Bank of Nanjing Joins China’s List of ‘Too Big to Fail’ Banks

What’s new: China added Bank of Nanjing Co. (601009.SH) to a list of domestic systemically important banks Friday, making it subject to stricter regulatory requirements because its health is seen as critical to maintaining financial stability.

The “too big to fail” list of banks was first identified in 2020 and now includes 20 financial institutions, according to the latest version issued by the People’s Bank of China and the National Administration of Financial Regulation. The 20 banks are divided into four groups based on how important they are, with the fourth group consisting of the four largest state-owned banks being the most important.