Update to Systemically Important Entity Disclosure

Posted on November 13, 2020 by Editor

The world over, financial regulators have a host of additional powers wherever a company is so vital to the operation of the economy that it’s judged “systemically important” in the light of guidelines agreed after the 2008 financial crisis. It’s therefore important that there be clear and objective mechanisms to identify which organisations should be put into that category.  The European Banking Authority (EBA) recently revised final draft regulatory technical standards (RTS) that set out the indicators of global systemic importance, and revised guidelines on the disclosure requirements for global systemically important institutions (G-SIIs).

The revised approach to assessment includes a new trading volume indicator, and adds insurance to the indicators used to sort financial institutions into this important category. As things stand, while the way to assign companies to the list of EU global systemically important banks (G-SIBs) and G-SIIs has been updated, this has not resulted in an immediate change to the list of firms subject to more intensive supervision. Interested to see which companies are systemically important? There’s a range of information, including a list of EU and UK G-SIIs, over here — complete with LEIs!

Read more here.

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