Published : 2022-02-04

Macroprudential capital requirements in the European Union during the COVID-19 crisis

Abstract

The article tackles the issue of macroprudential policy in the European Union during the Covid-19 pandemic, from the end of 2019 to mid-2021. The main purpose of the analysis was to compare changes in the restrictiveness of macroprudential requirements (capital buffers) using various restrictiveness measures (capital requirement, excess capital buffer, bank lending capacity). Using quantitative and qualitative data analysis, the main reasons for changes in the restrictiveness of macroprudential policy have been identified. It has been shown that the reduction of the regulatory stringency resulted to a bigger extent from improved capital position of banks than from a lower capital requirement. The analysis has also indicated that among the EU countries, capital requirements for banks in Poland were loosened the most during the pandemic

Keywords:

European Union, macroprudential policy, COVID-19 pandemic, capital requirements, restrictiveness

JEL Codes

E51, G18, G21, G28


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Czaplicki, M. (2022). Macroprudential capital requirements in the European Union during the COVID-19 crisis. Safe Bank, 85(4), 8–37. https://doi.org/10.26354/bb.1.4.85.2021

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