Recital 1

(1)In July 2018, the Basel Committee on Banking Supervision (BCBS) published a revised methodology for assessing global systemically important banks. That revised methodology introduced a new indicator to measure systemic importance, relating to the trading volume and which is included in the category that measures the substitutability of services or of the financial infrastructure provided by a banking group. The introduction of that new indicator has, however, no effect on the weight of that category, because the relative weight assigned to the new trading volume indicator is offset by a reduction, from 6,67 % to 3,33 %, in the relative weight of underwritten transactions in the debt and equity markets indicator. The category that measures the substitutability of services or of the financial infrastructure provided by a banking group thus retains its relative weight of 20 % in the overall score for each entity. The revised methodology also included insurance activities in the indicators-based measurement approach used to assess the systemic importance of banking groups. Those changes to the methodology for assessing global systemically important banks should be reflected in Commission Delegated Regulation (EU) No 1222/2014 ² .