Custodians could face higher Basel G-Sib surcharges

Data shows removal of cap on substitutability in revised methodology would hit four banks

Systemic risk hit: there is real alarm about the proposal to remove the cap

Global banks with large asset custodian businesses may face higher capital requirements if the Basel Committee’s systemic bank assessment methodology, currently under a routine review, is changed in an effort to reflect systemic risk more accurately.

BNY Mellon, Citigroup, JP Morgan and State Street would be the most affected if the cap on one of five categories in the methodology – ‘substitutability’ – is removed, say bank lobbyists and academics.

“It is very important to take seriously this

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