Top 100 survey emphasises role of regulation: editorial

Alexander Campbell

This year's Top 100 Banks list is striking for the picture it shows of the continuing rise of the Chinese economy – for the first time, a Chinese bank, Industrial and Commercial Bank of China (ICBC), is the largest in the world, beating JP Morgan and Bank of America in Tier I capital terms. But it also emphasises the weight that regulators and central banks carry – weight that they are not shy to throw around if necessary.

Case in point: the People's Bank of China. Last month, to the great surpr

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