The Financial Stability Board (FSB) has removed Italy's UniCredit from the list of global systemically important banks and moved three banks, including Switzerland's UBS, up a notch. The FSB, the G20 financial governance body, began making annual rankings after the global financial crisis, requiring the world's largest lenders to hold an additional capital buffer, and subject themselves to stricter scrutiny of their operations. UniCredit was the only Italian credit institution among those deemed globally systemically important by the FSB. In addition to UniCredit, Credit Suisse was removed from the list and China's Bank of Communications was added for the first time, bringing the total number of banks from 30 to 29. Inclusion on the list means that banks are required to hold a capital buffer in addition to the general rules, ranging from 1 to 3.5 percent. Unicredit was on the low end of the list with a requirement of 1 percent. After the review, the 29 systemic banks are JP Morgan Chase, Bank of America, Citigroup, Hsbc, Agricultural Bank of China, Bank of China, Barclays, BNP Paribas, China Construction Bank, Deutsche Bank, Goldman Sachs, Industrial and Commercial Bank of China, Mitsubishi UFJ Fg, Ubs, Bank of Communications, Bank of New York Mellon, Groupe BPCE, Groupe Crédit Agricole, ING, Mizuho FG, Morgan Stanley, Royal Bank of Canada, Santander, Société Générale, Standard Chartered, State Street, Sumitomo Mitsui FG, Toronto Dominion, Wells Fargo.