Reuters: Regulatory News: FSB to name 29 banks on too-big-to-fail list - Russia

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FSB to name 29 banks on too-big-to-fail list - Russia Nov 8th 2013, 13:54 MOSCOW Fri Nov 8, 2013 8:54am EST MOSCOW Nov 8 (Reuters) - The Financial Stability Board, a global regulatory body, will name 29 banks that are "too big to fail" in a final list due to be published next week, Russia's top international finance official said on Friday. "Among the 29 banks, there will be Chinese institutions," Deputy Finance Minister Sergei Storchak said, referring to large banks that will have to hold more capital than smaller local rivals from 2016 to guard against financial instability. Storchak was speaking at a news conference in Moscow during a visit by FSB Secretary General Svein Andresen. The FSB coordinates global financial regulation for the Group of 20 leading economies.

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