Financial Stability Board Publishes Updated List of Global Systemically Important Insurers and Global Systemically Important Banks
- Financial Stability Board (“FSB”) publishes updated list of global systemically important insurers (“G-SIIs”) and global systemically important banks (“G-SIBs”).
- Assicurazioni Generali Spa - no longer a designated G-SII; Aegon N.V. - new entrant to G-SII designation.
- Banco Bilbao Vizcaya Argentaria, S.A. - no longer a designated G-SIB; China Construction Bank Corporation- a new entrant to G-SIB designation.
- The International Association of Insurance Supervisors (“IAIS”) is expected to publish two new consultations on G-SII methodology later this month.
- Global standard expected to be announced this month for total loss absorbing capacity (“TLAC”) for G-SIBs.