The Financial Stability Board G20 after the summit of «Group of Twenty», which was held in Cannes (France) last week, published a list of 29 systemically important banks. Most of these banks are registered in the U.S. (eight). This is Bank of America, Bank of New York Mellon, Citigroup, Goldman Sachs, JP Morgan, Morgan Stanley, State Street and Wells Fargo.
The others most important banks for the global economy are in the UK (four) and France (four). The British banks which have been refereed to are Royal Bank of Scotland, Lloyds Banking Group, Barclays and HSBC, and the French — Banque Populaire, Credit Agricole, BNP Paribas and Societe Generale. In Japan, the main offices are located of three systemically important banks — Mitsubishi UFJ, Mizuho and Sumitomo Mitsui, Germany and Switzerland — two, respectively, Deutsche Bank, Commerzbank ,UBS and Credit Suisse.
With One representative in the list of important banks was Italy (Unicredit Group), Spain (Banco Santander), Sweden (Nordea), Netherlands (ING Groep), Belgium (Dexia) and China (Bank of China).
One of these financial institutions — the Belgian Dexia — now in a difficult position. Shares of the Franco-Belgian bank Dexia during trading last Tuesday collapsed by 37%. Decline in the value of the securities of the bank was due to the debt crisis in Europe. The Governments of France and Belgium pledged to help to the bank Dexia.
By Irina Lelina for Areti Charidemou & Associates LLC