The combined assets of the largest banks have declined since the passage of post-crisis banking reform after adjusting for inflation or as a share of the economy. The U.S. banking agencies identify eight U.S. banking organizations as “Global Systemically Important Banks” or “GSIBs” – Bank of America, Bank of New York Mellon, Citi Group, Goldman Sachs, J.P. Morgan Chase, Morgan Stanley, State Street, and Wells Fargo.
In 2010 Q2, just prior to the passage of the Dodd-Frank Act, the combined assets of those banks equaled $9.64 trillion. In 2016:Q2, the combined assets equaled $10.72 trillion. But, after adjusting for inflation (using CPI ex food and energy), combined assets of the banks in 2016 equaled $9.58 trillion, slightly lower than in 2010. Moreover, the economy has also increased in size over that interval. In 2010, the combined assets equaled 66 percent of nominal GDP; in 2016 they equaled 58 percent, a substantial decline.
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