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
APRA issued a letter on the loss-absorbing capacity (LAC) requirements for domestic systemically important banks (D-SIBs) and published a discussion paper, along with the proposed the prudential standards on financial contingency planning (CPS 190) and resolution planning (CPS 900).
The European Commission (EC) launched a call for evidence, until March 18, 2022, as part of a comprehensive review of the macro-prudential rules for the banking sector under the Capital Requirements Regulation (CRR) and Directive (CRD IV).
The Financial Stability Board (FSB) published a report that sets out good practices for crisis management groups.
The Australian Prudential Regulation Authority (APRA) found that Heritage Bank Limited had incorrectly reported capital because of weaknesses in operational risk and compliance frameworks, although the bank did not breach minimum prudential capital ratios at any point and remains well-capitalized.
The Office of the Superintendent of Financial Institutions (OSFI) released the annual report for 2020-2021.
Through a letter addressed to the banking sector entities, the Office of the Superintendent of Financial Institutions (OSFI) announced deferral of the domestic implementation of the final Basel III reforms from the first to the second quarter of 2023.
EIOPA recently published a letter in which EC is informing the European Parliament and Council that it could not adopt the set of draft regulatory technical standards for disclosures under the Sustainable Finance Disclosure Regulation (SFDR) within the stipulated three-month period, given their length and technical detail.
The Financial Conduct Authority (FCA) published the third in a series of policy statements that set out rules to introduce the UK Investment Firm Prudential Regime (IFPR), which will take effect on January 01, 2022.
The Australian Prudential Regulation Authority (APRA) published, along with a summary of its response to the consultation feedback, an information paper that summarizes the finalized capital framework that is in line with the internationally agreed Basel III requirements for banks.
The Committee on Payments and Market Infrastructures (CPMI) and the International Organization of Securities Commissions (IOSCO) issued a consultative report focusing on access to central counterparty (CCP) clearing and client-position portability.