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Global Regulators to Update Too-Big-to-Fail Bank List Next Month

Global regulators revised a list of too-big-to-fail banks earmarked for capital surcharges as part of an effort to reflect market conditions.

The Financial Stability Board will publish the updated list next month, Chairman Mark Carney told reporters following a meeting in Tokyo that concluded today.

The FSB last year compiled a list of 29 so-called globally systemic banks that should hold more capital than required by other international agreements. Citigroup Inc., JPMorgan Chase & Co., BNP Paribas SA, Royal Bank of Scotland Group Plc, and HSBC Holdings Plc were provisionally earmarked to face the top level of surcharges, set at 2.5 percent of risk-weighted assets.

One bank almost certain to drop off the updated list is Dexia SA, the Franco-Belgian lender that is being broken up after losing access to unsecured funding, Karel Lannoo, chief executive officer of the Centre for European Policy Studies in Brussels, said last week.

Carney, who is also governor of the Bank of Canada, said that banks have made progress in bolstering their capital levels, a benchmark of their resilience against insolvency.

The revised list will be based on data from the end of 2011, the FSB said in a statement. It will continue to be updated annually, it said.

The FSB brings together government officials, regulators and central bankers from the Group of 20 nations to coordinate financial rule-making.

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