CSSF Maintains CCyB at 0.5%, Conducts Survey on Sustainable Finance
The Financial Sector Supervisory Commission of Luxembourg (CSSF) decided to maintain the countercyclical capital buffer (CCyB) rate for banks at 0.50%, for the fourth quarter of 2022. Additionally, CSSF along with, the Fondation ABBL pour l’éducation financière (ABBL Foundation) and the Luxembourg Sustainable Finance Initiative (LSFI) conducted a survey to assess the perception, knowledge, and interest of Luxembourgian households in the development of sustainable finance.
The survey on sustainable finance was conducted from mid-April to May 2022 among a sample of 1,011 individuals living in Luxembourg. The survey investigated favorable opinion about the possible impact of the financial sector, along with the role of central banks, in investment in sustainable products. Majority of the interviewed people deemed that the financial sector can have a positive impact on the development of renewable energy, local communities, or the environment and climate. Going forward, CSSF plans to assist the industry in the implementation of a regulatory framework adapted to the deployment of sustainable finance. ABBL Foundation will continue to inform and raise awareness through tools such as educational videos and training modules in high schools to explain sustainable finance. Meanwhile, LSFI plans to continue to offer courses to raise awareness and intensify its activities aimed at professional and private investors.
Related Links
- Notification on CCyB Rate (in French)
- Regulation on CCyB Rate (in French)
- Press Release on Survey on Sustainable Finance
Keywords: Europe, Luxembourg, Banking, CCyB, Regulatory Capital, Basel, Sustainable Finance, ESG, Climate Change Risk, Environmental Risk, CSSF
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