FI open to raising the countercyclical buffer rate in September

The next occasion on which FI will decide on the countercyclical buffer rate is in September. FI's Director General has decided that the preparatory work for the decision shall focus on enabling an increase in the rate to 2.5 per cent if such is deemed necessary. The countercyclical buffer is currently 2.0 per cent.

FI shall set a countercyclical buffer rate each quarter. The buffer rate is set today via Finansinspektionen's regulations (FFFS 2016:5) 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.

FI sets the countercyclical buffer rate for Sweden taking into consideration qualitative and quantitative factors, such as how systemic risks and the resilience of the banking system have changed. FI assesses each quarter what the buffer rate should be moving forward. FI's Director General makes the assessment that there are grounds for raising the buffer rate. A proposal of the regulations and a consultation memorandum will be submitted in July. FI's Board of Directors will decide in September if the countercyclical buffer will be raised.

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