MNB leaves countercyclical capital buffer at 0%

MNB

The National Bank of Hungary (MNB) has left the rate of its countercyclical capital buffer (CCyB), established last year to mitigate the impact of future financial crises, at 0%, Hungarian news agency MTI reported.

“Compared to the previous quarterly review, despite the favorable processes observable in the credit market, there is no substantive change in the level and dynamics of cyclical systemic risks,” the MNB said in a statement.

“Foreseeably, no change is expected over the forthcoming one-year horizon, which may support the domestic lending activity of credit institutions,” the central bank added.

The countercyclical capital buffer is set at 0-2.5% of total risk-weighted assets each quarter in an MNB decree.

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