The Financial Stability Board (FSB) has released the 2024 list of global systemically important banks (G-SIBs), with no changes in the number of institutions included. The total remains at 29, consistent with the previous year. However, two banks have shifted categories within the list: Groupe Crédit Agricole moved to a higher bucket, implying increased capital requirements, while Bank of America shifted to a lower bucket, indicating reduced capital requirements.
This assessment uses data from the end of 2023 and follows a methodology designed by the Basel Committee on Banking Supervision (BCBS). The G-SIBs are subject to several requirements:
- Higher capital buffer: These banks must hold additional capital buffers as mandated by national authorities according to international standards. These new buffer requirements will be effective starting January 1, 2026.
- Total Loss-Absorbing Capacity (TLAC): G-SIBs must comply with TLAC standards alongside Basel III regulatory capital requirements.
- Resolvability: Includes group-wide resolution planning and regular resolvability assessments reviewed through the FSB Resolvability Assessment Process by senior regulators within firms' Crisis Management Groups.
- Higher supervisory expectations: Encompasses risk management functions, risk data aggregation capabilities, risk governance, and internal controls.
The BCBS has also published related material for identifying G-SIBs. This includes updated denominators for calculating bank scores and thresholds for bucket allocation. It provides values for thirteen high-level indicators used in scoring exercises and links to public disclosures from all assessed banks. An interactive G-SIB dashboard has been updated accordingly.
A new list is scheduled for release in November 2025.
Notes explain that these G-SIB requirements exceed minimum standards applied to all internationally active banks under the Basel Framework. Banks are categorized into buckets based on systemic importance; higher buckets require greater additional capital.
The FSB coordinates global financial stability efforts among national financial authorities and international standard-setting bodies. It comprises members from 24 countries and various international financial institutions. The FSB's work extends globally through six Regional Consultative Groups.
Klaas Knot chairs the FSB; its Secretariat is based in Basel, Switzerland, hosted by the Bank for International Settlements.