North American banks:
Goldman Sachs, JP Morgan Chase, Morgan Stanley, Bank of America-Merrill Lynch, Royal Bank of Canada
Note who’s missing: Citi and Wells.
Wells, it might be argued, has little cross-border involvement. Ok.
Citi, on the other hand…….
One wonders if there’s a game afoot here, in that Citibank apparently isn’t considered "too big to blow chunks", while they are unquestionably involved in world markets to an incredible degree – but they also have a whole bunch of interesting "assets" (including a massive amount off balance sheet) that I can’t get my arms around.
Perhaps there’s two categories among the "massively interconnected" – too big to fail, and too screwed up to save?
Update: Apparently Reuters was wrong, and Citi is on the list. Oh darn.