Macroprudential decision: FIN-FSA does not impose countercyclical capital buffer requirement on banks
The Board of the Financial Supervisory Authority (FIN-FSA) today decided not to impose a countercyclical capital buffer requirement on banks, nor to otherwise tighten the macroprudential policy that affects credit cycles.
The decision was made on the basis of an overall assessment, according to which the credit markets are not overheated, and therefore it was not considered appropriate to adopt a countercyclical capital buffer requirement or other macroprudential instruments for containing credit cycles.
The Board of FIN-FSA made its decision upon a proposal by the Director General of FIN-FSA and after consultation with the Bank of Finland, the Ministry of Finance and the Ministry of Social Affairs and Health. All the parties involved were unanimously behind the decision. In accordance with the regulations governing the Single Supervisory Mechanism, the European Central Bank was notified of the decision and offered no objections to the decision in the regulated advance consultation.
For further information, please contact
- Pentti Hakkarainen, Chairman of the Board of the Financial Supervisory Authority, tel. +358 10 831 2002.
- Board decision (pdf)
- Decision proposition by the Director General of FIN-FSA (in Finnish, pdf)
- Opinions (in Finnish, pdf)