IMF Staff Country Reports

Slovak Republic: Financial Sector Assessment Program-Technical Note on Macroprudential Policy Framework and Tools

April 8, 2025

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International Monetary Fund. Monetary and Capital Markets Department "Slovak Republic: Financial Sector Assessment Program-Technical Note on Macroprudential Policy Framework and Tools", IMF Staff Country Reports 2025, 090 (2025), accessed May 14, 2025, https://doi.org/10.5089/9798229007634.002

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Summary

Since the 2007 FSAP update, the Národná banka Slovenska (NBS) has made significant progress in implementing and advancing the macroprudential policy framework. In response to a build-up of mortgage risks and imbalances in the residential real estate market, the NBS, as the designated macroprudential authority, issued a non-binding recommendation in 2014 on loan-to-value (LTV), debt-service-to-income (DSTI), and maturity limits. These recommendations became binding in early 2017 and have been progressively tightened, including by adding a debt-to-income (DTI) limit to the regulatory toolkit. Borrower-based measures (BBMs) have been complemented by the activation of a counter cyclical capital buffer (CCyB) in 2017, supplementing existing capital conservation buffer (CCoB) and other systemically important institutions (O-SII) buffers. Authorities have also established a credit register to collect individual borrower data for households. As a member of the euro area, Slovakia collaborates extensively with European regulators on macroprudential policymaking.

Subject: Countercyclical capital buffers, Credit, Financial institutions, Financial regulation and supervision, Financial sector policy and analysis, Housing prices, Loans, Macroprudential policy, Money, Prices

Keywords: B. data availability, Bank funding, Countercyclical capital buffers, Credit, Evolution of Macroprudential policy, Housing prices, Loans, Macroprudential policy, MACROPRUDENTIAL Policy framework, Macroprudential setting

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