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 identified seven banking groups as Other Systemically Important Institutions (O-SIIs). For each O-SII, the Banco de Portugal has also set the corresponding capital buffer requirements, as a percentage of total risk exposure amount.
As provided for in the legal and regulatory provisions, the list of O-SIIs and the requirements are disclosed in the table below, as well as the date from which the decision taken by the Banco the Portugal applies. This buffer should consist of Common Equity Tier 1 on a consolidated basis.
O-SIIs | 1 January 2023 | 1 June 2023 |
|---|---|---|
Banco Comercial Português, S.A. | 1.000% | |
Caixa Geral de Depósitos, S.A. | 1.000% | |
Santander Totta, SGPS, S.A. | 0.500% | |
LSF Nani Investments S.à.r.l. | 0.500% | |
Banco BPI, S.A. | 0.500% | |
Caixa Económica Montepio Geral, Caixa Económica Bancária, S.A. | 0.250% | |
Caixa Central – Caixa Central de Crédito Agrícola Mútuo, CRL | 0.250% |
The decision was made by deliberation of the Board of Directors on 25 October 2022, 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. At the prior hearing of interested parties, the institutions identified as O SIIs did not object to the proposal either.
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 O-SII buffer rate at any time.
