Consultation reciprocation German macroprudential systemic risk buffer

Decision of De Nederlandsche Bank N.V. of XXX 2025 amending the Decision on recognition of the 2% German systemic risk buffer 2022.

De Nederlandsche Bank N.V.;

After public consultation;

Having regard to the Financial Supervision Act (Wet op het financieel toezicht), in particular Article 3:62a;

Having regard to the Prudential Rules Decision Wft (Besluit prudentiële regels Wft), in particular Article 105, first paragraph, item d, and Article 105e;

Having regard to the Regulation on specific provisions of CRD and CRR (Regeling specifieke bepalingen CRD en CRR), in particular Article 2:3, first paragraph;

Having regard to Directive 2013/36/EU of the European Parliament and of the Council of 26 June 2013 on the access to the activity of credit institutions and the prudential supervision of credit institutions and investment firms, amending Directive 2002/87/EG and repealing Directives 2006/48/EG and 2006/49/EG; in particular Article 134;

Decides:

ARTICLE I
The Decision on recognition of the 2% German systemic risk buffer 2022 is amended as follows:

A
In Article 2, “has a systemic risk buffer of 2% available for those exposures, calculated in accordance with Article 133, second paragraph, of the CRD.” is replaced by “has a systemic risk buffer of 1% calculated in accordance with Article 133, second paragraph, of the CRD available for those exposures, on an individual, sub-consolidated and consolidated basis, as applicable in accordance with Part One, Title II, of the CRR.”.

B
In Article 4, “2022” is replaced by “2025”.

ARTICLE II Entry into force
This decision enters into force on the first day of the month following its publication in the Staatscourant.
This decision will be published in the Staatscourant with the explanatory notes.

Amsterdam, xxx 2025

De Nederlandsche Bank N.V.
S.J. Maijoor,
Director

Explanatory notes
In accordance with recommendations of the European Systemic Risk Board (ESRB), DNB has reciprocated the systemic risk buffer of 2% established by the German financial supervisor, the Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin). 1 BaFin reduced this buffer to 1% as of 1 May 2025.2 Recently, the European Banking Authority (EBA) confirmed in a Q&A3 that the text of Article 134, first paragraph, of the CRD must be read in conjunction with Article 133, fourth paragraph, of the CRD. Accordingly, the competent authority of another Member State may recognize a systemic risk buffer and decide whether the recognized systemic risk buffer will apply on an individual, sub-consolidated and/or consolidated basis. A decision to recognize a systemic risk buffer at the consolidated level will result in all relevant exposures being taken into account (also for the calculation of the materiality threshold), including relevant exposures of subsidiaries established in the Member State that has established the systemic risk buffer. DNB has the starting point that it reciprocates macroprudential measures of other Member States in principle if the ESRB recommends this.4 If the ESRB recommends applying a systemic risk buffer on an individual, sub-consolidated and consolidated basis, DNB has the starting point that it also follows this recommendation.5 The ESRB recommendation aims at the reciprocal application of the German systemic risk buffer on an individual, sub-consolidated and consolidated basis.6 With this decision, DNB recognizes the amended systemic risk buffer and applies it on an individual, sub-consolidated and consolidated basis to institutions in the Netherlands that have incurred relevant exposures, as described in Article 2. The concrete application per institution depends on how Part One, Title II of the CRR applies to that institution.

1 wetten.nl - Regulation - Decision on recognition of 2% German systemic risk buffer 2022 - BWBR0047799 2 Recommendation of the European Systemic Risk Board of 27 June 2025 amending Recommendation ESRB/2015/2 on the assessment of cross-border effects of and voluntary reciprocity for macroprudential policy measures (ESRB/2025/4) 3 See 2024_7242 Application of recognised SyRB on a consolidated basis | European Banking Authority. 4 See https://www.dnb.nl/voor-de-sector/open-boek-toezicht/sectoren/banken/prudentieel-toezicht/factsheet/reciprocated-foreign-macroprudential-measures/. 5 See https://www.dnb.nl/voor-de-sector/open-boek-toezicht/sectoren/banken/prudentieel-toezicht/factsheet/reciprocated-foreign-macroprudential-measures/. 6 See Recommendation of the European Systemic Risk Board of 27 June 2025 amending Recommendation ESRB/2015/2 on the assessment of cross-border effects of and voluntary reciprocity for macroprudential policy measures (ESRB/2025/4)