The first meeting of the Financial Stability Council in 2015 was held on Monday, 19 January in the Ministry of Finance and Economic Affairs. The Financial Stability Council is the authorities' official forum for collaboration on financial stability. The Council serves as venue for consultation, exchange of information and policy formulation on financial stability and co-ordinates the preparedness of public authorities for financial crises.
The Financial Stability Council estimates that financial system risk has decreased since its last meeting, in particular due to the extension of bonds issued by Landsbankinn to LBI. Other risk factors are for the most part unchanged since the last meeting.
The following matters were on the meeting agenda:
- The Financial Stability Council: its role and objectives
- Report from the Systemic Risk Committee
- Methodology for assessment of systemically important financial undertakings
- Prudential rules following capital controls
- Draft report of the committee on shadow banking activities
- Other matters
The Financial Stability Council is comprised of the Minister of Finance and Economic Affairs, who acts as chairman, the Central Bank Governor and the Director General of the Financial Supervisory Authority.