The Central Financial institution of Cyprus (CBC) has accomplished the annual assessment of the definition of credit score establishments falling below the definition of Different Systemically Essential Establishments (O-SII) for 2024, figuring out 5 credit score establishments as O-SII, on the idea of its revised coverage for the dedication of credit score establishments falling inside the definition of O-SII establishments and the methodology for figuring out the O-SII buffer requirement of every credit score establishment.
Specifically, the CBC states in an announcement that it has recognized Financial institution of Cyprus Public Firm Ltd, Hellenic Financial institution Public Firm Ltd, Eurobank Cyprus Ltd, AstroBank Ltd and Alpha Financial institution Cyprus Ltd as Different Systemically Essential Establishments (O -SII) and decided the quantity of O-SII capital buffer that they have to keep as a result of their systemic nature.
In reviewing the Coverage, the CBC states that it relied on various statistical methodologies, together with corresponding methodologies of different central banks in relation to setting the O-SII buffer requirement.
On the similar time, the CBC studies that it has proceeded with a comparative evaluation of the home banking sector with these of the euro zone member international locations with related traits.
