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Macroprudential supervision is preventative in nature. Its impact is largely based on the expectations and behaviour of many financial market players. Consequently, the Financial Stability Committee communicates regularly and transparently in order to provide effective macroprudential supervision.

The Financial Stability Committee’s external communications fulfil three tasks:

  1. The Financial Stability Committee accounts for its actions and informs the public about its activities.
  2. The Financial Stability Committee can share its assessment of the risk situation with market participants, thus allowing market participants to take the assessment into account when taking decisions.
  3. The Financial Stability Committee communicates a rise in systemic risks at an early stage in order to preventively reduce the likelihood and potential impact of a future financial crisis.

In the event of an acute financial crisis, it is not the Financial Stability Committee’s role to respond with its own measures. However, the Financial Stability Committee continues to perform its assessment of the macroprudential risk environment. In addition, the Federal Ministry of Finance, the Federal Financial Supervisory Authority (BaFin) and the Bundesbank are able to coordinate quickly and effectively via the Financial Stability Committee and communicate at an early stage, e.g. concerning the impact on financial stability of crisis measures that have been undertaken.

The purpose of the Financial Stability Committee’s external communications is to promote the effectiveness of macroprudential policy. To this end, the public needs to view the Financial Stability Committee as an independent body. This is supported by coordinated and uniform communications by the institutions represented in the Financial Stability Committee.

Once a year, the Financial Stability Committee reports to the Bundestag on its activities and on the financial stability situation and trends. The annual reports are published after their transmission to the Bundestag. In addition to the annual report, the Financial Stability Committee communicates with the public through press meetings and via its website, among other channels.

Overview to all FSC-Communication

Release date

14 December 2023El­e­vat­ed risks re­quire suf­fi­cient re­silience in the Ger­man fi­nan­cial sys­tem
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13 October 2022Weak­en­ing of the eco­nom­ic en­vi­ron­ment and height­ened risks: safe­guard­ing the re­silience of the Ger­man fi­nan­cial sec­tor
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12 January 2022Ger­man Fi­nan­cial Sta­bil­i­ty Com­mit­tee wel­comes the Fed­er­al Fi­nan­cial Su­per­vi­so­ry Au­thor­i­ty’s an­nounced pack­age of macro­pru­den­tial mea­sures
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3 December 2021Fi­nan­cial Sta­bil­i­ty Com­mit­tee ad­vo­cates swift re­turn to pre­ven­tion mode in macro­pru­den­tial pol­i­cy
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26 February 2021Coun­ter­cycli­cal cap­i­tal buffer (CCyB) to stay at 0% un­til end of 2021
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18 March 2020The Fi­nan­cial Sta­bil­i­ty Com­mit­tee en­dors­es BaFin’s re­duc­tion of the coun­ter­cycli­cal cap­i­tal buffer (CCyB)
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27 May 2019In­creas­ing the coun­ter­cycli­cal cap­i­tal buffer (CCyB)
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16 September 2015In­tro­duc­tion of the coun­ter­cycli­cal cap­i­tal buffer (CCyB)
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30 June 2015Cre­ation of macro­pru­den­tial in­stru­ments for the res­i­den­tial re­al es­tate mar­ket
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