Central Bank identifies five credit institutions as systemic banks
The Central Bank of Cyprus has designated five credit institutions as Other Systemically Important Institutions (O-SIIs) for 2024. These institutions, including Bank of Cyprus Public Company Ltd and Hellenic Bank Public Company Ltd, will need to maintain higher capital reserves due to their significant role in the Cypriot financial system. The CBC’s revised policy includes statistical methodologies from other central banks and a comparative analysis with similar Eurozone member states.