International regulators have added Industrial and Commercial Bank of China to a list of banks that face higher capital requirements to counter the risk they pose to the financial system.
The biggest bank in the world by market capitalisation, ICBC was the sole new entrant on the latest table of “globally systemically important banks” from the Financial Stability Board.
The annual exercise – one of the reforms to emerge from the financial crisis – could determine the profitability of the world’s largest financial institutions for years to come.
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