ESRB欧洲系统风险委员会：2025年利用逆周期资本缓冲在周期早期建立韧性报告（英文版）

In recent years, a “positive neutral” approach to the setting of the countercyclical capital buffer (CCyB) has gained traction among EEA countries as one way to increase resilience over the financial cycle and enhance financial stability. Since 2017, an increasing number of EEA macroprudential authorities have revised their strategies for setting the CCyB. This has led to a positive buffer rate being set early in the financial cycle when cyclical systemic risks are not yet elevated. Such stra