|
SRC sponsored analysis examining the complexity of the 29 institutions that were designated as G-SIBs by the FSB in Nov 2013
Research paper sponsored by the US Systemic Risk Council (SRC) examining the complexity of the 29 institutions that have been designated as Global Systemically Important Banks (G-SIBs) by the Financial Stability Board (FSB) in November 2013. Finds that in 2013 the G-SIBs had: i) an average of $1.587 trillion in assets; ii) an average of 1,002 majority-owned subsidiaries, with nearly half the subsidiaries classified as non-financial; iii) 60% of subsidiaries located outside the headquarters country; iv) at least one subsidiary in 44 different countries; and v) 12% of subsidiaries located in off-shore centers. Includes recommendations to regulators and banks including: i) use of consistent definitions and terminology in bank disclosures of organizational structure, including such key terms as “material entity;” better public disclosure of information on organizational structure; disclosure of key elements of living wills to enable the market to better evaluate their credibility; reconsideration of tax and regulatory policies with an emphasis on how they impact organizational complexity and impede orderly resolution.
Publisher:
Others
Release date:
Jul 2014
Type:
Consultative, discussion and issues paper
Topics:
Recovery and resolution, Systemically important financial institutions (SIFIs), Systemic risk, Transparency and disclosure
Sectors:
Banking
|
