03/31/2021 | Press release | Distributed by Public on 03/31/2021 10:46
The countercyclical buffer rate to be applied as of 1 April 2021 will remain at 0% of the total risk exposure amount.
This decision was made by deliberation of the Board of Directors on 23 March 2021, having notified the European Central Bank, which did not object to the Banco de Portugal's proposal, and following consultation of the National Council of Financial Supervisors.
The countercyclical buffer rate applies to all credit risk exposures where the counterparty is the domestic private non-financial sector of credit institutions and investment firms in Portugal subject to the supervision of the Banco de Portugal or the European Central Bank (Single Supervisory Mechanism), and is reviewed on a quarterly basis.
The decision regarding the countercyclical buffer rate is published on the Banco de Portugal's website, jointly with the underlying analysis and indicators and the methodological document. The website also contains information on the countercyclical buffer rates applicable to exposures to European Union/European Economic Area Member States.