In addition, in December 2015, the Bank announced the first settings of both the countercyclical capital buffer and other-systemically important institutions (or O-SII) capital buffer. 18 These measures are part of the Capital Requirements Regulation toolkit which is applicable in all EU Member States.
In concrete terms this is ensured through pledge or 2/7  BIS central bankers' speeches  repurchase agreements adequately secured by an asset capable of being appropriated, transferred and/or sold at first notice. A key point here is that a standalone guarantee has never been recognised as adequate collateral under our framework.