Macroprudential decision: Nordea Bank Oyj will not become a global systemically important credit institution (G-SII) as of 1 January 2020
At its meeting on 20 December 2018, the Board of the Financial Supervisory Authority (FIN-FSA) decided that Nordea Bank Oyj will not become a global systemically important credit institution (G-SII). The decision will enter into force as of 1 January 2020.
On 16 November 2018, the Financial Stability Board published its annual list of global systemically important credit institutions (G-SIB). Nordea Bank Oyj was not included in the list, because Nordea Bank Oyj’s points score was below the minimum level required for a credit institution to be identified as a global systemically important credit institution.
The FIN-FSA Board’s decision replaces the decision made on 29 June 2018. The decision does not affect Nordea’s capital adequacy requirement, because of the additional capital requirements imposed for macroprudential reasons only the highest is applied. Nordea’s additional capital requirement will accordingly rise on 1 January 2019 to two (2) per cent (the O-SII buffer imposed according to systemic significance for Finland’s financial system) and on 1 July 2019 to three (3) per cent (systemic risk buffer, imposed on the basis of the structural characteristics of the financial system).
For further information, please contact
- Marja Nykänen, Chair of the Board of the Financial Supervisory Authority, tel. +358 9 183 2007
- Anneli Tuominen, Director General of the Financial Supervisory Authority
Requests for interviews are coordinated by FIN-FSA Communications, tel. +358 9 183 5030, 9.00–17.00.
- Board’s decision on Nordea Bank Oyj's identification as a G-SII (pdf)
- Director General of the FIN-FSA’s proposal, circulated for comment, on Nordea Bank Oyj’s identification as a G-SII (pdf)
- Opinions on the Director General’s proposal on Nordea Bank Oyj's identification as a G-SII (pdf)