Today, we are announcing the latest quarterly review of the CCyB, with the rate remaining at 1 per cent. But, as I said earlier, the macro-financial outlook in Ireland is subject to significant uncertainty and we remain ready to adjust the CCyB rate in either direction as appropriate. Second, the Other-Systemically Important Institutions Buffer (O-SII buffer).
The objective of the O-SII buffer is to reduce the probability of failure of systemically important financial institutions, given the potentially greater impact of failure of those institutions on the domestic economy.