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 14 April 2023

Last update: 20 July 2023

Countercyclical capital buffer

In May 2023 Netherlands decided to increase the CCyB from 1% to 2%. This increase will take effect from 31 May 2024. 

In June 2023 Cyprus decided to increase the CCyB from 0.5% (effective from 30 November 2023) to 1%. This increase will take effect from 02 June 2024.

In June 2023 Ireland decided to increase the CCyB from 1% (effective from 24 November 2023) to 1.5%. This increase will take effect from 07 June 2024.

In June 2023 Croatia decided to increase the CCyB from 1% (effective from 31 December 2023) to 1.5%. This effect will take effect from 30 June 2024.

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

In May 2023 Netherlands concluded its annual reassessment of O-SII buffers, leading to a decrease in the buffer rates for all of the five O-SIIs. The amendments will be fully phased-in by 31 May 2024.

Measures taken under Article 458 of the Capital Requirements Regulation

In July 2023 Estonia extended the period of application of the 15% risk weight floor on internal ratings based (IRB) mortgage exposures by two additional years until 30 September 2025.

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: 20/07/2023