Europe’s countercyclical buffers buck recession trends

Almost half of EBU’s members have set out CCyB hikes; five plan two or more before mid-2023

As an economic downturn risks tipping Europe into outright recession, several of the continent’s national regulators plan to hike countercyclical capital buffers (CCyB) through the next 11 months – with countries outside the single currency moving the most aggressively.

The CCyB is designed to be hiked when the economy is running hot, pushing banks to build up capital to continue to provide credit to clients during a slowdown. Across most of the European Banking Union (EBU), the buffer was

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