The Central Bank of Cyprus (CBC), in accordance with its policy for the designation of credit institutions that meet the definition of Other Systemically Important Institutions (O-SII institutions) and the methodology for the determination of the O-SII buffer requirement, concluded its annual reassessment of the designation of credit institutions that meet the definition of O-SII institutions for 2023. In accordance with the CBC's reassessment, five credit institutions have been designated as O-SII institutions, which are listed in the Table below along with the corresponding O-SII capital buffer rate that each credit institution must meet and the phase in period (where an additional O-SII buffer requirement applies).
|Institution’s name||LEI code||Total O-SII score
|Total O-SII capital buffer requirement||O-SII buffer requirement applicable as of 1 January:|
|Bank of Cyprus Public Company Ltd||PQ0RAP85KK9Z75ONZW93||3.562||2,25%||1,50%||1,875%||
|Hellenic Bank Public Company Ltd||CXUHEGU3MADZ2CEV7C11||2.796||1,50%||1,00%||1,25%||
|Eurobank Cyprus Ltd||5493004KSNEM4U7L8714||1.807||0,75%||0,75%||0,75%||
|Αlpha Bank Cyprus Ltd||529900VS0F7BA91P4I60||522||0,25%||0,25%||0,25%||
* The total score of the Cyprus credit institutions sector is 10.000 basis points.
** It was set during the annual reassesment that was concluded on 2 December 2022.
Information relating to the designation of credit institutions which meet the definition of O-SII institutions that took place in previous years, is set out in this file.