Financial Stability Committee

The Financial Stability Committee (FSC) serves as the committee responsible for financial stability policy issues, i.e. policies that are taken in the context of the Central Bank’s financial stability mandate, with a view to safeguarding the resilience of the system as a whole. The Central Bank takes financial stability policy actions, in particular, through its macroprudential policies, such that the financial system can absorb, rather than amplify, adverse shocks.

The FSC evaluates the main risks facing the financial system and assesses the resilience of the financial system to those risks. Policy decisions consider the balance between the risks facing the economy and financial system and their resilience. The FSC advises the Governor or the Commission as the relevant decision-maker regarding the Central Bank’s financial stability policies, including the Central Bank’s macroprudential policy measures.

The membership of the FSC is:

• Governor
• Deputy Governor (Monetary and Financial Stability) 
• Deputy Governor (Financial Regulation) 
• Deputy Governor (Consumer and Investor Protection) 
• Director of Financial Stability 
• Director of Economics and Statistics 
• Director of Credit Institutions Supervision 
• Secretary - Head of Macro-Financial Division

Terms of reference 

Financial Stability Committee accounts

The Central Bank published an account of FSC meetings on a quarterly basis. Accounts provide an overview of key developments at the FSC and will be published a quarter in arrears. Accounts will be published taking into account statutory or internal constraints around publication of discussions or decisions.  Read accounts of macroprudential policy discussions from 2016-2023.