), using end-2015 data and the updated assessment methodology published by the BCBS in July 2013.

In November 2011 the FSB published an integrated set of policy measures to address the systemic and moral hazard risks associated with systemically important financial institutions (SIFIs).2 In that publication, the FSB identified as global systemically important financial institutions (G-SIFIs) an initial group of G-SIBs, using a methodology developed by the BCBS. The November 2011 report noted that the group of G-SIBs would be updated annually based on new data and published by the FSB each November.

G-SIBs are subject to: Higher capital buffer requirements; Total Loss-bsorbing;Capacity (TLAC) requirements; Resolvability requirements; and Higher supervisory expectations.

Three US banks – Citigroup, Bank of America and Wells Fargo – became more systemically important- as did the Industrial and Commercial Bank of China, all moved up in the latest ranking of so-called global systemically important banks by the Financial Stability Board, a Switzerland-based group of central bankers and financial regulators from the world’s largest economies.

The List

Citigroup

JP Morgan Chase

Bank of America

BNP Paribas

Deutsche Bank

HSBC

Barclays

Credit Suisse

Goldman Sachs

Industrial and Commercial Bank of China Limited

Mitsubishi UFJ FG

Wells Fargo

Agricultural Bank of China

Commercial Bank of China

Bank of New York Mellon

China Construction Bank

Groupe BPCE

Groupe Crédit Agricole

ING Bank

Mizuho FG

Morgan Stanley

Nordea

Royal Bank of Scotland

Santander

Société Générale

Standard Chartered

State Street

Sumitomo

Mitsui FG UBS

Unicredit Group

Full report here.

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