| CATEGORY: NEWS AND ANNOUNCEMENTS |
Thirty financial firms on systemic risk list, reports |
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Mon 30 Nov 2009
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LONDON (SHARECAST) - Thirty global financial institutions are said to have been selected for cross-border supervision by regulators, according to press reports.
The Financial Times reported on Monday that a number of major insurers are included in the list, such as Axa, Aegon, Allianz, Aviva, Zurich and Swiss Re, as well as 24 banks from the UK, continental Europe, North America and Japan.
The list has been compiled under the guidance of the Financial Stability Board (FSB) to pre-empt any risk to the global financial stability.
The companies on the list will be asked to start drawing up so-called ‘living wills’, the paper added.
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