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Macroprudential Commentary – December 2021

A pick-up in lending has been accompanied by rising imbalances

The countercyclical capital (CCyB) buffer remains at 1.0%

No CCyB rate increase is envisaged in the next quarter

Macroprudential Commentary – December 2021

Read about the following in the latest Macroprudential Commentary:
  • Financial market growth is increasingly robust, and there has been an acceleration in the credit and property markets that may lead to a build-up of imbalances.
  • Housing loans have continued to grow; the rate of decline in consumer credit has moderated.
  • Corporate loan growth has accelerated; investment loan growth has also picked up.
  • Firms are still being affected by rising input prices and supply chain disruptions.
  • Banks remain well capitalised. After falling sharply in 2020, their profits have increased strongly.
Also in this edition:
  • What has been the impact of rising energy prices and supply chain disruptions on exports and imports? (Box 1, page 5)
  • How do firms see today’s situation? (Supplemental charts, page 7)
Key indicators as at October 2021:
Annual growth in loans to households8.2%
Annual growth in housing loans10.8%
Annual growth in consumer credit-6.3%
Non-performing loan ratio for household loans2.1%
Growth in loans to non-financial corporations (NFCs)1.1%
Non-performing loan ratio for NFC loans3.0%