ESRB Publishes Member State Notifications on O-SII Buffers
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.
Related Links
- 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
Featured Experts
María Cañamero
Skilled market researcher; growth strategist; successful go-to-market campaign developer
Nicolas Degruson
Works with financial institutions, regulatory experts, business analysts, product managers, and software engineers to drive regulatory solutions across the globe.
Pierre-Etienne Chabanel
Brings expertise in technology and software solutions around banking regulation, whether deployed on-premises or in the cloud.
Previous Article
ECB Responds to EC Proposal on New Digital Finance StrategyRelated Articles
EBA Sets Out Work Priorities and Deliverables for 2021
EBA published its annual work program for 2021. The work program describes the activities and deliverables for the coming year in the context of the six key strategic areas of work.
PRA Proposes to Amend SS11/13 on Internal Ratings-Based Approaches
PRA is proposing, via the consultation paper CP14/20, to introduce two complementary expectations on the level of mortgage risk-weights in UK for banks applying the internal ratings-based approaches.
ECB Confirms Compliance of €STR with Financial Benchmark Principles
ECB published its statement of compliance with the IOSCO principles for financial benchmarks developed by IOSCO.
OSFI Updates Timelines for Implementation of IFRS 17
OSFI updated the timelines for implementation of IFRS 17 on insurance contracts.
IFRS Consults on Global Approach to Sustainability Reporting
IFRS launched a consultation to assess the demand for global sustainability standards.
EIOPA Sets Out Work Priorities for 2021-2023
EIOPA has set out the work priorities for 2021-2023, taking into account the current market situation in light of the COVID-19 pandemic.
US Agencies Finalize Three Interim Final Rules Issued Amid Pandemic
US Agencies (FDIC, FED, and OCC) finalized three interim final rules that were published in March and April this year to ease the impact of disruptions caused by the COVID-19 pandemic.
US Agencies Finalize Interim Final Rules Issued Amid Pandemic
US Agencies (FDIC, FED, and OCC) finalized two rules, which are either identical or substantially similar to the interim final rules in effect and issued earlier this year.
APRA Proposes to Increase Transparency of Banking Data
APRA announced that it is resuming consultation on the confidentiality of data submitted to APRA by the authorized deposit-taking institutions.
EIOPA Consults on Use of Risk Mitigation Techniques Under Solvency II
EIOPA is consulting on a supervisory statement on the use of risk mitigation techniques by insurance and reinsurance undertakings.
