Recommendation FMSG/3/2019: guidance on applying the countercyclical buffer

At its 21st meeting on September 9, 2019, the Financial Market Stability Board (FMSB) discussed the effectiveness of its guidance on sustainable real estate financing and the availability of data on commercial real estate, renewed its recommendation regarding the buffer for other systemically important institutions (O-SII buffer) and recommended that the countercyclical capital buffer (CCyB) be kept at 0% also in the fourth quarter of 2019.