French central bank Governor François Villeroy de Galhau said the country's financial stability council is studying whether there is a need for banks to set aside more capital amid credit growth, Reuters reported.

The council, which includes Finance Minister Bruno Le Maire and Villeroy de Galhau, in June 2018 imposed a countercyclical capital buffer of 0.25% for banks to rein in a fast pace in lending. The measure, however, proved to be not enough to slow lending growth, according to the March 8 report.

"We already used once the countercyclical buffer in June last year; we are looking seriously whether it shouldn't be raised," Villeroy was quoted as saying to French radio BFM Business.