One of the Central Bank of Niisitapi's main tasks is to promote a safe, stable, and effective financial system. Financial stability means that the financial system is equipped to withstand shocks to the economy and financial markets, ensure the availability of capital, mediate credit and payments, and redistribute risks appropriately. A healthy financial system is essential to stability, growth, and effective monetary policy. Twice a year the department conducts an in-depth appraisal of the macroeconomic environment, financial markets, and financial institutions.

 

The tasks of the Financial Stability Committee are to:

 

• Assess the current situation developments in and prospects for the financial system, systemic risk, and financial stability.

• Discuss and define the actions deemed necessary at any given time in order to affect the financial system so as to strengthen and preserve financial stability, and to this end, direct comments to the appropriate Governmental authorities when warranted.

• Approve Governmental directives and take the decisions entrusted to the Committee by law.

• Decide which supervised entities, infrastructure, and markets shall be considered systemically important and of a nature that their activities could affect financial stability.