TORONTO, Nov. 21, 2017 /PRNewswire/ -- Royal Bank of
Canada (RY on TSX and NYSE) today
announced it has been named a Global Systemically Important Bank
(G-SIB) by the Financial Stability Board (FSB), based in
Basel, Switzerland. This
designation reflects the size and scale of RBC's global
operations.
RBC is ranked in the lowest G-SIB capital surcharge bucket
(Bucket 1) and already meets the requirement of a 1% capital buffer
so does not expect any impact to its capital position with this
designation.
RBC will publicly disclose in the first quarter of 2018 a
detailed breakdown of all of the 12 G-SIB assessment indicators.
For more information please refer to the FSB web site at
fsb.org.
Caution Regarding Forward Looking Statements
Certain
statements contained in this press release may be deemed to be
forward-looking statements within the meaning of certain securities
laws, including the 'safe harbour' provisions of the United States
Private Securities Litigation Reform Act of 1995 and any applicable
Canadian securities legislation. These forward-looking statements
include, but are not limited to, statements about the effect of the
G-SIB designation on our capital position and the public disclosure
of the G-SIB assessment indicators. Forward-looking statements are
typically identified by words such as 'believe', 'expect',
'foresee', 'forecast', 'anticipate', 'intend', 'estimate', 'goal',
'plan' and 'project' and similar expressions of future or
conditional verbs such as 'will', 'may', 'should', 'could' or
'would'.
By their very nature, forward-looking statements require us to
make assumptions and are subject to inherent risks and
uncertainties, which give rise to the possibility that our
predictions, forecasts, projections, expectations or conclusions
will not prove to be accurate, that our assumptions may not be
correct and that our forward-looking statements, including
statements about the effect of the G-SIB designation on our capital
position and the public disclosure of the G-SIB assessment
indicators, will not be achieved. We caution readers not to place
undue reliance on these statements as a number of risk factors
could cause our actual results to differ materially from the
expectations expressed in such forward-looking statements. These
factors - many of which are beyond our control and the effects of
which can be difficult to predict - include: credit, market,
liquidity and funding, insurance, operational, regulatory
compliance, strategic, reputation, legal and regulatory
environment, competitive and systematic risks and other risks
discussed in the Risk management and Overview of other risks
sections of our 2016 Annual Report and the Risk management section
of our Q3 2017 Report to Shareholders; global uncertainty, the
Brexit vote to have the United
Kingdom leave the European Union (EU), weak oil and gas
prices, cyber risk, anti-money laundering, exposure to more
volatile sectors, technological innovation and new Fintech
entrants, increasing complexity of regulation, data management,
litigation and administrative penalties, the business and economic
conditions in the geographic regions in which we operate, the
effects of changes in government fiscal, monetary and other
policies, tax risk and transparency, and environmental risk.
We caution that the foregoing list of risk factors is not
exhaustive and other factors could also adversely affect our
results. When relying on our forward-looking statements to make
decisions with respect to us, investors and others should carefully
consider the foregoing factors and other uncertainties and
potential events. Material economic assumptions underlying the
forward looking statements contained in this press release are set
out in the Overview and outlook section and for each business
segment under the heading Outlook and priorities in our 2016 Annual
Report, as updated by the Overview and outlook section of the Q3
2017 Report to Shareholders. Additional information about these and
other factors can be found in the Risk management and Overview of
other risks sections of our 2016 Annual Report and the Risk
management section of the Q3 2017 Report to Shareholders. Except as
required by law, we do not undertake to update any forward-looking
statement contained in this press release, whether written or oral,
that may be made from time to time by us or on our behalf.
About RBC
Royal Bank of Canada is Canada's largest bank, and one of the largest
banks in the world, based on market capitalization. We are one of
North America's leading
diversified financial services companies, and provide personal and
commercial banking, wealth management, insurance, investor services
and capital markets products and services on a global basis. We
have approximately 81,000 full- and part-time employees who serve
more than 16 million personal, business, public sector and
institutional clients through offices in Canada, the U.S. and 35 other countries. For
more information, please visit rbc.com.
RBC helps communities prosper, supporting a broad range of
community initiatives through donations, community investments and
employee volunteer activities. For more information please see:
http://www.rbc.com/community-sustainability/.
Media contacts: North America:
Tanis Feasby, VP, Communications,
Wealth Management, Insurance & Finance, tanis.feasby@rbc.com,
416-955-5172; Europe: Louisa Fairman, Head of Communications, Investor
& Treasury Services, louisa.fairman@rbccm.com, +44 20 7029
7821; Investor Relations contact: Dave
Mun, SVP & Head, Investor Relations, dave.mun@rbc.com,
416-974-4924
