News

The list contains 24 banks and 6 insurance companies that are regarded by the Financial Stability Board as systemically important for the global financial system.



The financial institutions come from the USA, Canada, Britain, Switzerland, France, Spain, Japan, Italy, Germany and Netherlands.



The G20 decided that these companies would be supervised by cross-national colleges of supervisors. These bodies bring together national supervisors from the key countries in which a company operates.



The Financial Stability Board, in charge of the process, has still not made these names public that were listed in the Financial Times today.



UNI Finance’s Oliver Roethig said: “It is not acceptable that the Financial Stability Board makes a secret out of this very important matter. The supervision of the systemic important banks and insurance companies must be transparent.

“Secrecy and the cartel between supervisors and finance industry was a major reason for the financial crisis.



“For UNI Finance movement, proper supervision requires transparency and the full involvement of other stakeholders, including trade unions.”





France

• SOCIETE GENERALE
• BNP PARIBAS
• AXA (insurance)

Germany

• DEUTSCHE BANK
• ALLIANZ (insurance)

Great Britain

• HSBC
• BARCLAYS
• ROYAL BANK OF SCOTLAND
• STANDARD CHARTERED
• AVIVA (insurance)

Italy

• UNICREDIT
• BANCA INTESA

Netherlands

• ING
• AEGON (insurance)

Spain

• SANTANDER
• BBVA

Switzerland

• UBS
• CREDIT SUISSE
• ZURICH (insurance)
• SWISS RE (insurance)

Canada

• ROYAL BANK OF CANADA

USA

• GOLDMAN SACHS
• JPMORGAN
• CHASE
• MORGAN STANLEY
• BANK OF AMERICA MERRILL LYNCH
• CITIGROUP

Japan

• MIZUHO SUMITOMO MITSUI
• NOMURA
• MITSUBISHI UFJ