Regulatory Alerts2025-11-04
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Recommendation of the European Systemic Risk Board of 4 November 2025 amending Recommendation ESRB/2015/2 on the assessment of cross-border effects of and voluntary reciprocity for macroprudential policy measures (ESRB/2025/10)
The European Systemic Risk Board amends Recommendation ESRB/2015/2 to recommend the reciprocation of Austria's 1% sectoral systemic risk buffer for exposures to non-financial corporations in the construction and real estate sectors. Competent authorities in other Member States are advised to apply this buffer on a consolidated, sub-consolidated, and individual basis, subject to an institution-specific materiality threshold of EUR 100 million. A standard three-month transition period applies for the implementation of these reciprocating measures following publication in the Official Journal.
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