The Central Bank of Ireland has instructed lenders to hold additional capital to guard against potential losses in the event of a sudden downturn.

Beginning July 5, 2019, Irish banks will be required to hold a countercyclical capital buffer of 1%, compared to 0% currently, the regulator said.

Similarly, the U.K. is targeting a countercyclical capital buffer of 1%. Slovakia's central bank recently raised the capital buffer for its lenders to 1.50%, while Sweden and Norway have maintained a capital buffer of 2%.