GLOBAL SYSTEMICALLY IMPORTANT BANKS

The following information was released by the Federal Reserve Board:

Banking organizations posing the greatest risk to U.S.'s economic and financial system are supervised by the Global Systemically Important Banks, or GSIB, program (previously called the Large Institution Supervision Coordination Committee (LISCC) program). GSIBs are the largest and most complex banking organizations headquartered in the U.S. As of February 2026, eight U.S. banking organizations were included in the GSIB supervisory program:

Bank of America Corporation

The Bank of New York Mellon Corporation

Citigroup Inc.

The Goldman Sachs Group, Inc.

JP Morgan Chase and Co.

Morgan Stanley

State Street Corporation

Wells Fargo and Company

GSIBs are subject to the highest requirements set forth in the Board's regulations. For example, given their complex activities, these banks are subject to the highest standards in Regulations YY and QQ covering capital, liquidity, resolution planning, risk management and internal controls, and stress-testing requirements.

The GSIB supervisory program focuses on soundness and resilience of each GSIB and on reducing the impact of its potential failure or its weaknesses on the financial system and the broader economy. Given the complexity of GSIBs activities, GSIBs receive frequent examinations and monitoring. The program prioritizes assessing material financial risks that could threaten a GSIB's safe and sound operation and the stability of the U.S. financial system. Examinations of multiple GSIBs at the same time may be conducted when the Board determine that the benefits to the safety and soundness of the GSIBs being reviewed or the stability of the U.S. financial system outweigh the associated costs to the GSIBs and the Federal Reserve System.

Given the complexity of GSIB organizational structures and the U.S. financial regulatory system, there may be multiple U.S. and foreign regulators conducting supervisory activities at a GSIB. As the consolidated banking organization supervisor, the Federal Reserve through the GSIB supervisory program regularly engages and relies to the fullest extent possible on the examinations by the primary state or federal banking regulatory agencies.