November 30, 2009 / 2:17 AM / in 9 years

Regulators list systemic risk institutions: report

LONDON (Reuters) - Thirty global financial institutions have been selected for cross-border supervision exercises by regulators, the Financial Times reported on Monday.

A trader works in the J.P. Morgan stall on floor of the New York Stock Exchange, September 14, 2009. REUTERS/Brendan McDermid

Compiled under the guidance of the Financial Stability Board (FSB), an international body of regulators and central bankers, the list is part of an effort to pre-empt the spread of systemic risks in the event of a future financial crisis.

Those featuring in the list will also be asked to write so-called “living wills” that outline plans to wind up banks in the aftermath of a crisis.

The FSB was established in the summer of 2009 to address the dangers posed by systemically-important, cross-border financial institutions through better supervision and co-ordination.

The list in full, as cited by the FT:

North American banks:

Goldman Sachs (GS.N), JP Morgan Chase (JPM.N), Morgan Stanley (MS.N), Bank of America-Merrill Lynch (BAC.N), Royal Bank of Canada (RY.TO)

UK banks:

HSBC (HSBA.L), Barclays (BARC.L), Royal Bank of Scotland (RBS.L), Standard Chartered (STAN.L)

European banks:

UBS UBSN.VX, Credit Suisse CSGN.VX, Societe General (SOGN.PA), BNP Paribas (BNPP.PA), Santander (SAN.MC), BBVA (BBVA.MC), Unicredit (CRDI.MI), Banca Intesa, Deutsche Bank (DBKGn.DE), ING ING.AS

Japanese banks:

Mizuho (8411.T), Sumitomo Mitsui (8316.T), Nomura (8604.T), Mitsubishi UFJ (8306.T)

Insurers:

AXA AXA.PA, Aegon (AEGN.AS), Allianz (ALVG.DE), Aviva AV.l, Zurich ZURN.VX and Swiss Re RUKN.VX

Reporting by William James; Editing by Diane Craft

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