Macroprudential measures

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

Under the SSM Regulation (Council Regulation (EU) 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 6 January 2024

Last update: 5 April 2024

Other systemically important institutions (O-SIIs) – capital buffers

In March 2024, Cyprus decided to recalibrate the O-SII buffers for three institutions, leading to a decrease in the buffer rate for one O-SII and an increase for two O-SIIs. The amendments will be implemented in two equal steps and will be fully phased in by 1 January 2026.

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.

Last update: 5 April 2024

Overview of measures that the ECB has been notified of under Article 5 of the SSM Regulation