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Macroprudential measures

Macroprudential measures aim to increase the financial system’s resilience to shocks by addressing possible systemic risks. Macroprudential authorities monitor the financial system, identifying risks and vulnerabilities, and take measures to ensure financial stability.

Under the SSM Regulation (EU Regulation No 1024/2013), the ECB is responsible for assessing macroprudential measures adopted by national authorities in the countries subject to ECB Banking Supervision.

If necessary to address risks to financial stability, the ECB has the power to apply more stringent measures than those adopted nationally. These powers are based on Article 5 of the SSM Regulation and Article 13(h) of the Rules of Procedure of the ECB (ECB/2014/1) (OJ L 95, 29.3.2014, p. 56)

Measures taken by macroprudential authorities in countries subject to ECB Banking Supervision since 1 April 2022

Last update: 1 July 2022

Countercyclical capital buffer

In April 2022, France decided to raise the CCyB from 0% to 0.5%. This increase will take effect from 7 April 2023.

In May 2022 the Netherlands decided to raise the CCyB from 0% to 1%. This increase will take effect from 25 May 2023.

In June 2022 Ireland decided to raise the CCyB from 0% to 0.5%. This increase will take effect from 15 June 2023.

In June 2022 Slovakia decided to raise the CCyB from 1% to 1.5%. This increase will take effect from 1 August 2023.

Sectoral systemic risk buffer

In April 2022 Belgium announced the introduction of a sectoral systemic risk buffer of 9% applicable to internal ratings-based (IRB) retail exposures secured by residential immovable property for which the collateral is located in Belgium. This replaces an earlier measure based on Article 458 of the Capital Requirements Regulation, which expired on 30 April 2022. The new buffer applies from 1 May 2022.

All implemented macroprudential measures that the ECB has been notified of in countries subject to ECB Banking Supervision

Below is a list of all the macroprudential measures that the ECB has been notified of and that have been implemented or publicly announced in countries subject to ECB Banking Supervision.

Overview of measures that the ECB has been notified of under Article 5 of the SSM Regulation last update: 14 July 2022

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