List of systemically important banks

Certain large banks are tracked and labelled by several authorities as systemically important financial institutions, depending on the scale and the degree of influence they hold in global and domestic financial markets. Since 2011, the Financial Stability Board has published a list of global systemically important banks (G-SIBs), while individual countries also maintain their own lists of domestic systemically important banks (D-SIBs), also known in Europe as "national SIFIs". In addition, special lists of regional systemically important banks (R-SIBs) also exist.

This article is about a list of systemically important banks. For the umbrella term "SIFI" or "Systemically Important Financial Institution", which in addition to banks also includes insurance companies and financial market infrastructure providers deemed systemically important by regulators, see Systemically important financial institution.

In 2009, as a regulatory response to the revealed vulnerability of the banking sector in the financial crisis of 2007–08, and attempting to come up with a solution to solve the "too big to fail" interdependence between G-SIBs and the economy of sovereign states, the Financial Stability Board (FSB) started to develop a method to identify G-SIBs to whom a set of stricter requirements would apply. The first publication of some leaked unofficial G-SIB lists, during a time when the FSB identification method was still being tested and subject for subsequent adjustments, took place in November 2009 and November 2010.[1][2][3] The first official version of the G-SIB list was published by FSB in November 2011, and has ever since been updated each year in November.[4][5][6][7][8] This G-SIB list is the first one shown below.

All G-SIBs and D-SIBs with headquarters in the US and Europe are required each year to submit an updated emergency Resolution Plan to their Financial Supervision Authority.[9][10] Basel III also requires that all identified G-SIBs no later than March 2018, shall operate with a minimum total capital adequacy ratio comprising:[11]

This requirement towards G-SIBs depend on an indicator-based measure of size, interconnectedness, complexity, non-substitutibility and global reach, elevating it to be 1.0% or 1.5% or 2.0% or 2.5% or 3.5% higher, compared to the similar Basel III capital requirement at 7% towards banks not contained on the list.

In addition to the Basel III Capital Adequacy Ratio requirements, on November 10, 2014 the FSB issued a consultative document that defines a global standard for minimum amounts of Total Loss Absorbency Capacity ("TLAC") to be held by G-SIBs. The TLAC are amounts to be held in addition to the Capital Adequacy Ratio requirements, by G-SIBs.[12] This proposal was under consultation until February 2, 2015, when the requirement was finalized. The FSB issued the final minimum total loss-absorbing capacity (TLAC) standard for 30 G-SIBs 9 November 2015.[13]

The second list, further below, include all those financial institutions having been identified as systemically important by a national regulator, the so-called D-SIBs. For the United States, this list include all those financial institutions not being big enough for G-SIB status, but still with high enough domestic systemically importance making them subject to the most stringent annual Stress Test (USA-ST) by the Federal Reserve.[14]

In 2013, the EU also adopted a regulation to identify all Domestic SIBs within each EEA member state, which after a phase-in during 2015–18, then shall comply with some even higher total capital adequacy ratio requirements – in accordance with how systemically important they are. Beside of expanding the SIB list, so that it now both include G-SIBs and D-SIBs, the regulation also ensure that all European G-SIBs (with headquarters in one of the EEA member states), will face some higher capital adequacy ratio requirements compared to those required by the FSB.[11]

Both Basel III and the EU regulation, in addition also introduced a potential counter-cyclical capital ratio buffer, which can be enforced by national authorities on top of the noted total capital adequacy ratios, with demands of up till 2.5% extra Common Equity Tier 1 capital towards all financial institutions (incl. SIBs), during years where the total lending in the specific nation starts to grow faster than the national GDP.[11]

List of Global Systemically Important Banks (G-SIBs)
Legend
  Former G-SIB
List of all global systemically important banks (as of Nov 2018)[8]
Entity Region HQ country Reporting currency FSB-G-SIB USA-ST HQ regulator Notes Total capital ratio requirement
(% of RWA)[lower-alpha 1]
Mizuho FG Asia  Japan ¥, Yen 2011–present   FSAj   11.5% (CET1=min.8%)
Sumitomo Mitsui Asia  Japan ¥, Yen 2011–present   FSAj   11.5% (CET1=min.8%)
Mitsubishi UFJ FG Asia  Japan ¥, Yen 2011–present   FSAj   12.0% (CET1=min.8.5%)
Bank of China Asia  China 元, Renminbi 2011–present   CBIRC Majority state-owned 11.5% (CET1=min.8%)
ICBC Asia  China 元, Renminbi 2013–present   CBIRC Majority state-owned 11.5% (CET1=min.8%)
Agricultural Bank of China Asia  China 元, Renminbi 2014–present   CBIRC Majority state-owned 11.5% (CET1=min.8%)
China Construction Bank Asia  China 元, Renminbi 2015–present   CBIRC Majority state-owned 11.5% (CET1=min.8%)
Dexia Group EMEA  Belgium €, Euro 2011   FSMA Underwent resolution October 2011.[15] Dexia Belgium was split off to form Belfius, while remaining part of the group was left to be liquidated.[16] -
BNP Paribas EMEA  France €, Euro 2011–present   AMF   12.5% (CET1=min.9%)
Crédit Agricole EMEA  France €, Euro 2011–present   AMF   11.5% (CET1=min.8%)
Groupe BPCE EMEA  France €, Euro 2011–2016, 2018   AMF 10.5% (CET1=min.7%)
Société Générale EMEA  France €, Euro 2011–present   AMF   11.5% (CET1=min.8%)
Commerzbank EMEA  Germany €, Euro 2011   BaFin Removed due to declining systemic importance 10.5% (CET1=min.7%)
Deutsche Bank EMEA  Germany €, Euro 2011–present   BaFin   12.5% (CET1=min.9%)
Unicredit Group EMEA  Italy €, Euro 2011–present   CONSOB   11.5% (CET1=min.8%)
ING Bank EMEA  Netherlands €, Euro 2011–present   DNB   11.5% (CET1=min.8%)
Banco Bilbao Vizcaya Argentaria EMEA  Spain €, Euro 2012–2015   BdE Removed due to declining systemic importance 10.5% (CET1=min.7%)
Santander EMEA  Spain €, Euro 2011–present   BdE   11.5% (CET1=min.8%)
Nordea EMEA  Finland €, Euro 2011–present   FIN-FSA Removed due to declining systemic importance 11.5% (CET1=min.8%)
Credit Suisse EMEA   Switzerland Fr, Swiss franc 2011–present   FINMA   12.0% (CET1=min.8.5%)
UBS EMEA   Switzerland Fr, Swiss franc 2011–present   FINMA   11.5% (CET1=min.8%)
Royal Bank of Scotland EMEA  United Kingdom £, GBP 2011–2018   PRA Removed due to declining systemic importance 12.0% (CET1=min.8.5%)
Barclays EMEA  United Kingdom £, GBP 2011–present   PRA   12.5% (CET1=min.9%)
HSBC EMEA  United Kingdom $, USD 2011–present   PRA   13.0% (CET1=min.9.5%)
Lloyds Banking Group EMEA  United Kingdom £, GBP 2011   PRA Removed due to declining systemic importance 10.5% (CET1=min.7%)
Standard Chartered EMEA  United Kingdom $, USD 2012–present   PRA   11.5% (CET1=min.8%)
Royal Bank of Canada Americas  Canada $, CAD 2017–present   OSFI   11.5% (CET1=min.8%)
Toronto-Dominion Bank Americas  Canada $, CAD 2019–present   OSFI   11.5% (CET1=min.8%)
Bank of America Americas  United States $, USD 2011–present 2009–present FSOC   12.0% (CET1=min.8.5%)
Bank of New York Mellon Americas  United States $, USD 2011–present 2009–present FSOC   11.5% (CET1=min.8%)
Citigroup Americas  United States $, USD 2011–present 2009–present FSOC   12.5% (CET1=min.9%)
Goldman Sachs Americas  United States $, USD 2011–present 2009–present FSOC   12.0% (CET1=min.8.5%)
JP Morgan Chase Americas  United States $, USD 2011–present 2009–present FSOC   13.0% (CET1=min.9.5%)
Morgan Stanley Americas  United States $, USD 2011–present 2009–present FSOC   12.0% (CET1=min.8.5%)
State Street Americas  United States $, USD 2011–present 2009–present FSOC   11.5% (CET1=min.8%)
Wells Fargo Americas  United States $, USD 2011–present 2009–present FSOC   11.5% (CET1=min.8%)
  1. The listed minimum capital ratios have been defined by FSB, and apply fully towards the G-SIBs as per March 2018. Each country regulator is allowed to set stricter ratios than the minimum FSB requirement ratio, and in most cases have done so. The actual capital ratio requirements imposed by the bank's HQ country can be found in the supplemental D-SIB list.

List of Domestic Systemically Important Banks (D-SIBs)

D-SIBs in the US

For the United States, the D-SIB list include those financial institutions not being big enough for G-SIB status, but still with high enough domestic systemically importance making them subject to the most stringent annual Stress Test (USA-ST) by the Federal Reserve.[14] Strictly speaking, the Financial Stability Oversight Council (FSOC) does not designate any banks or bank holding companies as systemically important, but the Dodd–Frank Act in its terms on the statute imposes heightened supervision standards (including being subject to the annual USA Stress Test) on any bank holding company with a larger than $50 billion balance sheet. Despite the lack of any official D-SIB designation, the banks being subject to the USA Stress Test can be considered to be D-SIBs in the US.[17] The group of banks being stress tested was identical throughout 2009–2013, except for MetLife Bank ceasing its banking and mortgage lending activities in 2012 – and therefore subsequently leaving the group of supervised entities. In 2014 the stress test was expanded from 18 to 30 banks, as a result of a phase-in of the provisions of the Board's Dodd–Frank Act stress test rules, only making the additional 12 entities subject to this stress test starting from 2014.[18]

All G-SIBs and D-SIBs with headquarters in the US are not only required to comply with some stricter capital ratio requirements but also required to submit an updated emergency Resolution Plan each year to the Board of Governors of the Federal Reserve System.[19]

Legend
  Former D-SIB
List of all domestic systemically important banks in the US (as of March 2014)[18]
Entity Region HQ country Reporting currency FSB-G-SIB USA-ST HQ regulator Major exchange(s) IR Notes Total capital ratio requirement
(% of RWA)
Ally Financial Americas  US $, USD   2009– FSOC NYSE IR Formerly GMAC Inc.
American Express Americas  US $, USD   2009– FSOC NYSE IR  
Truist Financial Americas  US $, USD   2009– FSOC NYSE IR  
BBVA Compass Americas  US $, USD   2014– FSOC IR Subsidiary of BBVA
BMO Financial Corp. Americas  US $, USD   2014– FSOC IR Subsidiary of Bank of Montreal. Formerly Harris Financial Corp.
Capital One Financial Americas  US $, USD   2009– FSOC NYSE IR  
Comerica Americas  US $, USD   2014– FSOC NYSE IR  
Discover Financial Services Americas  US $, USD   2014– FSOC NYSE IR  
Fifth Third Bank Americas  US $, USD   2009– FSOC NASDAQ IR  
HSBC North America Holdings Americas  US $, USD   2014– FSOC IR Subsidiary of HSBC Holdings
Huntington Bancshares Americas  US $, USD   2014– FSOC NASDAQ IR  
KeyCorp Americas  US $, USD   2009– FSOC NYSE IR  
M&T Bank Americas  US $, USD   2014– FSOC NYSE IR  
MetLife Americas  US $, USD   2009‑12 FSOC NYSE IR Failed the stress test in 2012, and consequently sold its banking unit to GE Capital[20][21] and its mortgage servicing business to JPMorgan Chase.[22] -
Northern Trust Americas  US $, USD   2014– FSOC NASDAQ IR  
PNC Financial Services Americas  US $, USD   2009– FSOC NYSE IR  
RBS Citizens Financial Group Americas  US $, USD   2014– FSOC NYSE IR Subsidiary of Royal Bank of Scotland
Regions Financial Americas  US $, USD   2009– FSOC NYSE IR  
Santander Holdings USA Americas  US $, USD   2014– FSOC NYSE IR Subsidiary of Santander Group
SunTrust Banks Americas  US $, USD   2009– FSOC NYSE IR  
U.S. Bancorp Americas  US $, USD   2009– FSOC NYSE IR  
UnionBanCal Americas  US $, USD   2014– FSOC IR Subsidiary of Mitsubishi UFJ FG
Zions Americas  US $, USD   2014– FSOC NYSE, NASDAQ IR  

D-SIBs within each of the EEA member states (both domestic and global)

In 2013 a new SIB regulation was formulated and adopted by the European Union, which outlined the responsibility for each EU member state and all of the three other EEA member states, to compose a list of all their domestic SIBs (with the term including not only ordinary banks – but also credit institutions and investment firms), and implement some new total capital ratio requirements towards these identified D-SIBs. The total capital ratio requirements towards D-SIBs, will be stricter than the minimum 10.5% required by Basel III towards all normal sized financial institutions, which comprise a requirement of:

The new stricter EU regulated capital requirements, applying towards all "credit institutions or investment firms" identified as being a D-SIB, basically adds further high quality Common Equity Tier 1 capital buffers on top of the above 10.5% Basel III minimum capital requirement, to be phased in during 2015–2019, with full effect for the calendar year 2019. In addition, the new EU rules also requires all instruments recognised in the Additional Tier 1 capital of any "credit institution or investment firm" to be Contingent Convertibles with the attached clause, that it automatically will be either written down or converted into Common Equity Tier 1 instruments if the Common Equity Tier 1 capital ratio of the institution at any point of time falls below 5.125%.[11][23]

Each national SIB list of the EEA Member States include: The already identified G-SIBs with headquarters in the concerned state, and the Other Systemically Important Institutions (O-SII; which include R-SIBs and D-SIBs) with headquarters/branches in the concerned state - to be identified at the latest on 31 December 2015.[24] The European Banking Authority has published some mandatory guidelines on how the O-SIIs shall be identified in each EEA Member State, which will take effect on 1 January 2015.[25] All identified SIBs in the list below are subject to the new elevated capital ratio requirements, which can be introduced immediately (as in Sweden) or phased in during 2015–2019 (as in Denmark).

This list is incomplete; you can help by expanding it.
EEA member states Identified SIBs Total capital ratio requirement
(CET1+AT1+T2) in 2019
(% of RWA)
 Austria
 Belgium
 Bulgaria
 Croatia
 Cyprus
 Czech Republic
 Denmark[23][26][27] Danske Bank 13.5%+IRP (CET1=min.10% + AT1/T2=max.3.5%+IRP)[lower-alpha 1]
Nordea Denmark 12.5%+IRP (CET1=min.9% + AT1/T2=max.3.5%+IRP)[lower-alpha 1]
Nykredit 12.5%+IRP (CET1=min.9% + AT1/T2=max.3.5%+IRP)[lower-alpha 1]
Jyske Bank 12.0%+IRP (CET1=min.8.5% + AT1/T2=max.3.5%+IRP)[lower-alpha 1]
Sydbank 11.5%+IRP (CET1=min.8% + AT1/T2=max.3.5%+IRP)[lower-alpha 1]
DLR 11.5%+IRP (CET1=min.8% + AT1/T2=max.3.5%+IRP)[lower-alpha 1]
 Estonia
 Finland
 France BNP Paribas
Crédit Agricole
Groupe BPCE
Société Générale
+ yet to be identified O-SIIs
 Germany Deutsche Bank
+ yet to be identified O-SIIs
 Greece
 Hungary
 Iceland
 Ireland
 Italy[28] Unicredit Group
Intesa Sanpaolo
Monte dei Paschi di Siena
 Latvia
 Liechtenstein
 Lithuania
 Luxembourg
 Malta
 Netherlands[29] ING Bank
Rabobank
ABN Amro
SNS Bank
 Norway[30][31] DNB ASA 16.5%+IRP (CET1=min.13% + AT1/T2=max.3.5%+IRP)[lower-alpha 2]
Nordea Bank Norge ASA 16.5%+IRP (CET1=min.13% + AT1/T2=max.3.5%+IRP)[lower-alpha 2]
Kommunalbanken 16.5%+IRP (CET1=min.13% + AT1/T2=max.3.5%+IRP)[lower-alpha 2]
 Poland
 Portugal
 Romania
 Slovakia
 Slovenia
 Spain[33] Banco Santander G-SII and O-SII, 1% buffer
BBVA O-SII, 0.75% buffer
Caixabank O-SII, 0.25% buffer
Bankia O-SII, 0.25% buffer
Banco Sabadell O-SII, 0.25% buffer
 Sweden[34] Swedbank 24.3% (CET1 = min. 19.0% + AT1/T2 = max. 5.3%)[lower-alpha 3]
Svenska Handelsbanken 22.5% (CET1 = min. 17.5% + AT1/T2 = max. 5.0%)[lower-alpha 3]
SEB 19.9% (CET1 = min. 15.4% + AT1/T2 = max. 4.5%)[lower-alpha 3]
Nordea 19.0% (CET1 = min. 14.7% + AT1/T2 = max. 4.3%)[lower-alpha 3]
 United Kingdom[36] HSBC
Barclays
Nationwide Building Society
Standard Chartered Bank
Lloyds Banking Group
Santander UK
Royal Bank of Scotland
The Co-operative Bank
Notes
  1. IRP is an abbreviation of Individual Risk Premium (also known as the "Pillar 2 risk buffer"). For Denmark's seven SIBs, it was equal to a little less than 2% in average when measured in 2013. The exact IRP figure shall each year be recalculated individually for each financial institution, by the national supervisor.[23][26] The financial institution BRFkredit was selected to be a SIB in October 2013, being required to respect a total capital ratio of 11.5%+IRP in 2019, but was bought and became an integrated part of Jyske Bank on 30 April 2014 – meaning that it will no longer be subject to comply with the specific SIB-requirement as an independent entity.[27]
  2. The CET1 requirement is phased-in, to be min. 12% per 1 July 2015 and min. 13% per 1 July 2016 onwards, and this requirement include a counter-cyclical capital ratio buffer currently activated to be 1% starting from 1 July 2015 onwards – but subject to potential later adjustment at the discretion of the Financial Supervisory Authority after its quarterly reassessment of the cyclical trends.[30][31] In addition to the CET1-requirement an amount of max.3.5% AT1/T2 will be required in pillar 1 – so that the total capital buffer is min. 16.5% + IRP per 1 July 2016. IRP is an abbreviation of Individual Risk Premium (also known as the "Pillar 2 risk buffer"), and is currently not published by the Norwegian FSA to the public – although the Norwegian Ministry of Finance recently asked the FSA to consider start publishing these figures for each institution in 2015. The IRP figures are in all circumstances recalculated each year by the FSA, based on some updated individual risk assessments.[32]
  3. The capital requirements will apply in full for the four Swedish SIBs already from 1 January 2015. The noted total capital ratio's include each institutions Individual Risk Premium (also known as the "Pillar 2 risk buffer"), calculated on basis of their latest asset review in Q2-2014.[34] The ratios also include an additional counter-cyclical capital ratio buffer of 1%, being required by the Financial Supervisory Authority to be met at the latest on 13 September 2015 – with a weight proportionally to the share of the institutions credit exposures in the cyclical affected sectors,[35] meaning it has the following seize for the four SIBs (as per their exposures at the end of Q2-2014): Handelsbanken=0.49%, Nordea=0.19%, SEB=0.34%, Swedbank=0.57%.[34]

In addition to the total capital ratio requirements noted above, each EEA member state will – as regulated by CRD4 – be allowed also to introduce counter-cyclical capital ratio buffers of up to 2.5% extra Common Equity Tier 1 capital, applying for all financial institutions (incl. SIBs) at the national level, if their national statistics measure the total lending to grow faster than the national GDP.[11]

Additional capital buffer requirements for the resolution phase

As of December 2013,[37][38][39] the EU institutions also started the technical process to approve a new Bank Recovery and Resolution Directive, with entry into force on 1 January 2015,[40] which also outlined the requirement of an extra crisis-management capital buffer, referred to as Minimum Requirement for own funds and Eligible Liabilities (MREL), to be decided by resolution authorities on a case by case basis.[41] The directive so far did not quantify or specify minimum standards for how big the MREL needs to be. MREL aims to ensure that all firms have adequate total loss-absorbing capacity to be used in a possible resolution phase, including sufficient liabilities that could credibly be exposed to loss in resolution. All EU banks and investment firms will be subject to the MREL requirement, which will be set depending on firm specific risk assessments, from January 2016 at the latest. Separately, the FSB is also working on a proposal on Gone-concern Loss-Absorbing Capacity (GLAC) – such as long-term bonded debt – that will apply for G-SIBs. By ensuring that there are a sufficient amount of liabilities available to be bailed in at the point of resolution, GLAC will complement the MREL requirement.[24]

MREL and GLAC are treated (just like leverage ratio requirements), as separate requirements from the total capital ratio requirement.

D-SIBs situated outside EEA or US (both domestic and global)
Other states Identified SIBs Total capital ratio requirement
(CET1+AT1+T2) in 2019
(% of RWA)
 Australia[42] Australia and New Zealand Banking Group 11.5%+IRP (CET1 = min. 8% + AT1/T2 = max. 3.5% + IRP)[lower-alpha 1]
Commonwealth Bank of Australia 11.5%+IRP (CET1 = min. 8% + AT1/T2 = max. 3.5% + IRP)[lower-alpha 1]
National Australia Bank 11.5%+IRP (CET1 = min. 8% + AT1/T2 = max. 3.5% + IRP)[lower-alpha 1]
Westpac Banking Corporation 11.5%+IRP (CET1 = min. 8% + AT1/T2 = max. 3.5% + IRP)[lower-alpha 1]
 Canada[44] Bank of Montreal 11.5%+IRP (CET1=min.8% + AT1/T2=max.3.5% + IRP)[lower-alpha 2]
Bank of Nova Scotia 11.5%+IRP (CET1 = min. 8% + AT1/T2 = max. 3.5% + IRP)[lower-alpha 2]
Canadian Imperial Bank of Commerce 11.5%+IRP (CET1 = min. 8% + AT1/T2 = max. 3.5% + IRP)[lower-alpha 2]
National Bank of Canada 11.5%+IRP (CET1 = min. 8% + AT1/T2 = max. 3.5% + IRP)[lower-alpha 2]
Royal Bank of Canada 11.5%+IRP (CET1 = min. 8% + AT1/T2 = max. 3.5% + IRP)[lower-alpha 2]
Toronto-Dominion Bank 11.5%+IRP (CET1 = min. 8% + AT1/T2 = max. 3.5% + IRP)[lower-alpha 2]
Desjardins Group 11.5%+IRP (CET1 = min. 8% + AT1/T2 = max. 3.5% + IRP)[lower-alpha 2]
 China Bank of China ??% (???)
ICBC ??% (???)
Agricultural Bank of China ??% (???)
+ yet to be identified O-SIIs ??% (???)
 Hong Kong[46] The Hongkong and Shanghai Banking Corporation 15%+IRP (CET1 = min. 11.5% + AT1/T2 = max 3.5% + IRP)[lower-alpha 3]
Bank of China (Hong Kong) 14%+IRP (CET1 = min. 10.5% + AT1/T2 = max 3.5% + IRP)[lower-alpha 3]
Standard Chartered Hong Kong 14%+IRP (CET1 = min. 10.5% + AT1/T2 = max 3.5% + IRP)[lower-alpha 3]
Bank of East Asia 13.5%+IRP (CET1 = min. 10% + AT1/T2 = max 3.5% + IRP)[lower-alpha 3]
Hang Seng Bank 13.5%+IRP (CET1 = min. 10% + AT1/T2 = max 3.5% + IRP)[lower-alpha 3]
Industrial and Commercial Bank of China (Asia) 13.5%+IRP (CET1 = min. 10% + AT1/T2 = max 3.5% + IRP)[lower-alpha 3]
India State Bank of India

ICICI Bank

HDFC Bank
 Japan Mitsubishi UFJ FG ??% (???)
Mizuho FG ??% (???)
Sumitomo Mitsui ??% (???)
+ yet to be identified O-SIIs ??% (???)
  Switzerland[47][48] Credit Suisse 19% (CET1 = min. 10% and AT1/T2 cocos = max. 9%)[lower-alpha 4]
UBS 19% (CET1 = min. 10% and AT1/T2 cocos = max. 9%)[lower-alpha 4]
Zürcher Kantonalbank ??% (???)
Raiffeisen ??% (???)
PostFinance ??% (???)
  1. The additional D-SIB buffer of 1% CET1, as well as the new capital reservation buffer of 2.5% CET1, will both be required without any phase-in, meaning that both the CET1 requirement and the noted total capital ratio requirement will apply in full starting from 1 January 2016. The noted additional IRP, is an abbreviation of Individual Risk Premium (also known as the "Pillar 2 risk buffer"), and is subject for annual recalculation of the FSA - based on some updated individual risk assessments. In case needed, an additional counter-cyclical capital ratio buffer ranging from 0 to 2.5% CET1, can also be activated at the discretion of the Financial Supervisory Authority after its quarterly reassessment of the cyclical trends, starting from 1 January 2016.[42][43]
  2. The additional D-SIB buffer of 1% CET1 will be required starting from 1 January 2016, but the capital reservation buffer (equal to 2.5% CET1 in 2019) will be phased-in over four years, meaning the minimum CET1 capital requirement will be 6.125% in 2016, then 6.75% in 2017, then 7.375% in 2018 and finally 8% in 2019. In case needed, an additional counter-cyclical capital ratio buffer ranging from 0-2.5% CET1, can also be activated at the discretion of the Financial Supervisory Authority after its quarterly reassessment of the cyclical trends. In addition to the CET1-requirement an amount of max. 3.5% AT1/T2 will be required in pillar 1 – so that the total capital buffer is min. 11.5% + IRP in 2019. IRP is an abbreviation of Individual Risk Premium (also known as the "Pillar 2 risk buffer"), and is subject for annual recalculation of the FSA – based on some updated individual risk assessments.[44] Beside of the six entities being designated to be Canadian SIBs, the entity Desjardins Group has been designated as systemically important for the province of Quebec, and is required to comply with the same set of requirements as the ordinary D-SIBs.[45]
  3. The latest capital requirement can be obtained from HKMA web site, with an additional 2.5% CET1 requirement of capital conservation buffer as stated in Supervisory Policy Manual CA-B-2 Systemically Important Banks. There is also additional Countercyclical Capital Buffer (CCyB) CET1 requirement, which accounts for 2% CET1 as of 14 October 2019. For SIB, there is another 1–3.5% of higher loss absorbency (HLA) CET1 requirement. HKMA also have the authority to apply IRP (Individual Risk Premium, also known as the "Pillar 2 risk buffer") to each bank individually.
  4. On top of the noted total capital ratio, a temporary counter-cyclical capital ratio buffer of up till 2.5% (of the total risk-weighet assets) extra amount of CET1, can also be enforced. The Swiss authorities have – by effect since 30 September 2013 – demanded the banks to increase their CET1 amount with 1% extra of their risk-weighted residential mortgage loan positions.[47]

See also

References
  1. Moenninghoff, S.C., Ongena, S., Wieandt, A. "The Perennial Challenge to Abolish Too-Big-To-Fail in Banking: Empirical Evidence from the New International Regulation Dealing with Global Systemically Important Banks, pp. 10, 11, 28". SSRN 2440613. Missing or empty |url= (help)CS1 maint: multiple names: authors list (link)
  2. Financial Times. "Thirty groups on systemic risk list, Financial Times, November 30, 2009". Missing or empty |url= (help)
  3. Financial times. "G20 to press ahead with plans for two-tier bank risk rating, Financial Times, November 10, 2010". Missing or empty |url= (help)
  4. Financial Stability Board. "List of Systemically Important Financial Institutions" (PDF).
  5. Financial Stability Board. "Update of group of global systemically important banks (G-SIBs)" (PDF).
  6. "2013 update of group of global systemically important banks (G-SIBs)" (PDF). Financial Stability Board. 11 November 2013.
  7. "2014 update of group of global systemically important banks (G-SIBs)" (PDF). Financial Stability Board. 6 November 2014.
  8. "2015 update of group of global systemically important banks (G-SIBs)" (PDF). Financial Stability Board. 3 November 2015.
  9. "Resolution Plan at FDIC". Retrieved 31 January 2013.
  10. Resolution Plans. "Resolution Plans at FED". Federal Reserve. Retrieved 23 January 2013.
  11. "European Commission – MEMO/13/690: Capital Requirements – CRD IV/CRR – Frequently Asked Questions" (PDF). European Commission. 16 July 2013.
  12. "Ten key points from the FSB's TLAC ratio" (PDF). http://www.pwc.com/us/en/financial-services/regulatory-services/publications/2014-basel-iii-fsbs-tlac-proposal.jhtml. PwC Financial Services Regulatory Practice, November, 2014. External link in |website= (help)
  13. "TLAC: what you should know". Euromoney.
  14. List of bank stress tests#Americas
  15. Dalton, Matthew (10 October 2011). "France, Belgium Reach Pact on Ailing Dexia". The Wall Street Journal. Retrieved 2011-10-10.
  16. "EU clears Dexia's €90bn restructuring plan". The Telegraph & AFP. 28 December 2012.
  17. "Who is too big to fail? GAO's assessment of the financial stability oversight council and the office of financial research" (PDF). U.S. Government. 14 March 2013.
  18. "Comprehensive Capital Analysis and Review 2014: Assessment Framework and Results" (PDF). Federal Reserve. 26 March 2014.
  19. "Banking Information & Regulation: Resolution Plans". Federal Reserve. 2 October 2014.
  20. MetLife to Sell Bank Unit to GE Capital
  21. Puzzanghera, Jim (14 January 2013). "MetLife gets out of banking business, sells deposits to GE Capital". Los Angeles Times.
  22. "MetLife Bank to sell $70B mortgage servicing portfolio to JPMorgan Chase". CBS/AP.
  23. "Agreement between the Government (Socialdemokraterne, Radikale Venstre and Socialistisk Folkeparti) and Venstre, Dansk Folkeparti, Liberal Alliance and Det Konservative Folkeparti concerning the regulation of systematically important financial institutions (SIFIs), as well as requirements imposed on all banks and mortgage-credit institutions to have more capital and capital of a higher quality as well as higher liquidity". Danish Ministry of Business and Growth. 10 October 2013.
  24. "Financial Stability Report – June 2014" (PDF). Bank of England. 25 June 2014.
  25. "Consultation Paper: Guidelines on the criteria to determine the conditions of application of Article 131(3) of Directive 2013/36/EU (CRD) in relation to the assessment of Other Systemically Important Institutions (O-SIIs)" (PDF). European Banking Authority. 18 July 2014.
  26. "Her er Sifi-aftalen" (in Danish). FinansWatch. 10 October 2013.
  27. "Udpegning af systemisk vigtige finansielle institutter (SIFI)" (PDF) (in Danish). Finanstilsynet. 24 June 2014.
  28. "Banca D'Italia" (PDF).
  29. "Additional buffer requirement enhances resilience of Dutch systemic banks". De Nederlandsche Bank. 29 April 2014. Retrieved 28 April 2017.
  30. "Regulation and decision on systemically important financial institutions". Ministry of Finance (Norway). 12 May 2014.
  31. "Pengepolitisk rapport – med vurdering av finansiell stabilitet" (PDF) (in Norwegian). Norges Bank. September 2014.
  32. "Finansielle utviklingstrekk (November 2014)" (PDF) (in Norwegian). Finantilsynet (Financial Supervisory Authority of Norway). 4 November 2014.
  33. Banco de España updates the list of systemically important institutions and sets their capital buffers Banco de España 24 November 2017
  34. "Kapitalkrav för svenska banker (FI Dnr 14-6258)" (PDF) (in Swedish). Finans Inspektionen. 8 September 2014.
  35. "Förslag till föreskrifter om kontracykliskt buffertvärde (FI Dnr 14-7010)" (PDF) (in Swedish). Finans Inspektionen. 12 June 2014.
  36. "A framework for stress testing the UK banking system (A Discussion Paper)" (PDF). Bank of England. 30 September 2013.
  37. "EU ministers seek resolution on who pays if banks fail". Reuters. 24 June 2013.
  38. "Council agrees position on bank resolution (11228/13, PRESSE 270)" (PDF). Council of the EU. 27 June 2013.
  39. "Deal reached on bank 'bail-in directive'" (PDF) (Press release). European Parliament. 12 December 2013.
  40. "Procedure file – Document reference 2012/0150(COD) – Credit institutions and investment firms: framework for recovery and resolution". European Parliament - Legislative Observatory. 28 January 2014.
  41. "Interinstitutional File 2012/0150 (COD): Bank Recovery and Resolution [First reading] – Proposal for a Directive establishing a framework for the recovery and resolution of credit institutions and investment firms (BRRD) – final compromise text" (PDF). Council of the European Union. 18 December 2013.
  42. "Domestic systemically important banks in Australia – December 2013" (PDF). Australian Prudential Regulation Authority. 23 December 2013.
  43. "Round-up of regulatory capital requirements for Australian ADIs post-Basel III". Clayton Utz. 15 May 2014.
  44. "Domestic Systemic Importance and Capital Targets – DTIs". Office of the Superintendent of Financial Institutions. March 2013.
  45. "Assessing the Systemic Importance of Financial Institutions (Financial System Review: December 2013)" (PDF). Bank of Canada. 10 December 2013.
  46. HKMA. "Designation of Domestic Systemically Important Authorized Institutions (D-SIBs)" (PDF). Hong Kong Monetary Authority. Retrieved 28 December 2019.
  47. "Speech: A macroprudential progress report" (PDF). Swiss National Bank. 11 October 2013.
  48. "Determination of systemically important banks". Publications: Banking sector. Swiss National Bank. Retrieved 2 June 2018.
This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.