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Dubai Financial Services Authority (DFSA): Contents

Dubai Financial Services Authority (DFSA)
Recognised Jurisdictions and Funds
Declaration Notices
Financial Markets Tribunal
Rulebook Modules
Prudential — Investment, Insurance Intermediation and Banking Module (PIB) [VER34/12-19]
PIB 3 Capital
Sourcebook Modules
Consultation Papers
Policy Statements
DFSA Codes of Practice
Amendments to Legislation
Media Releases

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  • The CCyB Rate that applies in a jurisdiction

    • PIB 3.9A.7

      (1) The Countercyclical Capital Buffer Rate for an exposure:
      (a) in the DIFC or elsewhere in the StateG , is the rate set by the Central BankG ; and
      (b) outside the StateG , is the rate set by the CCyB Authority for that jurisdiction, unless the DFSAG has specified a rate under PIB Rule 3.9A.8, in which case that specified rate applies.
      (2) If the rate specified by a CCyB Authority is more than 2.5% then it is taken to be equal to 2.5%, unless the DFSAG specifies otherwise.
      Derived from DFSA RM209/2017 (Made 25th October 2017). [VER30/01-18]

    • PIB 3.9A.8

      (1) If the DFSA considers that the CCyB RateG in a jurisdiction outside the StateG is not sufficient to protect Authorised FirmsG from the risks of excessive credit growth in that jurisdiction, it may, for credit exposures in that jurisdiction:
      (a) specify a CCyB RateG even though no rate is imposed by the CCyB AuthorityG for that jurisdiction; or
      (b) specify a CCyB RateG that is higher than the rate imposed by the CCyB AuthorityG for that jurisdiction.
      (2) If the DFSAG specifies a rate under this RuleG , then that rate applies for Non- Financial Private Sector Credit ExposuresG in the jurisdiction.
      (3) The DFSAG may vary or cancel a specified rate under this RuleG .
      (4) The DFSA must notify affected Authorised FirmsG if it specifies a rate, or if it varies or cancels a rate, under this RuleG .
      Derived from DFSA RM209/2017 (Made 25th October 2017). [VER30/01-18]