The Financial Stability Board ("FSB") updated its list of global systemically
important banks ("GSIBs") for 2018. Group BPCE has been
added and Nordea and the Royal Bank of Scotland have been
removed.
FSB stated that member authorities continue to apply the
following requirements on GSIBs: (i) higher capital buffers; (ii)
the Total Loss-Absorbing Capacity (TLAC) standard and regulatory
capital requirements set out in the Basel III framework; (iii)
resolution planning and regular resolvability assessments; and (iv)
higher supervisory expectations including heightened supervisory
expectations for risk management functions, risk data aggregation
capabilities, risk governance and internal controls.
