Austria should consider applying a counter-cyclical capital buffer to its financial sector soon, switching from its current stance of setting the buffer at zero, the head of an International Monetary Fund mission to Austria said on Monday.

"We think it's time to start thinking that at some point in the not-too-distant future it might be appropriate to apply a counter-cyclical capital buffer to give an additional cushion to the financial sector and its activities," the head of the mission, Jeffrey Franks, told a news conference. (Reporting by Francois Murphy Editing by Gareth Jones)


Reuters