ECB opines on Basel countercyclical buffer
The European Central Bank (ECB) has supported the Basel Committee's proposal to use the credit-to-GDP (gross domestic product) ratio as starting point for triggering countercyclical buffers, but cautioned against using the ratio in an overly mechanistic way.
In a document published on its website on Monday, but which was dated Friday, the ECB said the credit-to-GDP ratio was an "appropriate starting reference point" as a guide to calibrating countercyclical capital buffers but that tests
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