Charles Schwab and Northern Trust's exposure to funding runs, as measured by the Federal Reserve's systemic risk metric, exceeds that of most of the US global systemically important banks (G-Sibs).

The Fed's Method 2 calculation for setting systemic risk buffers includes a short-term wholesale funding score that reflects banks' liquidity risk. This component makes up a third of the average aggregate Method 2 scores for the eight current US G-Sibs.

Though they are not G-Sibs themselves, Charles