Budapest, 30 June 2026 – The MNB left unchanged the 1 percent level of the Countercyclical Capital Buffer (CCyB) rate from 1 July 2027. The capital requirement along with the sectoral Systemic Risk Buffer applied in relation with real estate market risks strengthens the strong shock absorbing capacity of banks without hindering bank lending capacity.
The cyclical systemic risk map (CSRM) monitored by the MNB and the cyclical systemic risk index (CSRI) summarising its main indicators overall indicate a low, neutral level of cyclical systemic risks in the financial system, with the risks of real estate market exposures increasing due to overvaluation in the housing market and increased collateral encumbrance. However, the MNB addresses the persistent, substantial overvaluation of the housing market and the risks surrounding the commercial real estate market in a targeted manner, by applying a 1 percent sectoral Systemic Risk Buffer to both segments from 1 January 2026.
Accordingly, setting a requirement exceeding the 1 percent CCyB rate prescribed by the central bank in a neutral risk environment is not justified. In view of all this, the MNB will maintain the 1 percent CCyB rate applicable to domestic exposures from 1 July 2025 also from 1 July 2027 onwards.
The MNB also reviewed the list of third countries that are material for the domestic banking system's exposures and that should be monitored in terms of the build-up of cyclical risks. The list of material third countries remains unchanged: Albania, Montenegro, Russia, Serbia, Ukraine and Uzbekistan.
The MNB determines the CCyB rate applicable to domestic exposures on a quarterly basis. The MNB identifies the list of third countries that are material in terms of the exposures of the domestic banking system by the end of the second quarter of each year.
Information on the countercyclical capital buffer and its operation
Magyar Nemzeti Bank