Publication alert: FSB/BCBS - 2021 list of G-SIBs
We communicate that the Financial Stability Board (FSB) has published the 2021 list of global systemically important banks (G-SIBs), and that the Basel Committee on Banking Supervision (BCBS) has published information on global systemically important banks.
1. Context
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). In that publication, the FSB identified an initial group of global systemically important banks (G-SIBs) which are updated annually. In addition, the BCBS published a revised version of its methodology, which is expected to be implemented by 2022.
In this context, the FSB has published the 2021 list of G-SIBs, using end-2020 data and the assessment methodology designed by the BCBS. In parallel with these publications, the BCBS has released additional information regarding the end-2020 G-SIB assessment.
2. Main points
FSB - 2021 list of G-SIBs
Compared with the list of G-SIBs published in 2020, the number of banks identified as G-SIBs remains 30:
- Three banks have moved to a higher bucket: JP Morgan Chase has moved from bucket 3 to bucket 4, BNP Paribas has moved from bucket 2 to bucket 3 and Goldman Sachs has moved from bucket 1 to bucket 2.
The FSB applies the following requirements to G-SIBs:
- Higher capital buffer requirements.
- The Total-Loss Absorbing Capacity (TLAC) requirements set out in the Basel III framework.
- Resolvability requirements, which include group-wide resolution planning and regular resolvability assessments.
- Higher supervisory expectations for risk management functions, risk data aggregation capabilities, risk governance and internal controls.
BCBS - Additional information
The BCBS has also published the following information regarding the assessment methodology used for the purpose of the list of G-SIBs:
- A list of the banks included in the assessment sample, and the links to the disclosures of those banks.
- The denominators of each of the 12 high-level indicators used to calculate the scores for sample banks.
- The 12 high-level indicators for each bank in the sample used to calculate these denominators.
- The cut-off score used to identify the G-SIBs in the updated list and the thresholds used to allocate G-SIBs to buckets for the purpose of calculating the specific higher loss-absorbency requirements.
3. Next steps
The FSB will update the list of G-SIBs again in November 2022.