March 5, 2020 / 11:08 AM / a month ago

Czech central bank keeps counter-cyclical buffer for banks at 2.00%

PRAGUE, March 5 (Reuters) - The Czech National Bank (CNB) kept its counter-cyclical capital buffer (CCB) for banks’ capital reserves at 2.00%, the central bank said on Thursday.

In November, CNB said that given the position of domestic economy in the financial cycle, the rate “could be expected to remain stable in the near term”.

The bank is one of a few in Europe which have implemented the rate meant to preserve the banking sector against risks over the financial cycle.

CNB said it would comment on its decision on March 6.

The buffer now stands at 1.75% and it will raise to 2.00% as of July 1.

Reporting by Robert Muller

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