On September 29, 2014, the European Banking Authority ("EBA") published indicators from 28 EU large firms in the form of a document containing tables and charts and a disclosure tool in Excel format. Under the CRR and the Capital Requirements Directive ("CRD IV"), national regulators are required to identify as global systemically important institutions ("G-SIIs") firms that present a higher risk to the global financial system. The identification of EU firms as G-SIIs will take place in January 2015 for the first time. The higher capital requirement will apply one year after the publication by national regulators of the results. The timeframe is intended to give relevant firms enough time to adjust to the new buffer requirements. The ITS setting out the uniform formats and date for the disclosure of the values used to identify G-SIIs under CRD IV was published in the Official Journal of the European Union on September 30, 2014 and will come into force on October 20, 2014. The ITS include a template for a firm to disclose the values of the indicators used for determining its score.
The EBA announcement is available at http://www.eba.europa.eu/-/eba-publishes-indicators-from-global-systemically-important-institutions-g-siis- and the ITS is available at: http://eur-lex.europa.eu/legal-content/EN/TXT/PDF/?uri=OJ:JOL_2014_284_R_0006&from=EN.
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