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.

Graphs monitoring the decisions on capital buffers for systemically important institutions

The chart 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 a global systemically important institution (G-SII). By contrast, BBVA and CaixaBank do not surpass the threshold of 130 basis points to be classified as G-SII.

SOURCE: Basel Committee on Banking Supervision.

Note: The institutions to the right of the vertical grey line are not considered G-SIIs. Scores at end-2020.

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

The chart depicts the evolution of the Spanish O-SII scores, which are relatively stable. O-SIIs’ systemic importance is assessed using a set of variables measuring the size, interconnectedness, substitutability of the services provided, complexity and cross-border activity of banks. The increase in CaixaBank’s score in 2020 is due to the acquisition of Bankia.

SOURCE: Banco de España

Notes: 1) Banco Popular was acquired by Santander in June 2017. 2) CaixaBank’s score in 2021 reflects the increase in the score as a result of the merger with Bankia, effective in March 2021.

Data download File CSV: Opens in a new window (1.004 B)

The chart depicts the relationship between the scores of the European banks identified as O-SIIs in other Member States and the buffer applied by the relevant authorities. The dotted line denotes the minimum buffer under the ECB methodology and the Spanish banks are marked in red.

SOURCES: Banco de España and ESRB.

Note: The Spanish banks are marked in red.

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