The JP Morgan Chase building on Park Avenue.
The JP Morgan Chase building on Park Avenue. - 

**UPDATE (Sept. 20): Prudential Financial has been officially designated as too big to fail.


“Too Big To Fail” is the vernacular for “Systemically Important Financial Institution,” or SIFI. The financial crisis spawned both phrases, and Dodd-Frank enshrined SIFI into law.

SIFIs are companies whose demise could threaten the greater economy. Under Dodd-Frank, they are subjected to stricter regulatory monitoring than their smaller, less systemically important counterparts. Any bank holding company in the U.S. with at least $50 billion in assets is automatically a SIFI. Currently, 36 U.S. and foreign banks are on the list.

But Dodd-Frank also created the Financial Risk Oversight Council, tasked with identifying emerging threats to the economy and designating nonbank financial companies that are too big to fail. General Electric Capital and American International Group, the giant insurer that was bailed out a day after Lehman Brothers failed, were added to the list in July. In addition, FSOC has named eight financial market utilities, such as companies that are clearing houses for securities transactions, as SIFIs.

Want to know who made the too-big-to-fail list? Read below:

Bank Holding Companies (by asset size*):

JPMorgan Chase

Bank of America

Citigroup

Wells Fargo

Goldman Sachs

Morgan Stanley

Bank of New York Mellon

U.S. Bancorp

HSBC North America

PNC Financial Services

Capital One Finance

TD Bank

State Street

Principal Financial

BB&T

SunTrust

American Express

Ally Financial

Charles Schwab

Fifth Third

USAA

Regions Financial

RBS Citizens Financial

BMO Financial

Union Bancal

Northern Trust

KeyCorp

M&T Bank

Bancwest

Santander Holdings USA

Discover Financial

Deutsche Bank

BBVA Compass

Comerica

Huntington Bancshares

Zions Bancorp

NonBank Financial Companies:

AIG

General Electric Capital

Prudential Financial **(added Sept. 20, 2013)

Metlife (in the designation process)

Financial Market Utilities:

Clearing House Payments

CLS Bank International

Chicago mercantile Exchange

Depository Trust

Fixed Income Clearing

ICE Clear Credit

National Securities Clearing

Options Clearing Corporation

*as of June 30, 2013

Sources: Federal Reserve, Treasury Department


And here, in turn, are the number of banks that have failed in the last five years.


Source: FDIC

Lehman's Legacy: A Timeline

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