June 11, 2019 / 11:29 AM / a year ago

Slovak central bank raises countercyclical buffer rate

BRATISLAVA, June 11 (Reuters) - The Slovak central bank decided to raise its countercyclical capital buffer for banks by half a percentage point to 2.00%, valid from August 2020, officials said on Tuesday, a further step to contain high loan growth.

Vladimir Dvoracek, head of the central bank’s financial oversight department, said cyclical risks remained and that despite a certain slowdown in household loan growth, the lending rise remained “excessive”.

The countercyclical buffer rate is due to rise to 1.50% from 1.25% from Aug. 1 this year, which was decided in July 2018. The bank has maintained that rate at decisions since then. (Reporting by Tatiana Jancarikova, writing by Jason Hovet)

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