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Macroprudential measures

Macroprudential measures aim to increase the financial system’s resilience to shocks by addressing identified systemic risks. Macroprudential authorities monitor the financial system, identifying risks and vulnerabilities, and implement measures to ensure financial stability.

Under the SSM Regulation (Council Regulation (EU) No 1024/2013), the ECB is responsible for assessing macroprudential measures adopted by national authorities in the countries subject to ECB Banking Supervision.

If necessary to address risks to financial stability, the ECB has the power to apply more stringent measures than those adopted nationally. These powers are based on Article 5 of the SSM Regulation and Article 13(h) of the Rules of Procedure of the ECB (ECB/2014/1) (OJ L 95, 29.3.2014, p. 56)

Measures taken by macroprudential authorities in countries subject to ECB Banking Supervision since 6 January 2023

Last update: 27 April 2023

Systemic risk buffer

In March 2023 Malta decided to introduce a sectoral systemic risk buffer applicable to all institutions for all retail exposures to natural persons that are secured by residential property located in Malta. As of 30 September 2023, a buffer rate of 1% will be applicable and as of 31 March 2024 a buffer rate of 1.5% will be applicable. 

In March 2023 Finland decided to introduce a systemic risk buffer of 1% applicable to all exposures of all credit institutions. The buffer rate will take effect from 1 April 2024.  

Other systemically important institutions (O-SIIs) – capital buffers

In January 2023 Malta concluded its annual reassessment of O-SII buffers, leading to an increase in the buffer rate for one institution and a revision in the phasing-in period for another institution.

All implemented macroprudential measures that the ECB has been notified of in countries subject to ECB Banking Supervision

Below is a list of all the macroprudential measures that the ECB has been notified of and that have been implemented or publicly announced in countries subject to ECB Banking Supervision.

Overview of measures that the ECB has been notified of under Article 5 of the SSM Regulation last update: 27 April 2023

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