Furthermore, banks will be subjected to the restrictions on distributions also if the capital level (capital conservation buffer plus countercyclical buffer) falls below the required levels during the periods when the countercyclical capital buffer is in force. Banks will have to ensure that their countercyclical buffer requirements are calculated and publicly disclosed at least with the same frequency as their minimum capital requirements.
4  BIS Review 37/2010  Conclusion The introduction of the single currency just over a decade ago represents the greatest achievement in the history of European integration to date – a process that has ensured six decades of peace and prosperity in Europe. The global financial crisis has brought fresh challenges to which we in Europe have all risen.