Regulation 6 Date from which changes to the buffer rate apply

Where the FPC increases the buffer rate, it must decide the date from which the new buffer rate must be applied by UK institutions that are subject to institution-specific countercyclical capital buffers.

The date referred to in paragraph (1) must be 12 months after the day on which the buffer rate is published in accordance with regulation 7 unless an earlier date is justified on the basis of exceptional circumstances.

Where the FPC reduces the buffer rate, it must decide on an indicative period during which no increase in that rate is expected.

The indicative period referred to in paragraph (3) is not binding on the FPC.