China’s Bank of Communications Added to Global Too-Big-to-Fail Banks List

What’s new: China’s Bank of Communications Co. Ltd. has been added to the list of global systemically important banks by the Financial Stability Board (FSB), becoming the fifth Chinese state-owned banks on the “too-big-to-fail” list.

Bank of Communications joined Bank of China Ltd., Industrial and Commercial Bank of China Ltd. (ICBC), China Construction Bank Corp. and Agricultural Bank of China Ltd. on the global list of banks whose systemic risk is deemed to be of such importance that the banks' failure would trigger a wider financial crisis and threaten the global economy.