Entire Section

  • The CCyB Rate that applies in a jurisdiction

    • PIB 3.9A.7

      (1) The Countercyclical Capital Buffer Rate for an exposure:
      (a) in the DIFC or elsewhere in the State, is the rate set by the Central Bank; and
      (b) outside the State, is the rate set by the CCyB Authority for that jurisdiction, unless the DFSA has specified a rate under PIB Rule 3.9A.8, in which case that specified rate applies.
      (2) If the rate specified by a CCyB Authority is more than 2.5% then it is taken to be equal to 2.5%, unless the DFSA specifies otherwise.
      Derived from DFSA RM209/2017 (Made 25th October 2017). [VER30/01-18]

    • PIB 3.9A.8

      (1) If the DFSA considers that the CCyB Rate in a jurisdiction outside the State is not sufficient to protect Authorised Firms from the risks of excessive credit growth in that jurisdiction, it may, for credit exposures in that jurisdiction:
      (a) specify a CCyB Rate even though no rate is imposed by the CCyB Authority for that jurisdiction; or
      (b) specify a CCyB Rate that is higher than the rate imposed by the CCyB Authority for that jurisdiction.
      (2) If the DFSA specifies a rate under this Rule, then that rate applies for Non- Financial Private Sector Credit Exposures in the jurisdiction.
      (3) The DFSA may vary or cancel a specified rate under this Rule.
      (4) The DFSA must notify affected Authorised Firms if it specifies a rate, or if it varies or cancels a rate, under this Rule.
      Derived from DFSA RM209/2017 (Made 25th October 2017). [VER30/01-18]