UniCredit and Credit Suisse are removed from the list of systemic banks

The Financial Stability Board (FSB) published this Monday its annual list of systemic banks in the world, which this time includes UniCredit, the only Italian entity that appeared until now, and the ill-fated Credit Suissewhile the Chinese Bank of Communications enters.

With these changes, systemic banks go from 30 in 2022 to 29 in this edition, indicated the international organization, which began developing this classification after the 2008 financial crisis.

The list orders banks into five levels (“buckets”) depending on their size (taking into account the security funds or “buffers” that national authorities demand of them to guarantee their stability), and three entities in the 2023 edition rise level (from lowest to fourth).

One of them is UBS, whose size has increased considerably precisely because of its troubled acquisition of Credit Suisse, while the other two “promoted” are the Agricultural Bank of China and China Construction Bank.

The highest level orbucket” on the list does not include any bank, while in second place JP Morgan Chase remains alone, and in third place are Bank of America, Citigroup and HSBC.

The Spanish Santander is in the lowest position (“bucket 1”, along with others such as Crédit Agricole, ING, Morgan Stanley, Sociéte Générale or Standard Chartered.