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    ESRB Updates List of Countercyclical Capital Buffers in EU

    September 26, 2018

    ESRB updated table showing the countercyclical capital buffer (CCyB) rates applicable in the countries in the Eurosystem. In September, the CCyB information has been updated for Austria, Denmark, Estonia, Greece, Italy, Norway, and Sweden. The table also contains the CCyB rates that have been announced, but not yet implemented, by the designated authorities.

    As part of the information accompanying the announcement, designated authorities must notify ESRB about each quarterly setting of CCyB rates. The countercyclical capital buffer (CCyB) is part of a set of macro-prudential instruments, designed to help counter pro-cyclicality in the financial system. Capital should be accumulated when cyclical systemic risk is judged to be increasing, creating buffers that increase the resilience of the banking sector during periods of stress when losses materialize. This will help maintain the supply of credit and dampen the downswing of the financial cycle. A CCyB can also help dampen excessive credit growth during the upswing of the financial cycle.

     

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    Keywords: Europe, EU, Banking, CCyB, Capital Buffer, Macro-prudential Instrument, Systemic Risk, ESRB

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