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COREP Guidance COREP Terms & Definitions Back to Glossary CONTACT US Current UK Countercyclical Capital Buffer Rate (CCyB)

What is the Current UK Countercyclical Capital Buffer Rate?


11 July 2019

Current UK CCyB Rate

The Financial Planning Committee (FPC) of the Bank of England (BOE) increased the UK Countercyclical Capital Buffer rate (CCyB) from 0.5% to 1% of banks’ UK exposures on 28 November 2018.

Thus the current UK countercyclical capital buffer rate is 1%.

This was the second increase to the CCyB during 2018 after the FPC implemented an increase from 0% to 0.5% on 27 June 2018.

Current UK CCyB Maintained at 1%

The FPC has today confirmed it will be maintaining the Current UK CCyB at 1%, stating:

“The FPC stands ready to move the UK countercyclical capital buffer (CCyB) rate in either direction as economic conditions and the overall risk environment evolve. If a major economic stress were to materialise, the FPC is prepared to cut the UK CCyB rate, as it did in July 2016. In the absence of such a stress, the FPC remains vigilant to developments, particularly in the domestic credit environment.”

Source: FPC 11July 2019

See also:

The Countercyclical Capital Buffer is capital a firm will have to set aside in relation to jurisdictional exposures

The new capital buffers - the Countercyclical Buffer and the Capital Conservation Buffer - took effect from 1st January 2016

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The FPC is maintaining the UK Countercyclical Capital Buffer Rate at 1%

FPC 11 July 2019