megabanks
Too-big-to-fail institutions
Megabanks are the largest financial institutions—banks so massive in assets, reach, and influence that they operate on a global scale and are often considered "too big to fail." The term typically refers to institutions like JPMorgan Chase, Bank of America, or HSBC.
Critics use megabank to emphasize concerns about concentrated financial power and systemic risk: The megabanks emerged from the 2008 crisis even larger than before.
Advocating to decision-makers
- regulationOfficial rules governing conduct
- policymakingCreating official guidelines
- legislationOfficial enactment of statutes
- governmentAuthority over a state
bailout · deregulation · Dodd-Frank · Basel · advisory · insider · elite · connections
Emergency aid preventing bankruptcy
- 2008Year before 2009
- greedExcessive desire for wealth
- exploitationSelfish use of others
- inequalityUnequal distribution of resources
fees · scandals · fines · fraud · subprime · collapse · taxpayer · accountability
Few firms dominate market
- monopolyOne seller, no substitutes
- concentrationSustained single-minded attention
- consolidationCombining into unified whole
- hegemonyDominant group's control
control · competition · antitrust · predatory · acquisitions · mergers · supremacy · centralization
Spanning national boundaries
- internationalConcerning relations among countries
- worldwideExtending across Earth
- currenciesOfficial mediums of exchange
- offshoreAway from land
SWIFT · remittances · expansion · subsidiaries · London · Singapore · Tokyo · transnational
Ten to the twelfth
- assetsOwned items of value
- depositsMaterial settled or stored
- conglomerateCorporation spanning many industries
- multinationalOperating across multiple countries
commercial · retail · lending · mortgage · transactions · branches · global · nationwide
Corporate consolidations
- acquisitionsThings newly gained
- securitiesTradeable financial assets
- underwritingRisk evaluation and acceptance
- syndicateCombined group pursuing shared interest
portfolio · equity · restructuring · treasury · IPO · derivatives · fiduciary · compliance
lobbying
Advocating to decision-makers
- regulationOfficial rules governing conduct
- policymakingCreating official guidelines
- legislationOfficial enactment of statutes
government · bailout · deregulation · Dodd-Frank · Basel · advisory · insider · elite · connections · clout
bailout
Emergency aid preventing bankruptcy
- 2008Year before 2009
- greedExcessive desire for wealth
- exploitationSelfish use of others
inequality · fees · scandals · fines · fraud · subprime · collapse · taxpayer · accountability · reckless
oligopoly
Few firms dominate market
- monopolyOne seller, no substitutes
- concentrationSustained single-minded attention
- consolidationCombining into unified whole
hegemony · control · competition · antitrust · predatory · acquisitions · mergers · supremacy · centralization · squeeze
cross-border
Spanning national boundaries
- internationalConcerning relations among countries
- worldwideExtending across Earth
- currenciesOfficial mediums of exchange
offshore · SWIFT · remittances · expansion · subsidiaries · London · Singapore · Tokyo · transnational · diversification
trillion
Ten to the twelfth
- assetsOwned items of value
- depositsMaterial settled or stored
- conglomerateCorporation spanning many industries
multinational · commercial · retail · lending · mortgage · transactions · branches · global · nationwide · workforce
mergers
Corporate consolidations
- acquisitionsThings newly gained
- securitiesTradeable financial assets
- underwritingRisk evaluation and acceptance
syndicate · portfolio · equity · restructuring · treasury · IPO · derivatives · fiduciary · compliance · divestiture