The Bank of Greece published its quarterly assessment for the third quarter of 2026 and left the countercyclical capital buffer rate for Greece unchanged at 0.5%. It assessed cyclical systemic risks as low and the overall risk environment as standard, and confirmed that the 0.5% rate, set at the target positive neutral CCyB level, will apply from 1 October 2026. The assessment combines the standardised credit-to-GDP gap, the buffer guide and a broader set of indicators tracking cyclical systemic risks. The buffer guide remains at zero because the credit-to-GDP gap has stayed negative since the third quarter of 2012 and stood at minus 18.1 percentage points in the fourth quarter of 2025. Additional indicators pointed to emerging risks in some areas, including credit growth to non-financial corporations, residential real estate prices and the current account, but the Bank of Greece concluded that there is no excessive credit growth in Greece. The decision sits within the Bank of Greece's positive neutral CCyB framework, which is designed to be activated early in the economic and financial cycle when cyclical systemic risks are neither elevated nor subdued. Until 30 September 2026, credit institutions are required to maintain a CCyB rate of 0.25%, with the 0.5% rate taking effect from 1 October 2026.
Bank of Greece2026-07-23
Bank of Greece keeps Greece countercyclical capital buffer at 0.5% from 1 October 2026 as cyclical systemic risks remain low
The Bank of Greece kept Greece's countercyclical capital buffer unchanged at 0.5%, effective from 1 October 2026, after assessing cyclical systemic risks in the third quarter of 2026 as low and the risk environment as standard. The buffer guide remains at zero because the credit-to-GDP gap is still negative, although some indicators show emerging risks in corporate credit growth, residential real estate prices and the current account. Until 30 September 2026, banks remain subject to a 0.25% CCyB rate.