Monday, November 30, 2009

Prepares a list of 30 financial giants, who must make a will.

Council for financial stability (FSB), created the "big twenty" (G20) in the fight against the crisis, together with national regulators established a list of 30 major financial groups exposed to systemic risk. As the Financial Times citing well-informed persons in the list included 6 insurance companies (Axa, Aegon, Allianz, Aviva, Zurich and Swiss Re) and 24 banks from the UK, Europe, North America and Japan. The list was formed to monitor systemic risk, coordination and oversight in the case of new financial crises. These listed companies, as planned FSB, write the so-called last will (living will, a special kind of testament): their views about the liquidation in the event of another crisis. According to the publication, in the number of systemically important banks included: North America - Goldman Sachs, JP Morgan Chase, Morgan Stanley, Bank of America-Merrill Lynch, Royal Bank of Canada; United Kingdom - HSBC, Barclays, Royal Bank of Scotland, Standard Chartered; Europe - UBS, Credit Suisse, Societe General, BNP Paribas, Santander, BBVA, Unicredit, Banca Intesa, Deutsche Bank, ING; Japan - Mizuho, Sumitomo Mitsui, Nomura, mitsubishi UFJ.

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