FSB unveils list of banks with 'global Sifi' status

Abstract

The Financial Stability Board (FSB) released a list of 29 banks that it considers global systemically important financial institutions (G-Sifis) at the G-20 Cannes summit on November 4. Of the 29, four banks are from Asia, with three from Japan and one from China. European banks dominate the list with 17 banks, followed by eight from the US. Nomura, Standard Chartered and China's largest bank, ICBC, along with the largest banks in Australia, Korea and Singapore did not make the list, although they may yet be judged national Sifis.