MNB maintains level of domestic Countercyclical Capital Buffer rate

Budapest, 30 September 2025 – The MNB has set the Countercyclical Capital Buffer (CCyB) rate applicable to domestic exposures at 1 percent, which should be maintained in a neutral risk environment, from 1 October 2026. The application of the requirement maintains the strong shock resilience of institutions in an uncertain economic environment, while notable lending capacity is also maintained, given the robust capital position and outstanding profitability of the banking system. The free capital buffer of the banking system allows for additional lending equivalent to tens of trillions of forints.

The Cyclical Systemic Risk Index (CSRI), which summarises the main indicators of the Cyclical Systemic Risk Map (CSRM) applied by the MNB, as well as the related map indicators signal a low, neutral level of risks. Most monitored indicator categories still show low risk levels, while the categories of excessive, financial stability threatening competition among credit institutions and of the overvaluation of investment assets indicate a slightly elevated level of risks. This is primarily related to the persistently high overvaluation in the housing market and the high profitability of the banking system, which, however, still does not represent an excessive systemic risk environment requiring intervention through the CCyB.

Given the currently low, essentially stagnant level of cyclical financial systemic risks, it is not justified to set a CCyB rate that exceeds the 1 percent positive neutral CCyB rate, which is applicable in a neutral risk environment. Accordingly, the MNB will maintain the 1 percent CCyB rate applicable for domestic exposures from 1 July 2025 as of 1 October 2026, as well. The MNB mitigates the risks seen in the real estate market in a targeted manner, including through the sectoral application of the Systemic Risk Buffer.

The MNB determines the applicable CCyB rate for domestic exposures on a quarterly basis, considering the positive neutral CCyB rate, the development of cyclical systemic risks arising from credit market overheatedness and all other relevant factors.

Information on the countercyclical capital buffer and its operation

Magyar Nemzeti Bank

Vissza a tetejére

The primary objective of the MNB shall be to achieve and maintain price stability. (...) Without prejudice to its primary objective, the MNB shall support the maintenance of the stability of the system of financial intermediation, the enhancement of its resilience, its sustainable contribution to economic growth; furthermore, the MNB shall support the government’s economic policy and its policy related to environmental sustainability, using instruments at its disposal.