CBC maintains countercyclical buffer rate at 1%

09:41 - 21 December 2023

Financial Services

The Central Bank of Cyprus (CBC) has decided to maintain the countercyclical buffer (CCyB) rate at 1%, effective as of 2 June 2024.

It said in an announcement that in line with the provisions of the Macroprudential Oversight of Institutions Laws of 2015 to 2022, it deemed appropriate to maintain the CCyB rate at 1%, which was adopted in the CBC's previous decision dated 2 June 2023.

In accordance with the above decision as well as with prior decisions on the same matter, the countercyclical buffer rate that is effective as from 30 November 2023 is 0.5% and as from 2 June 2024 will increase further to 1%.

CBC maintains countercyclical buffer rate at 1%

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