The Decision on the Countercyclical Buffer Rate for the Republic of Serbia of 8 June 2017, applied as of 30 June 2017, sets the rate at 0%.
At its meeting of 8 December 2022, the NBS Executive Board decided to keep the countercyclical capital buffer (CCyB) rate for the Republic of Serbia at 0%, in order to support financing conditions for businesses and households:
- Guide for setting the CCуB: 0%;
- Credit-to-GDP ratio: 85.6%;
- Deviation of credit-to-GDP ratio from its long-term trend (credit-to-GDP gap):
Explanation: The credit-to-GDP ratio in Q3 2022 was above its long-term trend, but the credit-to-GDP gap remained below the 2 pp benchmark that would require the introduction of the countercyclical capital buffer.1