EBA, ECB, and ESRB have been notified by certain European national authorities about their decision on the identification of other systemically important institutions (O-SIIs) and the activation of the O-SII buffers. The national authorities that have notified EBA, ECB, and ESRB about their decisions on the identification of O-SIIs and the activation of O-SII buffers are Bank of Lithuania, Bank of Portugal, Central Bank of Iceland, Central Bank of Cyprus, Danish Financial Supervisory Authority, DNB, FIN-FSA, and National Bank of Slovakia. MNB also notified ESRB about its decision on the identification of O-SIIs and the activation of O-SII buffers.
DNB and FIN-FSA announced the list of identified O-SII institutions, their respective overall scores, and the respective buffer rates. The O-SII institutions identified by DNB include ING Bank N.V., Coöperatieve Rabobank U.A., ABN AMRO Bank N.V., BNG Bank N.V., and De Volksbank N.V. DNB notified that the buffers are fully phased-in as of 2019. The O-SII institutions identified by FIN-FSA include Nordea Group, OP-Group, and Municipality Finance Plc.
In addition, MNB announced a list of identified O-SII institutions, their respective level of the buffer applied, and the the timeline of the phase-in of the buffer requirements. The O-SII institutions include OTP Bank Nyrt., UniCredit Bank Hungary Zrt., Kereskedelmi és Hitelbank Zrt., ERSTE BANK HUNGARY Zrt., Raiffeisen Bank Zrt, MTB Magyar Takarékszövetkezeti Bank Zrt., CIB Bank Zrt., and MKB Bank Zrt. The phase-in period for the O-SII buffer requirements runs from January 01, 2022 until January 01, 2024. MNB shall annually review the group of institutions identified as O-SIIs and their respective O-SII buffer requirements.
- Notifications on Systemically Important Institutions
- DNB Notification (PDF)
- FIN-FSA (PDF)
- MNB Notification (PDF)
Keywords: Europe, EU, Banking, O-SII, Macro-Prudential Policy, Systemic Risk, Basel, Regulatory Capital, ECB, ESRB
Previous ArticleMFSA Publishes Guidelines on Submission of Reporting Data
The Hong Kong Monetary Authority (HKMA) revised the Supervisory Policy Manual module CG-5 that sets out guidelines on a sound remuneration system for authorized institutions.
The European Banking Authority (EBA) published the final guidelines on the monitoring of the threshold and other procedural aspects on the establishment of intermediate parent undertakings in European Union (EU), as laid down in the Capital Requirements Directive (CRD).
In a recent Market Notice, the Bank of England (BoE) confirmed that green gilts will have equivalent eligibility to existing gilts in its market operations.
The Financial Conduct Authority (FCA) published the policy statement PS21/9 on implementation of the Investment Firms Prudential Regime.
The European Banking Authority (EBA) proposed regulatory technical standards that set out criteria for identifying shadow banking entities for the purpose of reporting large exposures.
The Board of the International Organization of Securities Commissions (IOSCO) proposed a set of recommendations on the environmental, social, and governance (ESG) ratings and data providers.
The European Securities and Markets Authority (ESMA) published recommendations from the Working Group on Euro Risk-Free Rates (RFR) on the switch to risk-free rates in the interdealer market.
The European Central Bank (ECB) published a paper as well as an article in the July Macroprudential Bulletin, both of which offer insights on the assessment of the impact of Basel III finalization package on the euro area.
The International Swaps and Derivatives Association (ISDA) published a paper that explores the impact of the Fundamental Review of the Trading Book (FRTB) on the trading of carbon certificates.
The Prudential Regulation Authority (PRA) published the remuneration policy self-assessment templates and tables on strengthening accountability.