Regulation 7 Announcement of changes to the buffer rate
The Bank must publish the following information on its website—
the buffer rate assessed and set by the FPC in accordance with regulation 5;
the relevant ratio of credit to gross domestic product and its deviation from the long-term trend, and
the reasons for the FPC’s decision on the level of the buffer rate.
Where the FPC decides to increase the buffer rate, the Bank must publish on its website—
the date from which the new buffer rate must be applied by UK institutions subject to institution-specific countercyclical capital buffers, and
any exceptional circumstances which justify any decision by the FPC to require UK institutions to apply the new buffer rate from a date within the period of 12 months specified in regulation 6(2).
Where the FPC decides to decrease the buffer rate, the Bank must publish on its website the indicative period referred to in regulation 6(3) and the FPC’s reasons for choosing that period.