The list of other systemically important credit institutions and the requirement for the other systemically important institutions buffer

This decree is established on the basis of section 86⁴⁸ (3) and (7) of the Credit Institutions Act.

§ 1.  For the purposes of § 86⁴⁸ of the Credit Institutions Act, the following institutions operating in Estonia are identified as other systemically important institutions:

1) Swedbank AS
2) AS SEB Pank
3) AS LHV Pank (RT I, 05.12.2017, 12 – entry into force 01.01.2018)
4) Luminor Bank AS (RT I, 22.05.2018, 17 – entry into force 01.07.2018)

§ 2.  The credit institutions referred to in § 1 are required to hold other systemically important institutions buffers at the following rates:

1) Swedbank AS: 2%
2) AS SEB Pank: 2%
3) AS LHV Pank: 1% (RT I, 22.05.2018, 17 – entry into force 01.01.2019)
4) Luminor Bank AS: 2% (RT I, 22.05.2018, 17 – entry into force 01.07.2018)

§ 3.  The other systemically important institutions buffer requirement is applied to the total risk exposure as calculated under Article 92 (3) of Regulation (EU) No 575/2013 of the European Parliament and of the Council of 26 June 2013 on prudential requirements for credit institutions and investment firms and amending Regulation (EU) No 648/2012 (OJ L 176, 27.06.2013, p 1–337).

§ 4.  The other systemically important institutions buffer requirement must be met both individually and at consolidated level (RT I, 05.12.2017, 12 – entry into force 01.01.2018).

§ 5.  Eesti Pank Governor’s decree No 10 of 1 December 2015 "Other Systemically Important Institutions" (RT I, 02.12.2015, 16) is repealed.

§ 6.  This decree enters into force on 1 August 2016.

This decree is established on the basis of section 86⁴⁸ (3) and (7) of the Credit Institutions Act.

§ 1.  Other systemically important institutions operating in Estonia in the meaning of section 86⁴⁸ of the Credit Institutions Act are:

1) Swedbank AS
2) AS SEB Pank
3) AS LHV Pank

[RT I, 05.12.2017, 12 - entry into force 01.01.2018]

  4) Luminor Bank AS
[RT I, 22.05.2018, 17 - entry into force 01.07.2018]

§ 2.  The credit institutions named in Point 1 must hold systemically important institution buffers at the following rates:

1) Swedbank AS: 2%
2) AS SEB Pank: 2%
3) AS LHV Pank: 2%

[RT I, 29.11.2022, 5 - entry into force 01.01.2023]

  4) Luminor Bank AS: 2%
[RT I, 22.05.2018, 17 - entry into force 01.07.2018]

§ 3.  The other systemically important institution buffer requirement is applied to the total risk exposure as calculated under Article 92 Section 3 of Regulation (EU) No 575/2013 of the European Parliament and of the Council of 26 June 2013 on prudential requirements for credit institutions and investment firms and amending Regulation (EU) No 648/2012 (OJ L 176, 27.06.2013, p 1-337).

§ 4.  The other systemically important institution buffer must be met individually and at a consolidated level. If the credit institution is part of a consolidation group, the requirement that is to be fulfilled on a consolidated basis must be fulfilled at the highest consolidation level in Estonia of that consolidation group.

[RT I, 29.11.2022, 5 - entry into force 01.01.2023]

§ 5.  [Omitted from this text].

§ 6.  This decree enters into force on 1 August 2016.