A failure of a systemically important financial institution may trigger a financial crisis. Thus since the global financial crisis, the international community has focused on protection of the global financial system through preventing the failure of systemically important financial institutions.
The list of global systemically important banks is set and annually updated on international level by the Financial Stability Board (FSB) and the Basel Committee on Banking Supervision (BCBS). The last update was performed in November 2015 using end-2014 data and the assessment methodology published by the BCBS in July 2013. The updated list comprises a total of 30 banks. The list of EU global systemically important banks identified by the BCBS and the list of global systemically important institutions (G-SIIs) identified by Member States' authorities in European Union are identical. In January 2016 EBA published revised final draft technical standards and Guidelines on the further specification of the indicators of global systemic importance and their disclosure.
Similarly, the list of global systemically important insurers is published and updated on international level. The list updated in November 2015 comprises a total of nine insurers.
Moreover, according to Article 131 of Directive 2013/36/EU (the so-called „CRD IV“) other systematically important institutions (O-SIIs) are to be identified in EU. O-SIIs are institutions deemed systemically relevant in addition to Global Systemically Important Institutions (G-SIIs).
The O-SIIs have been identified by relevant authorities across the European Union according to harmonised criteria provided by the EBA. The O-SIIs may be identified on individual, subconsolidated or consolidated basis, as applicable, and are systemically important from European Union or a Member State perspective. The criteria for the identification of O-SII include at least their size, importance for the economy of the Union or the relevant Member State, significance of cross-border activities and interconnectedness of the institution with the financial system. This list contains also the additional capital buffers that the relevant authorities may set for the O-SIIs they have identified.
The list of European O-SIIs was published on 25 April 2016 and may be found here.
20-6-2016
Update: Februar
The Czech National Bank reviewed the list of other systemically important institutions in the Czech Republic in November 2016 where it used mid-2016 data. The review was conducted according to Article 131 of Directive 2013/36/EU (CRD) and according to the relevant provisions of the Czech laws and follows also the EBA guidelines on the criteria to determine the conditions of application of Article 131(3) of CRD in relation to the assessment of other systemically important institutions (O-SIIs).
The consolidated groups designated as O-SIIs for 2017 include:
8-2-2017