Poland’s Financial Stability Committee, chaired by a Central Bank of Poland board member, adopted a resolution maintaining its recommended countercyclical capital buffer rate at 2%. The current countercyclical buffer rate is 1%, set in a Ministry of Finance regulation in force since 25 September 2025, while the second-stage 2% buffer is set to apply from 30 September 2026, with the Ministry of Finance representative accepting the recommendation and indicating no legislative action is needed. The Committee assessed risks in the financial system, judging that legal risk from foreign currency housing loans has decreased due to banks’ provisioning and progress in amicable settlements, contributing to a lower synthetic risk indicator than in the previous quarter. It reordered key vulnerabilities, with geopolitical risk now seen as the most significant, followed by risks related to the foreign currency housing loan portfolio, the risk of WIBOR being undermined, and the risk linked to application of the free credit sanction, while removing residential real estate market risk from the systemic vulnerabilities list. It also reviewed a revised draft Consumer Credit Act and concluded that the free credit sanction provisions still do not sufficiently reflect its March 2025 position, citing concerns over proportionality and potential abuse by professional stakeholder groups, and said creditworthiness assessment provisions require further amendments to remove interpretive ambiguity. In line with European Systemic Risk Board recommendations, the Committee decided to provide the ESRB with a report on implementation of the recommendation on vulnerabilities in the commercial real estate sector and a note stating there is no need for reciprocity regarding Austria’s sectoral systemic risk buffer. The next regular macroprudential meeting is scheduled for June 2026.
Central Bank of Poland 2026-03-23
Central Bank of Poland’s Financial Stability Committee upholds 2% countercyclical capital buffer recommendation for September 2026
Poland’s Financial Stability Committee, chaired by a Central Bank of Poland board member, maintained the countercyclical capital buffer rate at 2%, effective from 30 September 2026. The current rate is 1%. The Committee noted decreased legal risk from foreign currency housing loans and highlighted geopolitical risk as most significant. It reviewed the Consumer Credit Act, expressing concerns over free credit sanction provisions and creditworthiness assessment, and will report to the European Systemic Risk Board on commercial real estate sector vulnerabilities.