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Macroprudential Commentary

An overview of current trends with an emphasis on cyclical risks. It supports decisions on the setting of the countercyclical capital buffer rate.

Publications, Macroprudential Commentary

Macroprudential Commentary – September 2026

The financial cycle remains flat. Its upturn is being held back by persistent uncertainty and weaker economic growth. Demand for loans is holding steady despite a moderate rise in interest rates, and housing prices continue to increase. Banks are well capitalised and profitable. The countercyclical capital buffer (CCyB) rate remains unchanged.

  • Macroprudential Commentary – June 2026

    The financial cycle is no longer in an upswing. Uncertainty and elevated risks persist, holding back a renewed upturn. Banks nevertheless continue to be resilient and profitable. The countercyclical capital buffer (CCyB) rate remains unchanged.