Global systemically important banks must fulfil their new requirements to ensure resilient world financial system

While the world kept a watchful eye on the results of the G20 summit in Cannes, France, with respect to the European crisis, it is important to note that the leaders of the G20 formally endorsed the list of 29 "global systemically important banks" (G-SIBs).

Recognizing the fact that neither low inflation and stable macroeconomic environments, nor micro-prudential supervision of individual institutions are enough to maintain financial stability, the 2009 London G20 summit launched the initiative of establishing a macro-prudential policy framework and accepted the concept of designating G-SIBs.