August 29, 2019 / 10:10 AM / 2 months ago

Czech central bank keeps countercyclical buffer rate at 2.00%

PRAGUE (Reuters) - The Czech National Bank (CNB) kept the countercyclical capital buffer (CCB) for banks’ capital reserves at 2.00% on Thursday, holding steady following an increase in May after which it said the likelihood of another rise had diminished.

The bank is among a handful in Europe that have applied the rate meant to safeguard the banking sector against risks over the financial cycle, especially during times of strong credit growth.

The CNB said it would comment on its decision on Sept 6.

The buffer now stands at 1.50% and will rise to 1.75% from January 2020 and to 2.00% from July next year.

Reporting by Robert Muller, editing by Jason Hovet

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