UniCredit Excluded from Global Systemically Important Banks List

UniCredit has been excluded from the list of global systemically important banks, with its place being taken by the Chinese Bank of Communications, as reported by the Financial Stability Board. This list includes banks that experts consider most important for the global economy and is updated annually. For 2023, it comprises 29 organizations, one fewer than the previous year. Additionally, following the acquisition of UBS, Credit Suisse has also been excluded from the list. Banks are divided into five groups depending on their compliance with additional capital requirements, with listed organizations required to meet heightened capital allocations. In 2023, the list was headed by JP Morgan Chase, which must also exceed minimum capital requirements by 2.5 percentage points.

You can find the report via this link.

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