Regulatory Alerts2022-06-02
Added · Updated
Recommendation of the European Systemic Risk Board amending Recommendation ESRB/2015/2 on macroprudential policy measures
The European Systemic Risk Board amends Recommendation ESRB/2015/2 to recommend the reciprocation of specific macroprudential measures adopted by Belgium, Germany, France, Lithuania, Luxembourg, the Netherlands, Norway, and Sweden. The amendment updates the list of measures in Section 1 and replaces the Annex with detailed descriptions, reciprocation scopes, and materiality thresholds for each jurisdiction. For instance, it specifies a 2% systemic risk buffer for German residential real estate exposures with a EUR 10 billion materiality threshold, and a 5% large exposure limit tightening for French highly-indebted corporations. Relevant authorities are recommended to apply these measures or equivalent alternatives by specified deadlines, such as 1 February 2023 for the German measure.