Four Banks in Asia Go List 'Important In Systemic Global Bank' ~ GREAT NEWS

Among the few commitments that came out of the G20 Summit in Cannes, the Financial Stability Board (FSB) has released a list of 29 "systemically important banks globally". The list was released on Friday (4 / 11) after the leaders of countries who are members of the G20 tries to find a solution to Europe's debt crisis, and improve the global financial system. There are four banks from Asia into the list.

The G20 leaders also agreed to new measures to reduce systemic risks posed by a bank or financial institution in the category "Global Financial Institutions systemically important" or G-Sify. G-Sify definition is:

Financial institutions whose distress or disorderly failure, because of their size, complexity and systemic interconnectedness, would cause significant disruption to the wider financial system and economic activity. To avoid this outcome, authorities have all too frequently had no choice but to forestall the failure of such institutions through public solvency support. As underscored by this crisis, this has deleterious consequences for private incentives and for public finances

Consequences of 29 banks, called G-Sify is the need to raise Tier 1 capital ratio above the Basel III mandate. Allotted time is up to the year 2016.

Among the 29 banks there are 8 banks the United States, 17 European banks and 4 banks from Asia, namely: Bank of China, Mitsubishi UFJ, Mizuho Financial Group and Sumitomo Mitsui Banking Corp.. Here's the full list as released by Forbes on Friday (4 / 11), by alphabetical: