FSB publishes 2023 G-SIB list

FSB has published the 2023 list of globally systemically important banks (G-SIBs) using end-2022 data and applying the assessment methodology designed by the Basel Committee on Banking Supervision (BCBS). Compared to the 2022 list, Bank of Communications (BoCom) has been added to the list and Credit Suisse and UniCredit have been removed. The total number of G-SIBS is now 29, compared to 30 in 2022.

FSB member authorities apply the following requirements to G-SIBs:

  • Since November 2012, the G-SIBs have been allocated to buckets corresponding to higher capital buffers that they are required to hold by national authorities in accordance with higher capital buffers;
  • G-SIBs must meet the Total Loss-Absorbing Capacity (TLAC) standard, alongside the regulatory capital requirements set out in the Basel III framework;
  • Group-wide resolution planning and regular resolvability assessments;
  • Supervisory expectations for risk management functions, risk data aggregation capabilities, risk governance and internal controls.

Alongside this, BCBS has published additional details relating to their scoring methodology. This includes information on the denominators of high-level indicators used to calculate banks’ scores, the high-level indicators for each bank in the sample used to calculate these denominators, the cut-off scores used to identify the G-SIBs and the thresholds used to allocate them buckets for the purpose of calculating the higher loss-absorbency requirements.

Vida Fatemi