3 ms·
Sorry for the naive question, but what actually happened? WSJ is reporting that the big change is the increase from $50B to $250B for the definition of "large b
by asah 8y ago
Sorry for the naive question, but what actually happened? WSJ is reporting that the big change is the increase from $50B to $250B for the definition of "large bank" subject to automatic "too big to fail" regulations.
Here's the list of ~30 banks affected according to wikipedia as of ~Jan 1, 2018:
rank, name, location, marketcap
13 Charles Schwab Corporation San Francisco, California $243B
14 State Street Corporation Boston, Massachusetts $238
15 BB&T Winston-Salem, North Carolina $221
16 SunTrust Banks Atlanta, Georgia $205
17 American Express New York, New York $181
18 Ally Financial Detroit, Michigan $167
19 Barclays New York, New York $157
20 USAA San Antonio, Texas $155
21 MUFG Union Bank New York, New York $154
22 Citizens Financial Group Providence, Rhode Island $151
23 Deutsche Bank New York, New York $148
24 Fifth Third Bank Cincinnati, Ohio $142
25 Royal Bank of Canada New York, New York $141
26 Credit Suisse New York, New York $141
27 UBS New York, New York $140
28 BNP Paribas New York, New York $139
29 Northern Trust Chicago, Illinois $138
30 KeyCorp Cleveland, Ohio $137
31 BMO Harris Bank Chicago, Illinois $131
32 Santander Bank Boston, Massachusetts $128
33 Regions Financial Corporation Birmingham, Alabama $124
34 M&T Bank Buffalo, New York $118
35 Huntington Bancshares Columbus, Ohio $104
36 Discover Financial Riverwoods, Illinois $100
37 Synchrony Financial Stamford, Connecticut $95
38 First Republic Bank San Francisco, California $87
39 BBVA Compass Birmingham, Alabama $87
40 Comerica Dallas, Texas $71
41 Zions Bancorporation Salt Lake City, Utah $66
42 E-Trade New York, New York $63
43 Silicon Valley Bank Santa Clara, California $51
What else is there? (besides partisan histrionics)
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- gehwartzen 8y agoWill be interesting to see what with some of these banks as they grow and start approaching the new $250B cliff. I suspect a lot of creative accounting and a glut of banks at the $249B level in a few years.