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SOFIA (Bulgaria), June 12 (SeeNews) - Bulgaria's Financial Supervision Commission said that it has identified five local investment intermediaries as other systemically important institutions (O-SIIs).
The five brokerages identified are Trading 212, Deltastock, Euro-Finance, Elana Trading, and First Financial Brokerage House, the financial regulator said in a statement on Tuesday.
O-SIIs are subject to an annual review by the FSC, and also might be asked to keep an additional capital buffer equal to 2% of their total risk exposures. The results of the review can then be forwarded to the European Commission, European Banking Authority and European Systemic Risk Board.
The additional buffers aim to address the potential negative effects that these institutions may have on the domestic financial system.
The O-SIIs were selected in accordance with the European Banking Authority's guidance.