Here's Your Official List of 29 'Too Big to Fail' Banks
As part of the new Basel III financial regulatory standards, certain banks deemed "systemically important" will be required to maintain higher core capital ratios, draw up plans for their own hypothetical unwinding, and keep a certain amount of highly liquid assets on hand lest another crunch come around. You can probably guess many of the banks that these rule-writers had in mind! But for good measure, the official list of 29 banks has been released.
Here, as determined by a G20 cabal known as the Financial Stability Board, are the members of the fancily titled-cased Globally Systemically Important Financial Institutions club. From the Atlantic:
Bank of America (US)
Bank of New York Mellon (US)
Citigroup (US)
Goldman Sachs (US)
J.P. Morgan (US)
Morgan Stanley (US)
State Street (US)
Wells Fargo (US)BNP Paribas SA (France)
Banque Populaire (France)
Crédit Agricole SA (France)
Société Générale SA (France)Barclays PLC (UK)
HSBC Holdings PLC (UK)
Lloyds Banking Group PLC (UK)
Royal Bank of Scotland PLC (UK)Mitsubishi UFJ FG (Japan)
Mizuho FG (Japan)
Sumitomo Mitsui FG (Japan)Commerzbank AG (Germany)
Deutsche Bank AG (Germany)UBS AG (Switzerland)
Credit Suisse AG (Switzerland)Dexia SA (Belgium)
Bank of China (China)
Unicredit Group SA (Italy)
ING Groep NV (Netherlands)
Banco Santander SA (Spain)
Nordea AB (Sweden)
Are we feeling any safer?
[Image via AP]