Governing Council statement on macroprudential policies : 28 June 2024

The Governing Council of the European Central Bank (ECB) is releasing the following statement following the meeting of its Macroprudential Forum on 19 June 2024. Since the Governing Council statement issued in November 2022, many countries participating in European banking supervision have continued with the implementation or adjustment of their capital-based and/or borrower-based macroprudential measures. Specifically, several authorities have increased releasable capital buffer requirements (i.e. countercyclical capital buffers and systemic risk buffers) to address relevant vulnerabilities and to enhance their capacity to respond to adverse shocks should they materialise. In addition, authorities have implemented or maintained borrower-based measures, primarily with the aim of ensuring sound lending standards in mortgage markets. Currently, 15 countries participating in European banking supervision have announced or have implemented a positive rate for the countercyclical capital buffer, 12 countries have announced or have implemented a positive rate for the (sectoral) systemic risk buffer, and 16 countries have applied some form of borrower-based measures.