Alexa
  • Directory of Taiwan

Regulator names banks subject to more oversight

Regulator names banks subject to more oversight

The international body charged with heading off risks to the global financial system on Friday listed 29 banks, including Bank of America, that will face stricter regulation and capital requirements under new measures adopted by world leaders meeting in Cannes.
The tighter regulation of such "too big to fail" banks is aimed at reducing their chances of going bust and limiting economic fallout if they do.
The list released by the Basel, Switzerland-based Financial Stability Board also includes Citigroup, Goldman Sachs, and other major banks from France, Britain, Germany, Switzerland, China, Japan and elsewhere.
Speaking in a news conference on the sidelines of the Group of 20 summit, Mario Draghi, the outgoing head of the FSB, welcomed the G-20 leaders' decision to sign off on the series of measures the FSB designed to strengthen banking oversight.
The FSB list of 29 banks, known as "SIFIs," includes those judged to be the most globally important to the financial system by their size and complexity.
"Full and consistent implementation of these policies will lower the probability and impact of SIFI failure, and address moral hazard risks by enabling financial institutions at the core of the global system to be resolved without disrupting the real economy and imposing costs on taxpayers," Draghi said.
___
http://www.financialstabilityboard.org/publications/r_111104bb.pdf


Updated : 2021-06-14 23:06 GMT+08:00