French countercyclical buffer lowest in EU
0.25% surcharge the lowest of nine CCyBs across member states
France introduced the lowest countercyclical capital buffer (CCyB) among European Union member states this week, though history suggests it may ratchet higher in coming years.
On June 11, the French High Council for Financial Stability (HCFS) raised the CCyB to 0.25% of French risk-weighted assets (RWAs). This was the first time the buffer was raised from zero since its implementation in France in December 2015. The additional capital requirement will apply from 2019.
France became the ninth
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