At 1%, the Central Bank of Cyprus (CBC) the percentage of the countercyclical buffer with an implementation date of June 2, 2024.
In its announcement, the CBC notes that in accordance with the Laws on Macroprudential Supervision of Institutions from 2015 to 2022, “it deemed it appropriate to maintain the rate of the countercyclical buffer (CCyB) at 1.0%, with an implementation date of June 2, 2024, a rate which was adopted based on the last decision of the CBC dated June 2, 2023”.
“On the basis of the above decision as well as the previous decisions on the same subject, the percentage of the countercyclical buffer applied from November 30, 2023 is 0.5% and from June 2, 2024 it further increases to 1.0%”, refers.