At the Cannes Summit in November 2011, the G20 Leaders endorsed the Financial Stability Board (FSB)’s policy framework on systemically important financial institutions (G-SIFIs); at that time, the FSB was asked to deliver, in consultation with the BCBS, a progress report  on the definition of the modalities to extend expeditiously the G-SIFI framework to domestically important banks. The framework being considered for D-SIBs is best understood as taking the complementary perspective, namely that of assessing the impact of the failure associated with the local presence of a bank in a given jurisdiction, whether a national or an internationally active bank. The Basel Committee and the FSB are considering a minimum framework for domestic systemically important banks (D-SIBs), based on a set of principles, covering both the methodology for assessing the systemic importance of domestic institutions and the policy tools that national authorities could apply to contain the systemic risks they pose. The framework is based on assessment by local authorities, who are best placed to identify which banks are systemic within their borders.