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Statement from the NBS Bank Board’s 17th meeting of 2022

On 27 September the Bank Board of Národná banka Slovenska held its 17th meeting of 2022, chaired by NBS Governor Peter Kažimír.

The Bank Board took note of the Bank’s Autumn 2022 Economic and Monetary Developments report, which was later presented at a press conference and published on the Bank’s website.

The Bank Board assessed the extent of risks of a cyclical nature and approved the Bank’s September 2022 Macroprudential Commentary.

The credit market is experiencing a strong upswing. Loans to households have long been growing strongly, and now so too are loans to firms. We expect that the current environment of rising interest rates, increasing living costs, and elevated uncertainty will act as a drag on loan demand in the coming period. Banks, however, are in a sufficiently sound position to cope with the potential losses associated with current risks.

In this context, there is no need at present to adjust the countercyclical capital buffer (CCyB) rate.

At the same time, the Bank continues to closely monitor risks to the Slovak banking sector. In the event of risks materialising and having an adverse impact on the financial sector, the Bank stands ready to reduce the CCyB rate to the extent necessary, so as to provide banks with leeway to cover potential excessive losses arising from these risks.

National Bank of Slovakia
Communications Section
Imricha Karvaša 1, 813 25 Bratislava

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