The CNB has classified four Czech banks as systemically important and will require them to have 1-3% higher capital reserves than other banks, beginning next year. These four banks, which the CNB did not name, are considered so large that their failure would pose a risk to the financial system and the economy. /could be slightly negative although expected. We think that systematically important banks include also Komercni and Ceska Sporitelna (Erste). Higher buffer for capital may limit future dividend payouts but we think KB (4520 CZK, -0,11%) will still be able to keep payout ratio of 60-70%