PwC's Managing upstream risk: Regulatory reform review - An asian perspective November 2013 | Page 15

2.8 Globally Systemically Important

Banks
Update

The FSB and the BCBS have updated the list of
G-SIBs, using end-2012 data and an updated
assessment methodology published by the
BCBS in July 2013. One bank has been added
to the list of banking groups identified as
G-SIBs in 2012, increasing the overall number
from 28 to 29. The table below shoes the list
of G-SIBs as of November 2013 allocated to
buckets corresponding to the required level of
additional loss absorbency.
Bucket

G-SIFI requirement

3
(2.0%)

2
(1.5%)

Bank of America
Credit Suisse
Goldman Sachs
Group Crédit Agricole
Mitsubishi UFJ FG
Morgan Stanley
Royal Bank of Scotland
UBS

1
(1.0%)

Bank of China
Bank of New York Mellon
BBVA
Groupe BPCE
Industrial and Commercial Bank of China
Limited
ING Bank
Mizuho FG
Nordea
Santander
Société Générale
Standard Chartered
State Street
Sumitomo Mitsui FG
Unicredit Group
Wells Fargo

Banking

18

Development of operational
resolution plan

18

Conduct of resolvability
assessment by CMG and
resolvability assessment
process

12

Agreement of institution
specific cross-border
cooperation agreement

Barclays
BNP Paribas
Citigroup
Deutsche Bank

12

Development of a resolution
strategy and review within
CMG

HSBC
JP Morgan Chase

6

Development of recovery
plan

(Empty)

4
(2.5%)

Deadline for completion
following date of G-SIFI
designation (months)

Establishment of Crisis
Management Group (CMG)

G-SIBs in alphabetical order within each
bucket

5
(3.5%)

The timetable for implementation of resolution
planning requirements for newly designated
G-SIFIs is:

24

BCBS on 11 November 2013 published in
conjunction with the FSB’s updated list of
G-SIBs additional information regarding the
G-SIB methodology. In accordance with the
timeline set out in its updated methodology
for assessing and identifying G-SIBs, the Basel
Committee has published:
(1) The denominators that were used to
calculate the scores of banks in the end-2012
exercise; and
(2) The cut-off score and bucket thresholds that
were used to identify the updated list of
G-SIBs and to allocate them to buckets.

The information published will enable banks
that participated in the G-SIB exercise to
calculate their end-2012 scores and see
their positions within the buckets that, in
future exercises, will determine their HLA
requirement. The HLA requirements start to
come into effect on 1 January 2016, based on
end-2013 data.

| Regulatory Reform Review

15