All but one of the US global systemically important banks (G-Sibs) grew less risky in the second quarter.
JP Morgan, the largest G-Sib, cut its systemic risk score as calculated by the Federal Reserve to 728 from 737 in three months to end-June, moving it out of the 4% capital surcharge bucket and into the 3.5% bucket, which applies to firms with scores of between 630 and 729.
Morgan Stanley posted the biggest score drop, with a fall to 590 from 603, but remains in the 3% bucket. Goldman
- Regulators to scrutinise CCP default auctions
- People moves: Bank of America names new Apac chiefs, Wilkinson leaves LGIM, Lloyds loses Coutte, and more
- VAR surges, revenues tank at French banks hurt by volatility
- A rush on Libor fallbacks to head off holdouts
- Swaps data: SOFR volume and margin insights