The Financial Stability Board (FSB) and the Basel Committee on Banking Supervision (BCBS) have updated the list of global systemically important banks (G-SIBs), using end-2014 data and the assessment methodology published by the BCBS in July 2013. One bank, China Construction Bank, has been added to the list of G-SIBs that were identified in 2014, and one bank, BBVA, has been removed from the list. The total number of G-SIBs therefore remains 30. The changes in the institutions included in the list and in their allocation across buckets reflect the combined effects of data quality improvements, changes in underlying activity and the use of supervisory judgement. The higher loss absorbency requirements begin to be phased in from 1 January 2016 (with full implementation by 1 January 2019). The assignment of the G-SIBs to the buckets in the updated list determines the higher loss absorbency requirement that will apply to them from 1 January 2017. G-SIBs will also be subject to a global standard for Total Loss-Absorbing Capacity (TLAC) to address the risk of tax-payer funded bail-outs.