Financial stability and macroprudential policy

Systemically important institutions

The exercise to identify the global systemically important institutions (G-SIIs) and the domestic systemically important institutions, dubbed other systemically important institutions (O-SIIs), is performed yearly.

The institutions identified as G-SIIs and O-SIIs are subject to additional capital buffers. The aim of these buffers is for too-big-to-fail banks not to benefit from the expectation of public support in the event of difficulties. The goals are to:

When an institution is identified as both a G-SII and an O-SII, the highest of the two buffers applies.

Latest announcements:

Level of systemic importance and macroprudential capital buffer rates

Chart A depicts the systemic importance of the main banks around the world, ordered by decreasing systemic footprint. Systemic importance is calculated using a series of indicators linked to balance sheet size, interconnectedness with the banking and non-banking financial system, the substitutability of the services provided by each institution, the complexity of the activities pursued and the volume of cross-border business. One Spanish banking group, Banco Santander, qualifies as global systemically important. By contrast, BBVA and CaixaBank do not surpass the identification threshold of 130 basis points.

SOURCE: Bank for International Settlements.

Note: The institutions of the shaded area (score lower than 130 bp) are not considered G-SIBs/G-SIIs. Identification performed by the Basel Committee on Banking Supervision in 2021 (based on data at the end of 2020) to establish the list of G-SIBs and their associated macroprudential capital buffer rates.

Data download File CSV: Opens in a new window (2 KB)

 

Chart B depicts the evolution of the O-SII scores of Spanish credit institutions, which are relatively stable. O-SIIs’ systemic importance is assessed using a set of indicators measuring the size, interconnectedness, substitutability of the services provided and complexity of banks.

SOURCE: Banco de España

Notes: 1) Banco Popular was acquired by Santander in June 2017 and Bankia merged into CaixaBank in March 2021. 2) The shadings show the subcategories that, depending on the score, determine the O-SIIs buffer rate applicable to each institution (0.25%, 0.5%, 0.75% and 1%). 3) Last data have been obtained in the exercise performed in 2022, based on data as at end-2021, to determine the list of O-SIIs and their buffer rates applicable in 2023.

Data download File CSV: Opens in a new window (1 KB)

 

Chart C depicts the relationship between the scores of the institutions identified as O-SIIs in countries of the European Banking Union and the buffer rates set by their national authorities. The green line denotes shows the level of minimum O-SII rates set by the ECB. The Spanish O-SIIs are marked in red and other (European) O-SIIs in blue.

SOURCES: European Banking Authority, European Central Bank and Banco de España.

Note: The chart displays the score obtained by each institution in 2021, based on data as at end-2020, to determine the list of O-SIIs and their buffer rates applicable in 2022.

Data download File CSV: Opens in a new window (1 KB)