Largest central banks worldwide by assets 2022 | Statista (2024)

FAQs

Largest central banks worldwide by assets 2022 | Statista? ›

The Federal Reserve System was the largest central bank in the world in 2022, with total assets exceeding 8.57 trillion U.S. dollars. The Federal Reserve System consists of 12 Federal Reserve Banks, with the Federal Reserve Bank of New York holding by far the highest value of assets.

The largest bank in the world based on total assets in 2022 was the Industrial and Commercial Bank of China (ICBC).

The U.S. Federal Reserve is one of the most powerful central banks in the world. The European Central Bank oversees the policies of the eurozone. Other notable central banks include the Bank of England, the Bank of Japan, the Swiss National Bank, the Bank of Canada, and the Reserve Banks of Australia and New Zealand.

The U.S. central banking system—the Federal Reserve, or the Fed—is the most powerful economic institution in the United States, perhaps the world. Its core responsibilities include setting interest rates, managing the money supply, and regulating financial markets.

As of 2023, the world's biggest private bank in terms of assets under management (AUM) is UBS Group AG. UBS, a Swiss multinational investment bank and financial services company, is renowned for its extensive services in wealth management, investment banking, asset management, and retail banking.

The United States was a leading force in the establishment of the International Bank for Reconstruction and Development (IBRD) in 1944 and remains the largest shareholder of the World Bank Group today.

The United States is the largest single shareholder, followed by Japan, Germany, the United Kingdom, and France. The rest of the shares are divided among the other member countries. A Board of Governors represents the Bank's government shareholders.

Bank of America Corporation (NYSE:BAC), The Goldman Sachs Group, Inc. (NYSE:GS), JPMorgan Chase & Co. (NYSE:JPM), and Wells Fargo & Company (NYSE:WFC) are some of the most profitable banks in America. Click to continue reading and see 5 Most Profitable Banks in the US in 2024.

JPMorgan Chase is the top largest bank in the US, with a balance sheet total of $3.31 trillion.

Although governments do hold power over countries' economies, it is the big banks and large corporations that control and essentially fund these governments. This means that the global economy is dominated by large financial institutions.

Who owns the 12 central banks? ›

Under the Federal Reserve Act of 1913, each of the 12 regional reserve banks of the Federal Reserve System is owned by its member banks, who originally ponied up the capital to keep them running. The number of capital shares they subscribe to is based upon a percentage of each member bank's capital and surplus.

In 1668, the Riksdag, Sweden's parliament, decided to found Riksens Ständers Bank (the Estates of the Realm Bank), which in 1867 received the name Sveriges Riksbank. The Riksbank is thus the world's oldest central bank.

2. The Three Key System Entities. The Board of Governors, the Federal Reserve Banks, and the Federal Open Market Committee work together to promote the health of the U.S. economy and the stability of the U.S. financial system.