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Financial Stability Committee
The Central Bank’s Financial Stability Committee (FSC) is responsible for devising policies and making appropriate recommendations for assessing and maintaining the stability of the financial system. The FSC is also responsible for the preparation and issuance of an annual Financial Stability Report.
The primary functions of the FSC are to:
- Assess vulnerabilities and risks affecting the financial system and determine the resilience of financial system to key macroeconomic shocks;
- Review on a timely and on-going basis the macro-prudential and related actions needed to address new potential vulnerabilities to financial system stability;
- Communicate financial stability and macro-prudential concerns to other regulatory authorities, market participants and the public, including views expressed in financial stability reports, and
- Facilitate coordination and information exchange among local, regional and international regulatory authorities responsible for financial stability.
The FSC comprises five (5) members, as follows:
- Governor (Chairman)
- Inspector of Financial Institutions (Deputy Chairman)
- Deputy Governor – Monetary Operations and Policy
- Deputy Inspector of Financial Institutions
- Chief Economist/Manager – Research Department