Jpmbuilding
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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