The credit institutions that are considered systemically important and the safety reserve that each of them must have for 2025 was determined by a decision of the Bank of Greece.
In particular, the following institutions were identified as Other Systemically Important Institutions (O-SII) on a consolidated basis: National Bank of Greece S.A., Piraeus Financial Holdings S.A., Alpha Services and Holdings S.A. and Eurobank Ergasias Services and Holdings S.A., and on an individual basis the institutions: Alpha Bank S.A., National Bank of Greece S.A., Piraeus Bank S.A. and Eurobank S.A.
It also set the O-SII buffer rate for 2025 at 1.25% for the institution Eurobank Ergasias Services and Holdings S.A. on a consolidated basis and at 1% for institutions: National Bank of Greece S.A. on an individual and consolidated basis, Piraeus Financial Holdings A.E. on a consolidated basis and Piraeus Bank SA on an individual basis, Eurobank S.A. on an individual basis, Alpha Services and Participations S.A. on a consolidated basis and Alpha Bank SA. on an individual basis, with an effective date of January 1, 2025.
The methodology applied by the Bank of Greece for the determination of O-SIIs and the determination of the O-SII safety stock is reflected in Executive Committee Act 221/1/17.10.2023 (Government Gazette B΄ 6141).
According to this methodology, a score is calculated that indicates the systemic importance of each institution based on specific criteria, regarding size, importance for the economy of Greece and the European Union, the importance of cross-border activities, including the complexity arising from cross-border activities, as well as the degree of interconnection of the institution with the financial system. These four criteria correspond to mandatory indicators, which are used as a minimum to calculate the score of each institution, expressed in base points (bp). Those institutions that exceed 350 sq (score threshold) are considered O-SII due to their systemic importance.
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