The Bank of Portugal, acting as the national macroprudential authority, has identified seven banking groups as Other Systemically Important Institutions (O-SIIs) and set the corresponding O-SII capital buffer requirement for each group, expressed as a percentage of total risk exposure amount and to be met with Common Equity Tier 1. From 1 January 2026, the buffer rates will be 1.00% for Banco Comercial Português, 0.75% for Caixa Geral de Depósitos, 0.75% for Banco Santander Totta, 0.50% for LSF Nani Investments (consolidated) and 0.50% for Novo Banco (sub-consolidated), 0.50% for Banco BPI, 0.25% for Caixa Central – Caixa Central de Crédito Agrícola Mútuo, and 0.25% for Caixa Económica Montepio Geral. The decision was taken by the Bank of Portugal’s Board of Directors on 21 October 2025 after notifying the European Central Bank and consulting the National Council of Financial Supervisors, with no objections raised; the institutions identified as O-SIIs also did not object during the prior hearing. The O-SII buffer decision will be reviewed at least annually, and the Bank of Portugal may revise the list of O-SIIs and the applicable buffer rates at any time if developments in the Portuguese banking system warrant it.
Bank of Portugal 2025-11-28
Bank of Portugal designates seven banking groups as O-SIIs and sets CET1 buffer rates from 1 January 2026
The Bank of Portugal has designated seven banking groups as Other Systemically Important Institutions (O-SIIs) and set specific O-SII capital buffer requirements, effective 1 January 2026. Buffer rates range from 1.00% to 0.25% of total risk exposure, to be met with Common Equity Tier 1. The decision, made on 21 October 2025, will be reviewed annually and may be adjusted based on developments in the Portuguese banking system.