FI open to raising the countercyclical buffer rate in March

The next occasion on which FI will decide on the countercyclical buffer rate is in March. FI's Board of Directors decided on 18 January 2016 that the preparatory work for the decision shall focus on enabling an increase in the rate if such is deemed necessary. The rate is currently at 1.5 per cent.

FI shall set a countercyclical buffer rate each quarter. The buffer rate is set today via Finansinspektionen's regulations (FFFS 2015:5) regarding the countercyclical buffer rate.

When FI makes the assessment that the rate needs to be changed, new regulations will be decided. Prior to such a change, the proposed regulations will be submitted for consultation in the same manner as other regulations and general guidelines.

When FI makes the assessment that the rate does not need to be changed, the decision by FI's Board of Directors will also be published on FI's website.

The Board of Directors will also determine, ahead of each new decision, the focus of the work to prepare the next decision. This, too, is announced on FI's website.

FI sets the countercyclical buffer rate for Sweden on the basis of a qualitative assessment that takes quantitative factors into consideration, including the buffer guide.

FI continuously assesses the level of the buffer rate that should apply for the next quarter. FI's Board of Directors makes the assessment that there are grounds to consider raising the buffer rate. The preparatory work will therefore be focused on presenting in the near future a proposal that will make it possible to raise the rate in March if such action is deemed necessary. The proposed regulations and a consultation memorandum will be submitted for consultation in February.

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