Regulatory Alerts2023-12-08
Added · Updated
Recommendation of the European Systemic Risk Board of 8 December 2023 amending Recommendation ESRB/2015/2 on the assessment of cross-border effects of and voluntary reciprocity for macroprudential policy measures (ESRB/2023/13)
The European Systemic Risk Board amends Recommendation ESRB/2015/2 to include specific macroprudential measures from Belgium, Germany, Lithuania, Luxembourg, the Netherlands, Norway, Sweden, Portugal, and Denmark in the list of measures recommended for voluntary reciprocation. The amendment specifies buffer rates and limits, such as a 4% sectoral systemic risk buffer for Portugal and a 7% rate for Denmark, along with associated materiality thresholds like EUR 1 billion for Portugal and EUR 200 million for Denmark. Relevant national authorities are recommended to reciprocate these measures to prevent cross-border leakages and regulatory arbitrage.
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