The Securities and Futures Commission has launched a new «Key Risk Indicator» platform to collect and analyze data from various financial institutions including numerous so-called «too-big-to-fail» banks, which will require high levels of transparency from the list of lenders for better risk management.
22 global financial institutions considered «systematically important» are included in the list. Under the new KRI platform, the selected banks are required to complete a KRI survey about business operation data, including financial information, and all regulated activities regardless of where the associated risk positions are booked.
According to the SFC, the first submission should be made electronically on or before January 31, 2020. It will also refine and expand the scope of data collection and the banks on the KRI list, wherever it sees necessary.
The financial institutions included in the KRI list for monitoring include: Bank of America Merrill Lynch, Bank of New York Mellon, Barclays, BNP Paribas, Citigroup, Credit Agricole, Credit Suisse, Deutsche Bank, Goldman Sachs, HSBC, JP Morgan Chase, Mitsubishi UFJ FG, Mizuho FG, Morgan Stanley, Nomura, Royal Bank of Canada, Societe Generale, Standard Chartered, State Street, Sumitomo Mitsui FG, UBS and Wells Fargo.
