The Central Bank of Cyprus has named five "systemic banks."

The Central Bank of Cyprus has included five of the country's banks in the list of "Other Systemically Important Institutions" (O-SII).

According to the regulator's statement, the policy review is based on a series of statistical studies, including methodologies used by other central banks regarding the definition of capital buffer requirements for O-SII.

The following credit institutions have been included in the list:

• Bank of Cyprus
• Hellenic Bank
• Eurobank Cyprus
• AstroBank
• Alpha Bank Cyprus

It is also reported that the Central Bank of Cyprus has begun a comparative analysis of the domestic banking sector with similar characteristics of eurozone member countries.

Other Systemically Important Institutions (O-SII) are institutions that, due to their systemic importance, are more likely to pose risks to financial stability. By maximizing private benefits through rational decisions, these institutions can introduce negative externalities into the system and contribute to market distortions. The list of institutions included in this section complies with the EBA's Guidelines on the criteria for assessing Other Systemically Important Institutions (O-SII).