Banco de Portugal has conducted its annual reassessment of the list of institutions identified as ‘other systemically important institutions’ (O-SIIs) and the respective capital buffers.

This decision was made within the scope of its annual revision of the identification of O-SIIs and the imposition of capital buffers, pursuant to Article 138-R (2) of the Legal Framework of Credit Institutions and Financial Companies and in the exercise of Banco de Portugal’s powers as national macroprudential authority. For this purpose, Banco de Portugal notified the European Central Bank, in accordance with Article 5 of Council Regulation (EU) No 1024/2013 of 15 October 2013, which did not object to the draft decision, and consulted with the National Council of Financial Supervisors, under Article 2 (3) (c) of Decree-Law No 143/2013 of 18 October 2013. 

As set out in legal and regulatory provisions, Banco de Portugal has released the table below with the names of the banking groups identified as O-SIIs in 2018 and the respective capital buffers as a percentage of the total risk exposure amount. These buffers shall consist of Common Equity Tier 1 on a consolidated basis and shall be met as follows: 25% on 1 January 2018, 50% on 1 January 2019, 75% on 1 January 2020 and 100% on 1 January 2021. These buffers will be revised each year or in the event of a significant restructuring process, more specifically, a merger or acquisition.