LONDON, Nov 3 (Reuters) - The Financial Stability Board, which coordinates financial regulation worldwide, said it had added China Construction Bank to its list of global, systemically important banks who must hold extra capital due to their significance.
The FSB said on Tuesday it had removed Spain’s BBVA from its list of about 30 top global banks, known as “G-SIBs”. The FSB updates the list annually, to reflect the size, interconnectedness and complexity of major banks.
The FSB reduced the capital surcharge imposed on Britain’s Royal Bank of Scotland to 1 percentage point, from 1.5 percent last year. China Construction Bank is also in the bottom “bucket” requiring it to hold 1 percentage point extra capital. It did not make any other changes to the list.
HSBC and JPMorgan remain the only two banks in the upper “bucket”, requiring them to hold an extra 2.5 percentage points of capital. (Reporting by Steve Slater; Editing by Matt Scuffham)