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O-SII capital buffer for Other Systemically Important Institutions - Credit institutions


The Central Bank of Cyprus, in accordance with its policy for the designation of Other Systemically Important Institutions (O-SII institutions) and the methodology for the determination of the O-SII buffer requirement, concluded on 7 May 2020 its annual reassessment of the designation of credit institutions that meet the definition of O-SII institutions.  In accordance with the CBC's reassessment, six 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 each must meet.

As per the CBC announcement of 10 April 2020, with this measure, it was also decided to defer the phasing-in schedule for the gradual build-up of this buffer by 12 months, thus releasing on 1 January 2021 approximately €90 million of capital from the banking system, aiming to further assist corporations and households to deal with the economic consequences of the COVID-19 pandemic and to safeguard the stability of the financial system.

 

Credit institution’s name

Total O-SII score
(Basis points)

Total O-SII capital buffer requirement

O-SII buffer requirement applicable

as of 1 January:

2019*

2020**

2021

2022

2023

Bank of Cyprus Public Company Ltd

3.293

2,0%

  0,5%

   1,0%

  1,0%

  1,5%

 2,0%

Hellenic Bank Public Company Ltd

2.418

1,5%

  0,375%

   0,75%

  0,75%

  1,125%

 1,5%

Eurobank Cyprus Ltd

1.472

1,0%

  0,25%

   0,5%

  0,5%

  0,75%

1,0%

RCB Bank Ltd

998

0,5%

  0,375%

   0,5%

  0,25%

  0,375%

0,5%

Astrobank Ltd

461

0,5%

-

   0,25%

  0,25%

  0,375%

0,5%

Αlpha Bank Cyprus Ltd

399

0,5%

  0,125%

   0,25%

  0,25%

  0,375%

0,5%

* It was set during the annual reassessment that was concluded on 25 October 2018.

** It was set during the annual reassessment that was concluded on 11 October 2019.

 

Information relating on 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.