Other national measures under art. 458 CRR

Article 458 of the Capital Requirements Regulation (CRR) (575/2013) allows national authorities to impose stricter prudential requirements to address systemic risks with the potential to have serious negative consequences to the financial system and that are considered to be better addressed by stricter national measures. The instruments in Article 458 CRR serve different purposes and target different dimensions of systemic risk. These measures can be applied for up to two years, with a possibility of extension. It can target own funds requirements, capital conservation buffer, intra-financial sector exposures, large exposures requirements, public disclosure requirements but also liquidity and real estate-related systemic risks. Where the CSSF acts in accordance with Article 458 of Regulation (EU) No 575/2013, it shall take its decisions after consultation with the Banque Centrale du Luxembourg (BCL) and after requesting the opinion or recommendation of the Comité du Risque Systémique (CdRS). So far, no measure under art. 458 CRR has been taken.