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Slovakian central bank imposes countercyclical buffer

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Slovakian central bank imposes countercyclical buffer

The Slovakiancentral bank increased the countercyclical capital buffer rate forSlovakian banks to 0.5% from zero percent, effective Aug. 1, 2017.

Slovakia becomes the first eurozone country to impose acountercyclical buffer, designed to reduce the risk posed by rapid lendinggrowth, Reuters wrote July 26. Regulators in Norway, Sweden and the CzechRepublic have imposed similar buffers, the newswire noted.

The central bank also approved a decree on the annual reportsand half-yearly reports to be submitted by pension fund management andsupplementary pension management companies, laying out the scope and structureof such reports, along with the method and place of submission.

The decree will become effectiveAug. 15.