Identification for 2027 of other systemically important institutions authorized to operate in Italy

Banca d'Italia has identified the UniCredit, Intesa Sanpaolo, Monte dei Paschi di Siena, Banco BPM, BPER Banca, and ICCREA banking groups as other systemically important institutions (O-SIIs) authorized to operate in Italy for 2027.

Ongoing merger operations involving some Italian and foreign banking groups that had not been completed when the administrative procedures were initiated are not taken into account in the identification process. Should these operations have a material effect on the systemic importance of the Italian groups, Banca d'Italia may consider starting new administrative procedures to take account of them.

As of 1 January 2027, UniCredit, Intesa Sanpaolo, Monte dei Paschi di Siena, Banco BPM, BPER Banca, and ICCREA will have to maintain an O-SII buffer of 1.25 per cent, 1.25 per cent, 0.50 per cent, 0.50 per cent, 0.50 per cent, and 0.25 per cent, respectively, of their total risk-weighted exposure (see Table 1).

Table 1

The decision was taken pursuant to Banca d'Italia's Circular No. 285/2013 (prudential regulations for banks), which implements Directive 2013/36/EU and specifies the criteria on which the methodology for identifying O-SIIs is based. The assessment was conducted in accordance with the European Banking Authority Guidelines (EBA/GL/2014/10), which set out the criteria and data required to identify O-SIIs in EU jurisdictions.

The assessment covered all banking groups and stand-alone banks operating in Italy. The identification considered, for each bank/banking group, the four categories established by the EBA Guidelines, i.e. size, importance for the Italian economy, complexity and interconnectedness with the financial system.

Considering the data as at 31 December 2025, the overall score that indicates the domestic systemic importance of UniCredit, Intesa Sanpaolo, Monte dei Paschi di Siena, Banco BPM, BPER Banca and ICCREA is above the threshold of 300 basis points that Banca d'Italia uses to identify O-SIIs, in compliance with the EBA Guidelines (see Table 2).

table 2

The scheme used to support the calibration of the O-SII buffer is the one defined in 2023, which consists of eight buckets of systemic importance; each bucket is associated with a higher buffer (see Table 3).

table 3

Pursuant to the regulations, the identification of O-SIIs and the level of the O-SII buffers will be reviewed at least once a year.