The Financial Stability Board ("FSB") updated the list of global systemically important banks ("G-SIBs") for 2019 based on end of year data from 2018 and the assessment methodology of the Basel Committee on Banking Supervision ("BCBS").
According to FSB, the G-SIB list now includes The Toronto-Dominion Bank. As a result, the overall number of G-SIBs increased from 29 to 30.
FSB stated that member authorities apply several requirements to G-SIBs, including:
holding higher capital buffers according to their allocated buckets and international standards;
meeting the total loss-absorbing capacity (or "TLAC") standard, in addition to capital requirements outlined in the Basel III regulatory framework;
conducting resolution planning and frequent resolvability assessments; and
maintaining higher supervisory practices for (i) risk management functions, (ii) risk data aggregation capabilities, (iii) risk governance and (iv) internal controls.
The Financial Stability Board updated its list of global systemically important banks for 2018.