Other Systemically Important Institutions (O-SIIs)

The list of institutions included in this section follows the EBA Guidelines on the criteria for the assessment of Other Systemically Important Institutions (O-SIIs) - pursuant to Article 131 (3) of Directive 2013/36/EU. O-SIIs are institutions that, due to their systemic importance, are more likely to create risks to financial stability. Whilst maximizing private benefits through rational decisions, these institutions may bring negative externalities into the system and contribute to market distortions.

The methodology in the EBA Guidelines requires relevant authorities to assess systemic risk. It looks into convergence, comparability and flexibility, and provides a two-steps approach: relevant authorities initially assess institutions through a predefined set of criteria and indicators, which reflect negative events and look at weaknesses from a financial stability perspective. In this stage, institutions are given a score from 0 to 10000 bps representing their systemic riskiness. In the following stage, relevant authorities further assess institutions which might have not been already identified as O-SIIs, but may be specific and significant in their own financial system. They do so through other quantitative or qualitative factors.

Both the first and second steps of the O-SII identification process reflect the 12 principles in the global framework provided by the Basel Committee to deal with Domestic Systemically Important Banks (D-SIBs).

The higher loss absorbency requirements set by the relevant authorities and resulting from this identification process are also included and with the obligation for these institutions to maintain a CET1 capital buffer of up to 2% of the total risk exposure amount, as laid down in Article 131 (5) of Directive 2013/36/EU.

To increase the transparency of financial markets, the European Banking Authority (EBA) publishes a list of institutions identified by national competent or designated authorities as other systemically important institutions (O-SIIs) in accordance with Article 131, paragraph 1, of Directive 2013/36/EU on access to the activity of credit institutions and the prudential supervision of credit institutions and investment firms. 

The list published by the EBA is set up solely on the basis of information provided by such competent or designated authorities in accordance with the EBA Guidelines on criteria to assess other systemically important institutions (O-SIIs). As underlined in the Directive 2013/36/EU, the assessment of systemic importance necessary to identify the O-SIIs remains under the remit of the national competent or designated authorities.

Therefore, this list has no legal significance and confers no rights in law. Although we aim to accurately reproduce the information received from the competent or designated authorities, the EBA accepts no responsibility or liability whatsoever with regard to the inclusion or non-inclusion of an institution in the list and in general the accuracy of its content, which lies with the competent or designated authorities at national level.

The O-SIIs identification process started in 2015 and takes place on a yearly basis. The CET1 O-SII buffer requirement should also be re-assessed every year on the basis of this yearly identification exercise and the O-SIIs scores.

To read more about the EBA Guidelines on the criteria for the assessment of Other Systemically Important Institutions (O-SIIs), please click here


List of O-SIIs notified to the EBA by year