Financial stability and macroprudential policy

Recommendations of the European Systemic Risk Board followed by the Banco de España

Within its remit, the Banco de España can be the addressee of macroprudential recommendations issued by the European Systemic Risk Board (ESRB). On a case-by-case basis, the Banco de España assesses the necessary actions to ensure their compliance, as appropriate.

List of current ESRB recommendations concerning the Banco de España:

  • 2020
  • 2019
    • ESRB/2019/18 File PDF: Opens in a new window (484 KB). Recommendation of the ESRB, of 26 September 2019, on exchange and collection of information for macroprudential purposes on branches of credit institutions having their head in another Member State or in a third country
  • 2015
    • ESRB/2015/2 (*)Opens in a new window.  Recommendation of the ESRB, of 15 December 2015, on the assessment of cross-border effects of and voluntary reciprocity for macroprudential policy measures (*consolidated of subsequent amending recommendations)
    • ESRB/2015/1Opens in a new window.  Recommendation of the ESRB, of 11 December 2015, on recognising and setting countercyclical buffer rates for exposures to third countries
  • 2014
    • ESRB/2014/1Opens in a new window.  Recommendation of the ESRB, of 18 June 2014, on guidance for setting countercyclical buffer rates
  • 2012
    • ESRB/2012/2Opens in a new window.  Recommendation of the ESRB, of 20 December 2012, on funding of credit institutions (amended by Recommendation ESRB/2016/2Opens in a new window)
  • 2011
    • ESRB/2011/2Opens in a new window.  Recommendation of the ESRB, of 22 December 2011, on US dollar denominated funding of credit institutions
    • ESRB/2011/1Opens in a new window.  Recommendation of the ESRB, of 21 September 2011, on lending in foreign currencies