CSSF Regulation No 23-04 of 30 September 2023 is a CSSF regulation on the setting of the countercyclical buffer rate for the fourth quarter of 2023, published 30 September 2023 and updated 9 October 2023.
\nLegal basis: Law of 23 December 1998 creating the CSSF, Law of 5 April 1993 on the financial sector.
\nRelevant for: Credit institutions, Investment firms.
\nKeywords: Capital requirement.
\nIn case of discrepancies between the French and the English texts, the French text shall prevail.
\nCSSF Regulation No 23-04
\nIn case of discrepancies between the French and the English texts, the French text shall prevail.
\nCSSF Regulation No 23-04 of 30 September 2023 on the setting of the countercyclical buffer rate for the fourth quarter of 2023 (Mém. A 2023, No 638)
\nThe Executive Board of the Commission de Surveillance du Secteur Financier, Having regard to Article 108a of the Constitution; Having regard to the Law of 23 December 1998 establishing a financial sector supervisory commission (“Commission de surveillance du secteur financier”), and in particular Article 9(2) thereof; Having regard to the Law of 5 April 1993 on the financial sector, and in particular Article 59-7 thereof, pursuant to which the CSSF as the designated authority shall, after consulting with the Banque centrale du Luxembourg and by taking into account the recommendations of the Comité du risque systémique (Systemic Risk Committee), be responsible for setting the countercyclical buffer rate applicable in Luxembourg; Having regard to the recommendation of the Systemic Risk Committee (CRS/2023/004) of 8 September 2023 on the setting of a countercyclical buffer rate for the fourth quarter of 2023; Having regard to the decision of the ECB, adopted pursuant to Article 5 of Council Regulation (EU) No 1024/2013 of 15 October 2013 conferring specific tasks on the European Central Bank concerning policies relating to the prudential supervision of credit institutions (“SSM Regulation”), not to object to the CSSF's intention to take the macroprudential measures set out in this regulation; Having regard to the opinion of the Consultative Committee for Prudential Regulation; Decides:
\nArticle 1 Applicable countercyclical buffer rate The countercyclical buffer rate applicable to the relevant exposures located in Luxembourg remains at 0.50% for the fourth quarter of 2023. Article 2 Entry into force This regulation shall enter into force on the day of its publication in the Journal officiel du GrandDuché de Luxembourg.
\nCSSF REGULATION NO 23-04
\nArticle 3 Publication This regulation shall be published in the Journal officiel du Grand-Duché de Luxembourg and on the website of the Commission de Surveillance du Secteur Financier.
\nThe text above is the opening of the document; the PDF carries the whole.
\nDocument page, PDF. Source: Commission de Surveillance du Secteur Financier (CSSF), reproduced with the CSSF's consent. The French text prevails.
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