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Consultation on countercyclical buffers

Consultation on countercyclical buffers

Policy field(s)
Internal market

Target group(s)
All citizens and organisations are welcome to contribute to this consultation. Contributions are particularly sought from market participants, national governments and national competent authorities.

Period of consultation
From 22/10/2010 to 19/11/2010 - closed.

Objective of the consultation

The services of the European Commission launch a public consultation to seek stakeholders' views on possible measures to mitigate fluctuations in the financial system by introducing counter-cyclical capital buffers for banks. Counter-cyclical capital buffers are variable capital reserves that banks would have to accumulate during economically good times. Banks could draw upon these reserves to continue lending and borrowing when economic conditions worsen. A regime for countercyclical capital buffers could also help to moderate the build up of excessive levels of credit in the financial system by raising the cost of credit, and so dampening demand, where there is evidence that levels are growing above established benchmarks.

How to submit your contribution

The participation period to this consultation is now over.

Received contributions will be published on the Internet. It is important to read the specific privacy statement attached to this consultation for information on how your personal data and contribution will be dealt with.

View the consultation document

Background information

Contact details
Responsible service:DG Internal Market and Services, Banking and Financial Conglomerates Unit
Postal address:
European Commission, SPA2 4/29, B–1049 Brussels

Reason why the consultation period is less than 8 weeks
This is a second consultation on capital buffers. Capital buffers were already consulted in the Commissions 2010 February consultation. The Commission shall be able to make a proposal in the first quarter of 2011.

Answers to the consultation

See the contributions received
For the sake of transparency, organisations have been invited to publish information by registering into the Register of interested representatives and undertaking to comply with its code of conduct. Contributions of organisations which are not registered are published separately.

Results of consultation and next steps
The result of this work will be taken into account in the Commission’s deliberations with a view to the adoption in the first half of 2011 of a Communication on electronic commerce, including on the impact of the Electronic Commerce Directive .