The Basel, Switzerland-based Financial Stability Board today updated its list of global systemically important banks subject to supplemental loss absorbency requirements. Among the eight U.S. banks on the list, Bank of America moved into a category requiring less loss absorbency.
Paris-based Groupe BPCE was added back to the list after dropping off in 2017, and Stockholm-based Nordea and Edinburgh-headquartered Royal Bank of Scotland were removed. GSIB designations are made using criteria issued by the Basel Committee on Banking Supervision. Read more.