IMF Staff Country Reports

Slovak Republic: Financial Sector Assessment Program-Technical Note on Macroprudential Policy Framework and Tools

April 8, 2025

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International Monetary Fund. Monetary and Capital Markets Department "Slovak Republic: Financial Sector Assessment Program-Technical Note on Macroprudential Policy Framework and Tools", IMF Staff Country Reports 2025, 090 (2025), accessed April 13, 2025, https://doi.org/10.5089/9798229007634.002

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Summary

Since the 2007 FSAP update, the Národná banka Slovenska (NBS) has made significant progress in implementing and advancing the macroprudential policy framework. In response to a build-up of mortgage risks and imbalances in the residential real estate market, the NBS, as the designated macroprudential authority, issued a non-binding recommendation in 2014 on loan-to-value (LTV), debt-service-to-income (DSTI), and maturity limits. These recommendations became binding in early 2017 and have been progressively tightened, including by adding a debt-to-income (DTI) limit to the regulatory toolkit. Borrower-based measures (BBMs) have been complemented by the activation of a counter cyclical capital buffer (CCyB) in 2017, supplementing existing capital conservation buffer (CCoB) and other systemically important institutions (O-SII) buffers. Authorities have also established a credit register to collect individual borrower data for households. As a member of the euro area, Slovakia collaborates extensively with European regulators on macroprudential policymaking.

Subject: Consumer loans, Countercyclical capital buffers, Credit, Financial institutions, Financial regulation and supervision, Financial sector policy and analysis, Financial sector stability, Housing prices, Loans, Macroprudential policy, Macroprudential policy instruments, Money, Mortgages, Prices

Keywords: Consumer loans, Countercyclical capital buffers, Credit, Financial sector stability, Housing prices, Liquidity requirements, Loans, Macroprudential policy, Macroprudential policy instruments, Mortgages

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