17 from Europe, 8 from the US and 4 from Asia are included on list that will require that the designated banks carry surcharges of capital (from 1 to 2.5%) in view of their perceived significance to the global economy and potential for contagion if they failed. The Financial Stability Board, (FSB), a regulatory arm of the G20, along with the Basel Committee on Banking Supervision has helped develop the list. (See below banks currently included in the effectively Too Big to Fail category). Most of the big banks on the list did not want the designation – they fear that the additional capital will make then less competitive and perhaps draw even greater scrutiny. Some see "Too Big to Fail"as analogous to a beauty queen that is too perfect to love. By size, the largest bank now in the world is the Bank of China. It has crept up the ladder almost unnoticed. However, the bank most cited on the list, or more accurately its Chief, is JP Morgan and Jamie Dimon respectively. Mr. Dimon has been cited as calling the new regulations/capital requirements anti-American. He had tried to have the new designations scrapped. It is unlikely though that the FSB will reverse itself having achieved G-20 support and with its former head Mario Draghi now taking over as the chief of the European Central Bank. (Mark Carney – Governor of the Bank of Canada will now take over as head of the FSB). There is significant continuity for the new “Too Big to Fail” methodology to be not only preserved but reinforced. Nonetheless, the list of banks and the methodology will be dynamic and subject to evolutionary change after this tectonic move in the globe’s financial eco-habitat. I would also not be surprised if a Financial Transaction Tax was adopted, for the sake of revenues but also to curb some of the current abuses/excesses in the financial markets – READ –“Why FINANCIAL TRANSACTION TAX?” (Backed by BILL GATES)-http://diplomaticallyincorrect.org/films/blog_post/why-financial-transaction-tax-money-flash-by-ambassador-mo/40599. LIST BELOW is of the Too Big to Fail or “Systemically Important Financial Institutions” (SIFIs) as they are officially defined by the FSB: Bank of America Corp. Bank of China Ltd. Bank of New York Mellon Corp. Groupe Banque Populaire Barclays Plc BNP Paribas SA Citigroup Inc. Commerzbank AG Credit Suisse Group AG Deutsche Bank AG Dexia SA Goldman Sachs Group Inc. Credit Agricole SA HSBC Holdings Plc ING Groep NV JPMorgan Chase & Co. Lloyds Banking Group Plc Mitsubishi UFJ Financial Group Inc. Mizuho Financial Group Inc. Morgan Stanley Nordea Bank AB Royal Bank of Scotland Group Plc Banco Santander SA Societe Generale SA State Street Corp Sumitomo Mitsui Financial Group Inc. UBS AG Unicredit SpA Wells Fargo & Co. By Ambassador Muhamed Sacirbey














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 “International Financial Crisis Channel” - diplomaticallyincorrect.org/c/international-financial-crisis