The Council is an inter-agency body and a platform for discussions related to financial stability. The Council makes recommendations. The Council does not interfere with the work of its member agencies but develops recommendations on public policy aimed at ensuring financial stability.
The Council was established by Presidential Decree No. 170/2015 in March 2015. Its mandate is to identify and mitigate in a timely manner risks that pose a threat to the stability of the banking and financial systems.
The Council’s key tasks include:
- data exchange, identification and monitoring of systemic risks
- recommendations on mitigation of systemic risks
- coordination of rapid response measures under financial crisis episodes
- coordination of internal and external communications under emerging crisis situations in financial sector.
The Council holds meetings at least quarterly and publishes press releases and annual report on its activity.
The Council is made up of representatives from the National Bank of Ukraine, the Ministry of Finance of Ukraine, the National Securities and Stock Market Commission, the National Commission for the State Regulation of Financial Services Markets, and the Deposit Guarantee Fund. The Council’s decisions are non-binding recommendations.
Co-chairs of the Council:
- Governor of the National Bank of Ukraine
- Minister of Finance of Ukraine.
Chair of the Council:
- Chair of the National Securities and Stock Market Commission
- Managing Director of the Deposit Guarantee Fund
- Two Deputies Governor of the National Bank of Ukraine
- Deputy Minister of Finance of Ukraine, responsible for European Integration
- Deputy Head of the Office of the President of Ukraine.