13 March 2020 – Countercyclical capital buffer requirement reduced from 2.5% to 1%

This item is sourced from the CCCSL: CSH Covid-19 Control Strategies List co-ordinated by the Complexity Science Hub Vienna, Austria. We are in the process of gathering further information and aligning taxonomies for these items.

Type of Intervention: Resource allocation
Sectors Involved: Crisis management plans
Level of Jurisdiction: National
Lead People/Agency:

Overview: Today, the Ministry of Finance has decided to follow Norges Bank’s advice to reduce the countercyclical capital buffer requirement from 2.5 to 1 percent with immediate effect. Norges Bank says that there is a risk of a pronounced economic downturn as a result of the coronavirus outbreak. The buffer requirement is reduced to prevent tighter lending standards from amplifying a downturn.
Full details here: https://www.regjeringen.no/en/aktuelt/reduction-of-the-countercyclical-buffer/id2693388/