第一财经·2025-11-30 13:06Core Viewpoint - The 2025 Global Systemically Important Banks (G-SIBs) list has been released, with five Chinese banks maintaining their status. The Industrial and Commercial Bank of China (ICBC) has moved up to the third group, marking a significant achievement for Chinese financial institutions [3][5]. Group 1: G-SIBs List and Rankings - The latest G-SIBs list includes 29 institutions, consistent with 2024, but with changes in scores and groupings for some banks [5]. - ICBC has advanced from the second group to the third group, becoming the first Chinese bank in this category. Other Chinese banks, including Bank of China, Agricultural Bank of China, and China Construction Bank, remain in the second group, while Bank of Communications stays in the first group [5][6]. - The G-SIBs list is divided into five groups, with the highest group (fifth) having no institutions, and the fourth group containing only JPMorgan Chase [5]. Group 2: Scoring Changes and Influencing Factors - This year, the scoring changes for Chinese G-SIBs show two main characteristics: scale is no longer the primary driver for score increases, and exchange rate fluctuations have had a positive impact [6][7]. - For instance, ICBC and Bank of China saw significant score increases of 33 and 32 points, respectively, due to various contributing factors [6]. - Despite these changes, Chinese G-SIBs still outperform global peers in terms of scale and interconnectedness [6]. Group 3: TLAC Compliance and Issuance - Following the successful achievement of the first phase of Total Loss-Absorbing Capacity (TLAC) requirements, the pressure for compliance in the next phase remains a concern [10][11]. - The five major banks have issued over 300 billion yuan in TLAC non-capital bonds this year, with a cumulative issuance of 540 billion yuan [11][12]. - The TLAC non-capital bonds are crucial for meeting international G-SIBs requirements, and the regulatory capital remains the primary component of total loss-absorbing capacity [12]. Group 4: Future Compliance Outlook - Some banks are currently able to meet the next phase of TLAC requirements, while others may need government support to achieve compliance [13]. - The assessment indicates that if risk-weighted asset growth remains stable, all five major banks are expected to meet the upcoming TLAC requirements on schedule [13].