The Council can recommend the activation of the systemic buffer, if the Council finds that there are systemic risks not addressed by other macroprudential tools.
It is the Minister of Industry, Business and Financial Affairs that can activate the systemic risk buffer, and either comply with a recommendation by the Council or explain why the recommendation is not followed.
The Systemic Risk Council (‘the Council’) has on 3 October 2023 recommended to the Minister for Industry, Business and Financial Affairs to activate a sector-specific systemic risk buffer for exposures to real estate companies at a rate of 7 percent, applicable from 30 June 2024.
See below for the Council's latest statements on the systemic buffer.