In a move that could shake confidence in the global financial industry and the global economy, five major U.S. banks have been placed on a “watch list” by the U.N. Security Council.
The move comes as Congress debates whether the U-turn is warranted.
The list of banks was put together by the Security Council in September, and is intended to help the U and the United States protect itself against potential cyber attacks.
But the council has been under criticism for months for the lack of urgency in cracking down on cyber attacks that have hit dozens of other countries and caused widespread financial losses.
Ahead of the council’s vote on the U’s new sanctions Tuesday, members expressed concern that the list could hinder the ability of U.K. banks to serve the global markets and businesses.
“I am concerned about the possible impact of this listing on U.k. banks in Europe and the U., and U.s. banks globally,” said the U.-S.
Ambassador to the U, Michael Froman.
“It will hinder the U.’s ability to access its global banking system, including its core trading and investment business.”
As of this week, the U has the third largest trading volume in the world, according to Bank of America Merrill Lynch.
The U.B.N.’s top bank, HSBC, has the second largest trading capacity in the globe.
In a statement, the Council said it would continue to work closely with member states and other stakeholders to develop an appropriate list of global banks and financial institutions.
The U.R.C.C., an organization of 28 countries, includes the Bank of Japan, the Bank for International Settlements, the European Central Bank and the International Monetary Fund.
The new list, which has been circulating for months, includes U.A.E.-based Royal Bank of Scotland, the Netherlands-based Royal Dutch Shell, the Swiss National Bank and Deutsche Bank.
The Council said the list will also be shared with countries that have experienced major cyber attacks in recent years.
government’s response to this crisis will be determined by how the global community responds to this information, as it relates to the specific nature of the attacks, their scale and nature of damage,” the statement said.