Here Are the World's 29 'Too Big to Fail' Banks

Big banks beware: the G20 knows who you are. Today, its enforcement agency for financial stability released its official list of systemically important financial institutions. It includes 29 banks -- 17 based in Europe, eight based in the U.S., and four based in Asia. The full list is included below.

Being on the list could be a blessing or a curse -- depending on how you look at it. It sure won't feel good initially. These banks will be required to satisfy higher capital requirements than smaller banks. Each will also be forced to submit a plan for how it could be safely wound down should it fail.

But the good news for these institutions is that they are more likely to be bailed out. No wind-down plan can be full-proof. So should things go badly, a rescue may be unavoidable. Moreover, if a financial crisis sends several of these banks to the brink of collapse simultaneously, then bailouts would also likely follow.

Ultimately, whether or not these firms will be forced to fail will depend on if their failure can occur while avoiding a greater financial catastrophe and if politicians choose to be principled instead of practical.

Here's the full list, via the WSJ:

  • Bank of America (US)
  • Bank of New York Mellon (US)
  • Citigroup (US)
  • Goldman Sachs (US)
  • J.P. Morgan (US)
  • Morgan Stanley (US)
  • State Street (US)
  • Wells Fargo (US)
  • BNP Paribas SA (France)
  • Banque Populaire (France)
  • Crédit Agricole SA (France)
  • Société Générale SA (France)
  • Barclays PLC (UK)
  • HSBC Holdings PLC (UK)
  • Lloyds Banking Group PLC (UK)
  • Royal Bank of Scotland PLC (UK)
  • Mitsubishi UFJ FG (Japan)
  • Mizuho FG (Japan)
  • Sumitomo Mitsui FG (Japan)
  • Commerzbank AG (Germany)
  • Deutsche Bank AG (Germany)
  • UBS AG (Switzerland)
  • Credit Suisse AG (Switzerland)
  • Dexia SA (Belgium)
  • Bank of China (China)
  • Unicredit Group SA (Italy)
  • ING Groep NV (Netherlands)
  • Banco Santander SA (Spain)
  • Nordea AB (Sweden)
Presented by

Daniel Indiviglio was an associate editor at The Atlantic from 2009 through 2011. He is now the Washington, D.C.-based columnist for Reuters Breakingviews. He is also a 2011 Robert Novak Journalism Fellow through the Phillips Foundation. More

Indiviglio has also written for Forbes. Prior to becoming a journalist, he spent several years working as an investment banker and a consultant.

A New York City Minute, Frozen in Time

This wildly inventive short film takes you on a whirling, spinning tour of the Big Apple

Join the Discussion

After you comment, click Post. If you’re not already logged in you will be asked to log in or register with Disqus.

Please note that The Atlantic's account system is separate from our commenting system. To log in or register with The Atlantic, use the Sign In button at the top of every page.

blog comments powered by Disqus

Video

A New York City Minute, Frozen in Time

This short film takes you on a whirling tour of the Big Apple

Video

What Happened to the Milky Way?

Light pollution has taken away our ability to see the stars. Can we save the night sky?

Video

The Faces of #BlackLivesMatter

Scenes from a recent protest in New York City

Video

Ruth Bader Ginsburg on Life

The Supreme Court justice talks gender equality and marriage.

Video

The Pentagon's $1.5 Trillion Mistake

The F-35 fighter jet was supposed to do everything. Instead, it can barely do anything.

More in Business

Just In