FSB Updates "Too Big to Fail" Bank Rankings: BAC Downgraded, CRARF Upgraded

Nov 28, 2024

The Financial Stability Board (FSB), responsible for monitoring the global financial system, has updated its list of "too big to fail" banks. Bank of America (BAC, Financial) has been downgraded to a lower tier, while Crédit Agricole (CRARF) has been upgraded to a higher tier. These changes are based on the additional capital buffers required for 29 global systemically important banks (GSIBs).

The adjustments reflect the impact of changes in banks' core activities, with the complexity category being the largest contributor to score changes. If a bank's tier increases, the higher loss-absorbing capacity requirements will take effect from January 1, 2026.

Following BAC's move to the second tier, only Citigroup (C) and HSBC (HSBC) remain in the third tier. JPMorgan Chase (JPM) continues to lead the fourth tier, while the highest fifth tier remains vacant.

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I/We may personally own shares in some of the companies mentioned above. However, those positions are not material to either the company or to my/our portfolios.

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