27 In March, the Central Bank of Ireland reduced the counter cyclical capital buffer (CCYB) from 1% to 0%. The release freed up approximately € million of capital across the domestically relevant banking sector. 28 The OS-II buffer can also be used to absorb losses in times of stress.
Consistent with the EBA guidelines, the Central Bank has been clear that credit institutions should not pay dividends for the nancial years 2019 and 2020 until at least 1 October 2020 and should refrain from share buy-backs aimed at remunerating shareholders.