At its meeting in Berlin, the Financial Stability Committee (Ausschuss für Finanzstabilität - AFS) - the central body for macro-prudential oversight of the financial system in Germany comprised of representatives from the Federal Ministry of Finance, the Deutsche Bundesbank and Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht - BaFin) - adopted a recommendation to the BaFin that the domestic countercyclical capital buffer (CCyB) be capitalised from the third quarter of 2019 and raised for the first time from zero to 0.25 per cent. The new requirements must be met within twelve months of their activation. The AFS also adopted the sixth annual report on its activities to the German Bundestag summarising the issues dealt with by the AFS in the reporting period between April 2018 and March 2019 under the aspect of financial stability.
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