Press release of the Banco de Portugal on the imposition of capital buffers on credit institutions identified as “Other Systemically Important Institutions”
The Banco de Portugal, in the exercise of its powers as the national macroprudential authority, has decided to maintain the list of banking groups identified as Other Systemically Important Institutions (O-SIIs). For each O-SII, the Banco de Portugal has also confirmed the corresponding capital buffer requirements, as a percentage of total risk exposure amount, set on 27 October 2020.
As provided for in the legal and regulatory provisions, the aforementioned list and the requirements are disclosed in the table below, with effect from 1 January of each of the years indicated. This buffer should consist of Common Equity Tier 1 on a consolidated basis.
O-SIIs | 2022 | 2023 |
|---|---|---|
Banco Comercial Português, S.A. | 0.750% | 1.000% |
Caixa Geral de Depósitos, S.A. | 1.000% | 1.000% |
Santander Totta, SGPS, S.A. | 0.500% | 0.500% |
LSF Nani Investments S.à.r.l. | 0.500% | 0.500% |
Banco BPI, S.A. | 0.500% | 0.500% |
Caixa Económica Montepio Geral, Caixa Económica Bancária, S.A. | 0.250% | 0.250% |
*LEI (Legal Entity Identifier)
The decision was made by deliberation of the Board of Directors on 26 October 2021, having notified the European Central Bank, which did not object to the Banco de Portugal’s proposal, and following consultation of the National Council of Financial Supervisors.
The decision on the O-SII buffer is reviewed at least annually. The Banco de Portugal will continue to monitor any developments in the Portuguese banking system and, if appropriate, may review the phase-in period and/or the O-SII buffer rate at any time.
The decision now taken does not compromise the ability of the credit institutions concerned to finance the economy nor their ability to absorb losses arising from the pandemic crisis.
