The CNB adopted a decision on the increase of the countercyclical buffer rate from the currently announced 0.5% to 1%, to be applied as of 31 December 2023.

Published: 19/12/2022

Amid steady financial upturn and the associated increase in cyclical systemic risks, the decision was adopted to ensure a timely allocation of additional capital and thus enhance the resilience of banks in the event of adverse economic and financial scenarios materialising.

In the environment where the economic outlook deterioration has not yet started to affect credit institutions’ profitability and level of capitalisation, and where credit institutions overall maintain considerable surplus capital, higher capital requirements are not expected to adversely impact the costs and availability of bank credit.

As the designated authority, the CNB will continue to monitor regularly the economic and financial developments and the further evolution of systemic risks, so as to be able to adjust in time the countercyclical buffer rate or apply other macroprudential measures within its powers, as appropriate.