(ČIA) Czech banks have been conservative in the last two decades, systematically creating large capital buffers. They are now much stronger and better prepared than they were e.g. in 2008, when the last big crisis broke out. Pavel Štěpánek, the executive director of the Czech Banking Association (CBA), said in response to the results of stress tests published by the Czech National Bank (CNB) that this allows banks to support the economic recovery. He added that a further reduction of the countercyclical capital buffer by 0.5% is the right step at the right time and creates additional space for banks both to provide loans to support companies' working capital and their investments.