Global Systemically Important Financial Institutions (G-SIFIs)
The FSB, in consultation with the Basel Committee on Banking Supervision (BCBS) and national authorities, has identified global systemically important banks (G-SIBs) since 2011. The list of G-SIBs is divided into ‘buckets’ corresponding to required level of additional loss absorbency. The list of G-SIBs is updated annually each November, together with information on the application of policy measures to G-SIBs under the integrated set of policy measures to address the systemic and moral hazard risks associated with systemically important financial institutions published by the FSB in 2011.
BCBS publishes the methodology for assessing and identifying G-SIBs.
The FSB began identifying global systemically important insurers (G-SIIs), in consultation with the International Association of Insurance Supervisors (IAIS) and national authorities, in 2013. In November 2019, in light of the finalised holistic framework, the FSB, in consultation with the IAIS and national authorities, suspended G-SII identification as from the beginning of 2020. Based on the initial years of implementation of the holistic framework, In November 2022, the FSB announced that it would discontinue the identification of G-SIIs. Going forward, the FSB will base its considerations of systemic risk in the insurance sector on the IAIS Holistic Framework.
The FSB will continue to receive from the IAIS an annual update of the outcomes of its Global Monitoring Exercise. From 2023 onwards, the FSB will publish in its Annual Resolution Report a list of insurers that – according to member authorities’ assessment and self-reporting – are subject to resolution planning and resolvability assessments consistent with the FSB Key Attributes of Effective Resolution Regimes for Financial Institutions (KAs).
Links to G-SIB and G-SII communications are set out on the left below. Alternatively use the query function on the right to generate G-SIB lists.