The latest country to announce measures was Austria, applying the systemic risk buffer to a total of 12 banks. Since then similar measures have been adopted in Estonia, Denmark and Sweden. The latest country to announce measures was Austria, applying the systemic risk buffer to a total of 12 banks.
7 There are however several well-known problems with relying on such instruments to smooth the financial cycle. For one, aside from the counter-cyclical capital buffer, capital-based measures tend to be focused on building resilience and are hence applied in a static way. This is the case for the implementation of the systemic risk buffers in various countries that I just described.