The G20 decided last month on a list of 29 banks that are systematically important and therefore too big to fail.
Yesterday eight of those banks were downgraded by Fitch.
Measures are already in place to make sure a failure by one of these banks doesn't destroy the global economy in the future. According to WSJ, they will have until the end of 2012 to make contingency plans for a collapse and shore up their capital reserves by 1-3.5%. By 2019, they'll have to maintain a ratio of tier 1 capital to liabilities 3.5% higher than that.
Read more: http://www.businessinsider.com/29-systematically-important-banks-2011-12#bank-of-america-1#ixzz1gsui4mmV
