Recommendation FMSG/5/2018: guidance on applying the countercyclical buffer

In line with Article 23a para 1 of the Austrian Banking Act, the Financial Market Stability Board (FMSB) recommends that the Financial Market Authority (FMA) leave the countercyclical capital buffer (CCyB) at a rate of 0% of risk-weighted assets from January 1, 2019. The main indicator guiding decisions on CCyB rates, which reflects credit volume relative to gross domestic product, is negative and, therefore, does not point to excessive credit growth.