The People’s Bank of China (PBOC) and the National Administration of Financial Regulation released the list of 20 domestic systemically important banks for the year of 2023, of which six are state-owned commercial banks, 9 are joint-stock commercial banks and 5 are city commercial banks.
The banks are divided into five groups based on importance from low to high. The first group, carrying the lowest importance among the five groups, include China Everbright Bank, Minsheng Bank, Ping An Bank, Huaxia Bank, Bank of Ningbo, Bank of Jiangsu, China Guangfa Bank, Bank of Shanghai, Bank of Nanjing, and Bank of Beijing.
The second group include Citic Bank, Pudong Development Bank and Postal Savings Bank of China and the third group includes Bank of Communications, China Merchants Bank, Industrial Bank.
The fourth group includes Industrial and Commercial Bank of China (ICBC), Bank of China (BOC), China Construction Bank (CCB) and Agricultural Bank of China (ABC). There are currently no banks in the fifth group.
The authorities will work on the additional supervision of systemically important banks, urge the banks to meet the additional capital and leverage requirements, enhance their risk resistance and loss absorption capacity, and advance their macro-prudential management and micro-prudential supervisory capabilities, the regulators said.