National policy
National macroprudential institutional framework
National macroprudential authorities have been established following the issuance of ESRB Recommendation on the macroprudential mandate of national authorities (ESRB/2011/3). In accordance with the Capital Requirements Directive (CRD V), countries of the European Economic Area (EEA) are also required to have national designated authorities. The ESRB periodically publishes a list of these national macroprudential authorities and national designated authorities.
List of national macroprudential authorities and national designated authorities in EEA countriesMacroprudential measures
National authorities are required to notify the ESRB of their macroprudential measures in accordance with the Capital Requirements Directive (CRD V), the Capital Requirements Regulation (CRR II) and various ESRB recommendations.
The ESRB periodically publishes two overviews of macroprudential measures.
The first is the “Overview of national macroprudential measures”, which includes all types of current and past measures. The second is the “Overview of national capital-based measures”, which includes only currently active capital-based measures that apply to the systemically important institutions in EEA countries.
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Overview of national macroprudential measures
(last updated: 25 February 2025 ).
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Overview of national capital-based measures
(last updated: 22 April 2025 ).
- The ESRB Macroprudential Measures Database
Notification templates
National authorities should use the common ESRB/European Central Bank/European Banking Authority notification templates when notifying the ESRB of macroprudential measures (including reciprocating measures).
Countercyclical capital buffer
The countercyclical capital buffer (CCyB) is designed to help counter procyclicality in the financial system.
Countercyclical capital bufferSystemically important institutions
Global systemically important institutions (G-SIIs) and, subject to national discretion, other systemically important institutions (O-SIIs) must fulfil supplementary requirements concerning the amount of Common Equity Tier 1 capital they are required to hold as a buffer.
Systemically important institutionsSystemic risk buffer
The systemic risk buffer (SyRB) addresses systemic risks that are not covered by the Capital Requirements Regulation or by the CCyB or the G-SII/O-SII buffers.
Systemic risk bufferRisk weight measures
These measures allow stricter risk weight requirements to be applied and address risks related to exposures secured by mortgages on residential or commercial immovable property.
Risk weight measureCapital conservation buffer
The capital conservation buffer (CCoB) amounts to 2.5% of a bank’s total risk exposure. It must be made up of Common Equity Tier 1 capital.
Capital conservation bufferOther measures
Other macroprudential measures include stricter national measures taken under Article 458 of the Capital Requirements Regulation, as well as further macroprudential measures that are not harmonised by Union law.
Other macroprudential measuresReciprocation of measures
The reciprocation of macroprudential measures enhances the effectiveness and consistency of macroprudential policy in the EU. It also contributes to a level playing field in the Single Market.
Reciprocation of measures