The Central Bank of Cyprus (CBC) has finalised its annual review of Other Systemically Important Institutions (O-SIIs) for 2024.
Following revisions to its O-SII identification policy and capital buffer methodology, five credit institutions have been designated as O-SIIs.
In an official announcement, the CBC identified Bank of Cyprus Public Company Ltd, Hellenic Bank Public Company Ltd, Eurobank Cyprus Ltd, AstroBank Ltd, and Alpha Bank Cyprus Ltd as O-SIIs.
As a result, these institutions will be required to maintain a higher level of capital reserves due to their significant role in the Cypriot financial system.
The CBC’s revised policy incorporates various statistical methodologies used by other central banks to determine O-SII capital buffer requirements.
Additionally, the CBC conducted a comparative analysis of the Cypriot banking sector with those of similar Eurozone member states.
