The Financial Stability Board ("FSB") updated its list of global systemically important banks ("GSIBs") for 2018. Group BPCE has been added and Nordea and the Royal Bank of Scotland have been removed.

FSB stated that member authorities continue to apply the following requirements on GSIBs: (i) higher capital buffers; (ii) the Total Loss-Absorbing Capacity (TLAC) standard and regulatory capital requirements set out in the Basel III framework; (iii) resolution planning and regular resolvability assessments; and (iv) higher supervisory expectations including heightened supervisory expectations for risk management functions, risk data aggregation capabilities, risk governance and internal controls.

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