ARTICLE
26 November 2018

FSB Updates List Of GSIBs

CW
Cadwalader, Wickersham & Taft LLP

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Cadwalader, established in 1792, serves a diverse client base, including many of the world's leading financial institutions, funds and corporations. With offices in the United States and Europe, Cadwalader offers legal representation in antitrust, banking, corporate finance, corporate governance, executive compensation, financial restructuring, intellectual property, litigation, mergers and acquisitions, private equity, private wealth, real estate, regulation, securitization, structured finance, tax and white collar defense.
The Financial Stability Board ("FSB") updated its list of global systemically important banks ("GSIBs") for 2018.
United States Finance and Banking

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.

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