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BOE policy statement sets out criteria to identify other systemically important institutions
Bank of England policy statement sets out criteria and scoring methodology that Prudential Regulation Authority uses to identify other systemically important institutions (O-SIIs). Is parallel to approach for identifying globally systemically important institutions (G-SIIs). Approach is consistent with European Banking Authority Guidelines which set out O-SII identification process consisting of two stages. First stage is minimum mandatory framework consisting of prescribed set of criteria, indicators and weights that authorities should use to identify the institutions that must be designated as O-SIIs. Second stage offers authorities discretion to overlay the mandatory part of the framework in order to better reflect the specificities of the national banking sector; and if appropriate, designate additional firms as O-SIIs.
Publisher:
National Regulators
Release date:
Dec 2020
Country:
United Kingdom
Type:
Law, Regulation and Policy
Parent:
Capital Requirements Directive - CRD IV, Capital Requirements Regulation - CRR
Topics:
Systemically important financial institutions (SIFIs), Capital adequacy
Sectors:
Banking, Securities
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