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Nov 21, 2017

Too big to fail: RBC joins ranks of world’s systemically important banks

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Royal Bank of Canada (RY.TO) has joined the ranks of global banks deemed too big to fail.

The Basel, Switzerland-based Financial Stability Board added RBC to its list of global systemically important banks on Tuesday.

As a result, RBC will be required to hold a one per cent additional capital buffer.

"This designation reflects the size and scale of RBC's global operations," the bank said in a press release, while adding it already meets the additional capital requirement.

A total of 30 banks are on the list, with RBC being the only addition since 2016.

The Toronto-based lender faces the same capital requirement as other major institutions including Morgan Stanley, UBS, and Royal Bank of Scotland.

JP Morgan Chase, meanwhile, has the highest additional capital buffer at 2.5 per cent. 

G-SIBs as of November 2017 allocated to buckets corresponding to required levels of additional capital buffers


Bucket G-SIBs in alphabetical order within each bucket






JP Morgan Chase 



 Bank of America


Deutsche Bank




Bank of China


BNP Paribas

China Construction Bank

Goldman Sachs

Industrial and Commercial Bank of China

Limited Mitsubishi UFJ FG

Wells Fargo 



 Agricultural Bank of China

Bank of New York Mellon

Credit Suisse

Groupe Crédit Agricole

ING Bank

Mizuho FG

Morgan Stanley


Royal Bank of Canada

Royal Bank of Scotland


Société Générale

Standard Chartered

State Street

Sumitomo Mitsui FG


Unicredit Group

Table from: Financial Stability Board