The French banking group Crédit Agricole CAGR.PA has moved up the list of globally systemically important banks published by the Financial Stability Board (FSB), the Basel-based body said in a press release on Tuesday.
Since 2023, Crédit Agricole has moved from the lowest level on the list, Level 1, to Level 2, the FSB said. The list includes five tiers, with no banks appearing in the highest tier 5.
At the same time, the American bank Bank of America
BAC.NB moved from level 3 to level 2, the FSB said, with Citigroup CN and HSBC HSBA.L now the only occupants of group 3.
At the level of French groups, BNP Paribas BNPP.PA is still at level 2 while BCPE group and Société Générale SOCGN.PA are at level 1.
The list of global systemically important banks remains at 29, with JPMorgan still at the top of the list, alone in scale 4.
“Changes in the distribution of institutions between tranches largely reflect the effects of changes in the underlying activity of banks, with the complexity category being the main contributor to the rating changes,” explains the FSB in the press release .
The additional capital requirement linked to the category increase must come into force from January 1, 2026, specifies the FSB.
(written by Dave Graham and Bertrand De Meyer, edited by Blandine Hénault)
Belgium
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