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:
- 16.12.2022. The Banco de España designates a Global Systemically Important Institution and establishes its macroprudential capital buffer rate for 2024
(129 KB) - 22.07.2022. The Banco de España updates the list of other systemically important institutions and sets their macroprudential capital buffer rates for 2023 (123 KB)
- 20.12.2021. Banco de España designates a Global Systemically Important Institution and establishes its macroprudential capital buffer rate for 2023 (165 KB)
- 29.07.2021. Banco de España updates the list of other systemically important institutions and sets their macroprudential capital buffer rates for 2022 (188 KB)
- 27.11.2020. Banco de España updates the list of systemically important institutions and sets their macroprudential capital buffers (201 KB)
- 25.11.2019. Banco de España updates the list of systemically important institutions and sets their capital buffers (202 KB)
- 21.11.2018. Banco de España updates the list of systemically important institutions and sets their capital buffers (1 MB)
- 24.11.2017. Banco de España updates the list of systemically important institutions and sets their capital buffers (252 KB)
- 14.12.2016. The Banco de España designates Banco Santander as a global systemically important institution in 2018 (130 KB)
- 07.11.2016. Banco de España designates the systemically important institutions in 2017 and sets their capital buffers (245 KB)
- 11.01.2016. Briefing note on the setting of the capital buffers for systemic institutions and the countercyclical capital buffer for 2016 (123 KB)
- 28.12.2015. The Banco de España sets the capital buffers for systemic institutions and the countercyclical capital buffer for 2016 (123 KB)
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 or expert judgement) are not considered G-SIBs/G-SIIs. Identification performed by the Basel Committee on Banking Supervision in 2022 (based on data at the end of 2021) to establish the list of G-SIBs and their associated macroprudential capital buffer rates for 2024.
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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 determine the O-SIIs buffer rate applicable to each institution depending on their score (0.25%, 0.5%, 0.75% and 1%). 3) Last data have been obtained in the exercise performed in 2022, based on data at end-2021, to determine the list of O-SIIs and their buffer rates applicable in 2023.
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 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 2022, based on data at end-2021, to determine the list of O-SIIs and their capital buffer rates applicable in 2023.