TBTF: Thirty companies deemed to be Too Big to Fail

Today’s Financial Times has the news article on a list drawn by the Financial Stability Board declaring 30 companies including 6 large insurance companies deemed to be Too Big To Fail.

It will be interesting to see how these companies will shape up over the coming 12 months.

Some interesting omissions are Lloyds Bank, no additional bank from Canada besides RBC. CALYON is not on the list as well. Even Rabo Bank of Netherlands, the only AAA bank in the world does not make the cut. The reason: It is only present in Netherlands, for the most part, and hence not interwined with the rest of the world.

Not a single bank from Asia which is because they are not as interconnected in the global financial system as their counterparts from US and Europe and more importantly are very well regulated and strongly capitalized.

Banks
US
Bank of America Merrill Lynch
Citigroup
Goldman Sachs
JPMorgan Chase
Morgan Stanley
Canada
Royal Bank of Canada
UK groups
Barclays
HSBC
Royal Bank of Scotland
Standard Chartered
Switzerland
Credit Suisse
UBS
France
BNP Paribas
Société Générale
Spain
BBVA
Santander
Japan
Mitsubishi UFJ
Mizuho
Nomura
Sumitomo Mitsui
Italy
Banca Intesa
UniCredit
Germany
Deutsche Bank
Netherlands
ING

Insurance groups
Aegon
Allianz
Aviva
Axa
Swiss Re
Zurich

Thirty financial groups on systemic risk list
By Patrick Jenkins and Paul J Davies in London

Published: November 29 2009 23:30 | Last updated: November 30 2009 08:17