Canadian banks left off global too-big-to-fail list

The Financial Stability Board’s annual ranking of banks important to the financial system has left Canadian institutions off the list—a snub they can use to their advantage, reports the Financial Post.

Read: European leaders back tough reforms

RBC may be in a position to benefit in particular, as its competitors in global capital markets have been deemed too big to fail. Because of that designation, they are required to hold higher levels of capital.

This will create more opportunities for RBC to gain market share in the U.S. and Europe, reports FP.

Worldwide, 29 banks were identified as systemically important. This year the Financial Stability Board added the Industrial and Commercial Bank of China to the list.

Read more here.

Also read:

A look at China’s reform promises

Compliance roundup: November 2013

Staff

The staff of Advisor.ca have been covering news for financial advisors since 1998.