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Zions sheds 'big bank' label, removed from SIFI list

Published 09/12/2018, 05:42 PM
Updated 09/12/2018, 05:42 PM
© Reuters.  Zions sheds 'big bank' label, removed from SIFI list

© Reuters. Zions sheds 'big bank' label, removed from SIFI list

  • Zions Bancorp (NASDAQ:ZION) wins removal from the list of systemically important financial institutions by the Financial Stability Oversight Council, following plans to shed its bank holding company and simplify its structure.
  • Treasury Secretary Mnuchin says the FSOC determined that "there is not a significant risk that Zions could pose a threat to financial stability."
  • The move to remove the designation, which followed preliminary approval by the council in July, could mark the beginning of a concerted effort by regulators to ease oversight of all but the largest banks.
  • A new law approved by Congress in May raised the threshold for labeling a bank as a systemically important financial institution to $250B in assets from $50B; Zions has ~$65B in assets.
  • Now read: Hanmi Financial (HAFC) Presents At Raymond James U.S. Bank Conference - Slideshow


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