RBS cleared from FSB list of global systemically important banks

RBS has dropped out of the Financial Stability Board's list of global systemically important banks, which should translate into lower funding costs for the lender.

Sweden's Nordea also managed to exit the global watchdog's list, while Bank of America and China Construction Bank moved down the list of the riskiest lenders.

On the other hand, Groupe BPCE, France's second largest lender, was added to the FSB's 2018 list.

Starting from 1 January 2019, GSIBs who were on the FSB's list in 2015 and remained on it would be asked by their own national authorities to meet requirements in terms of their total loss-absorbing capacity.

The head of the Basel-based FSB was Bank of England Governor Mark Carney.