CNB Board decisions on financial stability

The Bank Board usually discusses financial stability issues four times a year and, in exceptional cases, at extraordinary meetings.

The Bank Board discusses the Financial Stability Report (the spring and autumn issues) at two meetings. These meetings, which can be considered “major”, include the Bank Board’s decision on setting a wider range of macroprudential policy tools. The Bank Board’s decision on financial stability issues is published and a press conference is given straight after the meeting. During the press conference, the reasons for the Bank Board’s decision are explained, and a detailed description of the parameters of this decision is given. The press conference presentation is then published on the CNB website. The CNB also publishes audio and video recordings of the press conference on its website about an hour after it has ended. The minutes of the meeting on financial stability, reflecting discussions by Bank Board members, are usually published two weeks later. They are published together with the Financial Stability Report.

A further two meetings are held (in Q1 and Q3) at which the Bank Board makes its decision on setting or changing the countercyclical capital buffer rate. The decision is published on the day of the meeting. If the countercyclical capital buffer rate is changed, the relevant Provision of a general nature on setting the countercyclical capital buffer rate is published the following day. If the rate is left unchanged, the decision is instead justified the following day using an official information document. The minutes of the meeting, reflecting the board members’ discussion, are published two weeks later.