ESRB publishes recommendation on guidance for setting countercyclical buffer rates
The ESRB has today published a Recommendation (ESRB/2014/1) on guidance to EU Member States for setting countercyclical buffer rates. The guidance, which was approved at the 18 June 2014 meeting of the ESRB General Board, is required under EU legislation. It serves the purpose of establishing a common approach to setting the countercyclical capital buffer across Europe.
The ESRB has today also published an Occasional Paper entitled “Operationalising the countercyclical capital buffer: indicator selection, threshold identification and calibration options”. The paper describes analysis that has informed Recommendation ESRB 2014/1.
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