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Macroprudential Bulletin

Our Macroprudential Bulletin provides insight into the work we are currently doing in the field of macroprudential policy. Our goal is to raise awareness of macroprudential policy issues in the euro area by making our ongoing work and thinking in this field more transparent, and to encourage broader discussion on these key issues.

We aren’t trying to be transparent about our work just for the sake of it. This is also an opportunity to invite you to share your views with us by sending your feedback to You can also send us an email if you want to be notified about future issues of the Macroprudential Bulletin.

April 2023

Issue 21

Ensuring effective capital buffers

Banks need to build capital buffers when the economy is strong so they can support it in bad times. Our latest Macroprudential Bulletin explains why a positive neutral rate of the countercyclical capital buffer and a more harmonised approach in setting it are key to ensuring buffers are effective.

Read more about countercyclical capital buffers

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