Recommendation FMSG/1/2020: guidance on applying the countercyclical buffer

23rd meeting, March 10, 2020

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 July 1, 2020. The main indicator guiding decisions on CCyB rates, which reflects credit volume relative to gross domestic product, remains negative and, therefore, does not point to excessive credit growth.