To address systemic risk and interconnectedness under the Basel 3 reform agenda, the BSP adopted the framework for dealing with Domestic Systemically Important Banks (D-SIBs) under Circular No. 856 dated 29 October 2014. The Circular provides the guidelines for determining banks which are deemed systemically important within the domestic banking industry. List of the D-SIBs will be updated every year and each bank will be notified of its classification. Identified banks shall be required to maintain additional Common Equity Tier 1 (CET 1) based on the degree of classification as defined under BSP Circular No. 781 dated 15 January 2013 and Circular No. 822 dated 13 December 2013.
Originating Circular of the Basel III Framework for Dealing with DSIBs
Other Amendments to the Framework