How important is globally systemically important?
David Millar, former COO of PRMIA, feels that the creation of G-SIFIs will have a greater impact than just extra capital buffer and new reporting requirements.
December 13, 2011 | David MillarIn early November, as tasked by the G-20, the Financial Stability Board (FSB), the international organisation of central banks, regulators and supervisors, released its long-awaited “Policy Measures to Address Systemically Important Financial Institutions” regarding its definition of globally systemically important financial institutions (G-SIFIs).
Table 1. List of G-SIFIs (as of November 2011)
| Bank of America | JP Morgan Chase | ||
| Bank of China | Lloyds Banking Group | ||
| Bank of New York Mellon | Mitsubishi UFJ FG | ||
| BPCE | Mizuho FG | ||
| Barclays | Morgan Stanley | ||
| BNP Paribas | Nordea | ||
| Citigroup | Royal Bank of Scotland | ||
| Commerzbank | Santander | ||
| Credit Suisse | Société Générale | ||
| Deutsche Bank |
Categories: Capital & Strategic Issues, Regulation, Risk and RegulationKeywords:G-SIFI, FSB, BCBS, Cross Jurisdictional Activity, Interconnectedness, Substitutability, Bank Of China, Systemic Risk
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