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 13h of the Rules of Procedure of the ECB (ECB/2014/1), OJ L 95, 29.3.2014.
Measures taken by macroprudential authorities in countries subject to ECB Banking Supervision since 1 July 2021
last update: 14 October 2021
Countercyclical capital buffer
In September 2021, Bulgaria decided to raise the countercyclical capital buffer (CCyB) from 0.5% to 1%, starting from 1 October 2022.
Measures taken under Article 458 of the Capital Requirements Regulation
In September 2021, Estonia extended the period of application for the 15% risk weight floor on internal ratings based (IRB) mortgage exposures by two additional years until 30 September 2023.
In October 2021, the Netherlands decided to apply a risk weight floor measure on the mortgage loan portfolios of IRB banks, starting from 1 January 2022. For each exposure, a 12% risk weight is assigned to the portion of the loan not exceeding 55% of the collateral’s market value, and a 45% risk weight is assigned to the remaining portion of the loan. The initial implementation of this measure had been suspended following the outbreak of the coronavirus (COVID-19) pandemic.
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 October 2021