Notice2025-22964
Regulation Q; Regulatory Capital Rule: Risk-Based Capital Surcharges for Global Systemically Important Bank Holding Companies
Primary source
Metadata and text below are from the Federal Register, a public-domain U.S. government work. Always verify the official published version before relying on it for any legal matter.
Published
December 16, 2025
Issuing agencies
Federal Reserve System
Abstract
The Board is providing notice of the 2025 aggregate global indicator amounts, as required under the Board's rule regarding risk- based capital surcharges for global systemically important bank holding companies.
Full Text
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<title>Federal Register, Volume 90 Issue 239 (Tuesday, December 16, 2025)</title>
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[Federal Register Volume 90, Number 239 (Tuesday, December 16, 2025)]
[Notices]
[Pages 58245-58246]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2025-22964]
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FEDERAL RESERVE SYSTEM
[Docket No. OP-1875]
Regulation Q; Regulatory Capital Rule: Risk-Based Capital
Surcharges for Global Systemically Important Bank Holding Companies
AGENCY: Board of Governors of the Federal Reserve System (Board).
ACTION: Notice.
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SUMMARY: The Board is providing notice of the 2025 aggregate global
indicator amounts, as required under the Board's rule regarding risk-
based capital surcharges for global systemically important bank holding
companies.
DATES: December 16, 2025.
FOR FURTHER INFORMATION CONTACT: Juan Climent, Deputy Associate
Director, (202) 872-7526, Brian Chernoff, Manager, (202) 731-8914,
Alexander Jiron, Senior Financial Institution Policy Analyst II, (202)
450-7350, or Aakash Jani, Senior Financial Institution Policy Analyst
I, (202) 941-8305, Division of Supervision and Regulation; or Jay
Schwarz, Deputy Associate General Counsel, (202) 452-2970, Mark Buresh,
Senior Special Counsel, (202) 499-0261, or Jonah Kind, Senior Counsel,
(202) 309-5287, Legal Division. Board of Governors of the Federal
Reserve System, 20th and C, NW, Washington, DC 20551. For the hearing
impaired and users of Telecommunications Device for the Deaf (TDD) and
TTY-TRS, please call 711 from any telephone, anywhere in the United
States.
SUPPLEMENTARY INFORMATION: The Board's framework for determining risk-
based capital surcharges for global systemically important bank holding
companies (GSIB surcharge rule) establishes a methodology to identify
global systemically important bank holding companies (GSIBs) in the
United States based on indicators that are correlated with systemic
[[Page 58246]]
importance.\1\ Under the GSIB surcharge rule, a firm must calculate its
GSIB score using a specific formula (method 1). Method 1 uses five
equally weighted categories that are correlated with systemic
importance--size, interconnectedness, cross-jurisdictional activity,
substitutability, and complexity--and subdivided into twelve systemic
indicators.
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\1\ See 12 CFR 217.402, 217.404.
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A firm divides its own measure of each systemic indicator by an
aggregate global indicator amount. A firm's method 1 score is the sum
of its weighted systemic indicator scores expressed in basis points. A
firm that calculates a method 1 score of 130 basis points or more is
identified as a GSIB under the GSIB surcharge rule. The GSIB surcharge
for a firm is the higher of the GSIB surcharge determined under method
1 and a second method, method 2, which is calculated based on measures
of size, interconnectedness, cross-jurisdictional activity, complexity,
and the firm's reliance on short-term wholesale funding.\2\
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\2\ Method 2 uses similar inputs to those used in method 1 but
replaces the substitutability category with a measure of a firm's
use of short-term wholesale funding. See 12 CFR 217.405.
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The aggregate global indicator amounts used in the score
calculation under method 1 are based on data collected by the Basel
Committee on Banking Supervision (BCBS). The BCBS amounts are
determined based on the sum of the systemic indicator amounts reported
by the 75 largest U.S. and foreign banking organizations as measured by
the BCBS, and any other banking organization that the BCBS includes in
its sample total for that year. The BCBS publicly releases these
amounts, denominated in euros, each year.\3\ Pursuant to the GSIB
surcharge rule, the Board publishes the aggregate global indicator
amounts each year denominated in U.S. dollars using the euro-dollar
exchange rate provided by the BCBS.\4\ Specifically, to determine the
2025 aggregate global indicator amounts, the Board used the year-end
2024 euro-denominated indicator amounts published by the BCBS and
multiplied each of the euro-denominated indicator amounts by 1.0389,
the euro to U.S. dollar spot exchange rate on December 31, 2024.\5\
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\3\ The data used by the Board are available on the BCBS website
at <a href="https://www.bis.org/bcbs/gsib/denominators.htm">https://www.bis.org/bcbs/gsib/denominators.htm</a>.
\4\ 12 CFR 217.404(b)(1)(i)(B); see also 80 FR 49082, 49086-87
(August 14, 2015). In addition, the Board maintains the GSIB
Framework Denominators on its website, available at <a href="https://www.federalreserve.gov/supervisionreg/basel/denominators.htm">https://www.federalreserve.gov/supervisionreg/basel/denominators.htm</a>.
\5\ Foreign exchange rates provided by the BCBS. Available at
<a href="https://www.bis.org/bcbs/gsib/reporting_instructions.htm">https://www.bis.org/bcbs/gsib/reporting_instructions.htm</a>.
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The aggregate global indicator amounts expressed in U.S. dollars
for purposes of the 2025 method 1 score calculation under Sec.
217.404(b)(1)(i)(B) of the GSIB surcharge rule are:
Aggregate Global Indicator Amounts in U.S. dollars (USD) for 2025
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Aggregate global
Category Systemic indicator indicator amount (in
USD)
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Size.......................................... Total exposures....................... 115,610,567,459,028
Interconnectedness............................ Intra-financial system assets......... 11,744,530,471,538
Intra-financial system liabilities.... 11,549,951,568,929
Securities outstanding................ 20,989,667,733,564
Substitutability.............................. Payments activity..................... 3,583,068,096,731,293
Assets under custody.................. 236,728,086,197,216
Underwritten transactions in debt and 9,458,987,280,583
equity markets.
Complexity.................................... Notional amount of over-the-counter 743,719,670,668,380
(OTC) derivatives.
Trading and available-for-sale (AFS) 4,617,580,286,026
securities.
Level 3 assets........................ 785,843,290,915
Cross-jurisdictional activity................. Cross-jurisdictional claims........... 27,556,319,815,579
Cross-jurisdictional liabilities...... 22,625,378,519,775
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Authority: 12 U.S.C. 248(a), 321-338a, 481-486, 1462a, 1467a, 1818,
1828, 1831n, 1831o, 1831p-l, 1831w, 1835, 1844(b), 1851, 3904, 3906-
3909, 4808, 5365, 5368, 5371, 5371 note, and sec. 4012, Pub. L. 116-
136, 134 Stat. 281.
By order of the Board of Governors of the Federal Reserve
System, acting through the Acting Director of Supervision and
Regulation under delegated authority.
Benjamin W. McDonough,
Deputy Secretary of the Board.
[FR Doc. 2025-22964 Filed 12-15-25; 8:45 am]
BILLING CODE 6210-01-P
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