The article analyses regulatory reforms in the EU to the capital buffers for mitigating risks associated with institutions' systemic importance in the Capital Requirements Directive (CRD). The Directive includes a buffer for other relevant institutions (O-SIIs) and limits its size to a general cap and a specific cap for subsidiaries. However, the specific subsidiary cap may limit national authorities' ability to set a sufficient buffer for domestic institutions that are members of European banking groups to cover risks to the domestic market. It also may lead to a situation where two institutions of similar systemic importance could be subject to different O SII buffer rates because their owners are of different systemic importance and have different O-SII buffer rates in different EU jurisdictions. The amended CRD V increases the general and subsidiary cap for the O-SII reserve by one percentage point. However, the cap for subsidiary institutions remained in force, which limits the setting of capital buffers, especially for banking sectors with significant foreign ownership. These include mainly countries of the former Soviet-aligned Eastern Bloc. This paper outlines shortcomings of the subsidiary cap, argues for a revision of it to ensure level playing field in these capital buffers and quantifies the impact of the subsidiary cap according to the CRD IV and CRD V on the capital requirement applied to the Czech banking sector.

本文分析了欧盟对资本缓冲的监管改革，以减轻与资本要求指令 (CRD) 中机构系统重要性相关的风险。该指令包括对其他相关机构 (O-SII) 的缓冲，并将其规模限制为一般上限和子公司的特定上限。然而，具体的子公司上限可能会限制国家当局为欧洲银行集团成员的国内机构设置足够的缓冲以应对国内市场风险的能力。它还可能导致这样一种情况，即两个具有相似系统重要性的机构可能会受到不同的 O SII 缓冲率的影响，因为它们的所有者具有不同的系统重要性并且在不同的欧盟司法管辖区具有不同的 O-SII 缓冲率。修订后的 CRD V 将 O-SII 储备的一般和附属上限提高了一个百分点。然而，附属机构的上限仍然有效，这限制了资本缓冲的设置，特别是对于拥有大量外资的银行业。这些主要包括前苏联结盟的东方集团国家。本文概述了子公司上限的缺点，主张对其进行修订以确保这些资本缓冲中的公平竞争环境，并根据 CRD IV 和 CRD V 量化子公司上限对适用于捷克银行业的资本要求的影响. 特别是对于拥有大量外国所有权的银行部门。这些主要包括前苏联结盟的东方集团国家。本文概述了子公司上限的缺点，主张对其进行修订以确保这些资本缓冲中的公平竞争环境，并根据 CRD IV 和 CRD V 量化子公司上限对适用于捷克银行业的资本要求的影响. 特别是对于拥有大量外国所有权的银行部门。这些主要包括前苏联结盟的东方集团国家。本文概述了子公司上限的缺点，主张对其进行修订以确保这些资本缓冲中的公平竞争环境，并根据 CRD IV 和 CRD V 量化子公司上限对适用于捷克银行业的资本要求的影响.