French government raises counter-cyclical buffers for first time

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France has raised the counter-cyclical capital buffer for its banks to above 0% for the first time on the recommendation of Banque de France’s governor, François Villeroy de Galhau.

The High Council for Financial Stability announced it was raising the buffer to “a moderate level of 0.25%” after holding its regular meeting on June 11.

The HCFS said it was acting in the light of updated forecasts from the Banque de France. It said these forecasts “anticipate strong economic growth for France, ab

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