Regulatory Alerts2024-06-11
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Recommendation of the European Systemic Risk Board of 11 June 2024 amending Recommendation ESRB/2015/2 on the assessment of cross-border effects of and voluntary reciprocity for macroprudential policy measures (ESRB/2024/2)
The European Systemic Risk Board amends Recommendation ESRB/2015/2 to recommend the voluntary reciprocation of Italy's systemic risk buffer, which imposes a 0.5% rate on credit and counterparty risk exposures located in Italy from 31 December 2024 to 29 June 2025, increasing to 1% from 30 June 2025. Competent authorities in other Member States are recommended to apply this measure on both an individual and consolidated basis to credit institutions authorized in their jurisdictions. A recommended institution-specific materiality threshold of EUR 25 billion is established, allowing authorities to exempt institutions whose relevant exposures in Italy do not exceed this amount.
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