BoG: Unchanged percentage of anti-cyclical security stock in the third quarter

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The Bank of Greece maintains unchanged the percentage of the anti-cyclical capital reserve for Greece for the third quarter of 2022 at “zero percent” (0%), with a effective date of July 1, 2022. This percentage was set for the first time in the first quarter of 2016 and remains zero since then.

In accordance with the Executive Committee Act 202/1 / 11.03.2022, which determines the implementation procedure and the methodology for determining the percentage of anti-cyclical capital stock, the Bank of Greece assesses quarterly the intensity of cyclical systemic risk and the adequacy of the percentage. capital stock for Greece, taking into account the standardized difference in appropriations to GDP, the safety stock guide and, mainly, additional indicators for the accumulation of cyclical systemic risk.

The safety stock guide, as defined in Recommendation ESRB / 2014/1 of the European Systemic Risk Board (ESRB), is “zero”, as the standard appropriation to GDP ratio remains negative from the third quarter of 2012 and, based on the latest available data, the fourth quarter of 2021 amounted to -17.7 percentage points.

The Bank of Greece is also examining some additional indicators for the creation and accumulation of cyclical systemic risk, related to credit developments, the private sector debt burden, the potential overestimation of real estate prices, the soundness of credit institutions, risk pricing. The analysis of the additional ratios confirms the estimate of the absence of excessive credit expansion and is consistent with the maintenance of the current level of the anti-cyclical capital stock (0%) for the third quarter of 2022.

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Source: Capital

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