The Commission has now launched a consultation on how the countercyclical buffers proposed in the Basel Committee consultation of July 2010 might be applied in the EU. It addresses two specific questions:  

  • How countercyclical buffers should be calculated for EU banks that have branches in other EU member states.  
  • How add-ons might be set in each member state and the role of the European Systemic Risk Board (the macro prudential oversight authority) and the European Banking Agency.  

Responses have been requested by the Commission by 19 November 2010.