Recommendation FMSG/1/2018: guidance on applying the countercyclical capital buffer

In line with Article 23a para 1 Austrian Banking Act, the Financial Market Stability Board (FMSB) recommends that the Financial Market Authority (FMA) leave the countercyclical capital buffer (CCB) at a rate of 0% of risk-weighted assets from July 1, 2018. The main indicator guiding decisions on CCyB rates, the credit-to-GDP gap, is negative and, therefore, does not point to excessive credit growth.