(Finance) – Based on data referring to 31 December 2022, no financial institution authorized in Italy is identified as Global
Systemically Important Institution (G-SII), or financial institution with global systemic importance. This is communicated by Bank of Italystating that the group UniCreditwhich was identified as a G-SII last year, is therefore no longer required to maintain the capital buffer required for G-SIIs (previously set at 1 percent of overall risk-weighted exposures, RWA).
The group, as identified as institution of national systemic importance by the Bank of Italy, however, remains required to maintain the capital reserve envisaged for the O-SIIs, which from January 1st will be equal to 1.50 percent of the RWA.
The methodology for identifying and classifying G-SIIs is defined in the European Commission Delegated Regulation EU/2014/1222. The regulation contains provisions consistent with what is established by Basel Committee for banking supervision and from Financial Stability Board (Financial Stability Board, FSB), so as to ensure that the same European banks included in the list published globally by the FSB with the same periodicity are identified annually as G-SIIs.