EBA updates list of Other Systemically Important Institutions

15 April 2021

The European Banking Authority (EBA) updated today the list of Other Systemically Important Institutions (O-SIIs) in the EU, which, together with Global Systemically Important Institutions (G-SIIs), are identified as systemically important by the relevant authorities according to harmonised criteria laid down in the EBA Guidelines. This list is based on end-2019 data and also reflects the O-SII score and the capital buffers that the relevant authorities have set for the identified O-SIIs. The list of O-SIIs is available also in a user-friendly visualisation tool, including the information on O-SII buffers assigned to identify institutions across the EU and the achieved overall score.

The EBA Guidelines define the size, importance, complexity and interconnectedness as the criteria to identify O-SIIs. They also provide flexibility to relevant authorities to apply their supervisory judgment when deciding to include other institutions, which might have not been automatically identified as O-SIIs. This approach ensures a comparable assessment of all financial institutions across the EU, whilst still not excluding those firms that may be deemed systemically important for one jurisdiction on the basis of certain specificities. 

The EBA acts as the single point of disclosure for the list of O-SIIs across the EU, while each relevant authority discloses information for its respective jurisdiction, along with further details on the underlying rationale and identification process. This additional information is relevant to understanding the specific features of each O-SII and get some insight in terms of supervisory judgment, optional indicators used, buffer decisions and phase-in implementation dates.

The list of O-SIIs is disclosed on an annual basis, along with any Common Equity Tier 1 (CET1) capital buffer requirements. Higher capital requirements will become applicable once relevant authorities decide to set institution-specific buffer requirements following the O-SII identification. For each O-SII, the list includes the overall score in terms of basis points resulting from the EBA scoring methodology.

 

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Franca Rosa Congiu

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