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

Passed 30.05.2016 No. 7

This decree is established on the basis of subsections 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

§ 2.  The credit institutions named in § 1 must hold other systemically important institutions buffer at the following rates:
1) Swedbank AS: 2%
2) AS SEB Pank: 2%

§ 3.  The other systemically important institutions buffer requirement is applied to the total risk exposure as calculated in accordance with Article 92(3) of the 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, pp 1-337).

§ 4.  The other systemically important institutions buffer must be met on an individual and a sub-consolidated basis.

§ 5.  The Decree of the Governor of Eesti Pank No 10 of 1 December 2015 “Other Systemically Important Institutions” (RT I, 02.12.2015, 16) is repealed.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.