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Other Systemically Important Institutions (O-SIIs) in the EU

Other Systemically Important Institutions (O-SIIs) in the EU

On 19th March 2019 the European Banking Authority (EBA) published the list of Other Systemically Important Institutions (O-SIIs) in the EU. O-SIIs are institutions which have been identified by the relevant authorities in the European Union according to the criteria set by the EBA Guidelines. The criteria are based on Article 131(3) CRD and include the size, importance, complexity (or cross-border activities) and interconnectedness. The list also contains the capital buffers that the relevant authorities have set for the identified O-SIIs.

O-SIIs are along with the Global Systemically Important Institutions (G-SIIs), institutions that are more likely to create risks to financial stability. While G-SIIs may pose risk globally, the O-SIIs are systemically important on European or a Member State level.

The list includes also 7 banks which have their registered office in the Czech Republic. The Czech National Bank published a more detailed explanation on drawing up the list. The O-SIIs in the Czech Republic are not obliged to hold an O-SII buffer but some of them are subject to systemic risk buffer . However, under the future CRD5 this will have to be reassessed.