The Financial Stability Council (FSC) was established by a presidential decree in March 2015.
The FSC identifies systemic risk and threats to financial stability and develops recommendations to minimize their impact on the financial system. The FSC is an inter-agency body and a platform for professional discussions on financial stability.
FSC decisions are nonbinding. Although the FSC does not interfere with the activities of its constituent bodies, it collectively develops public policy proposals that pursue financial stability.
The FSC holds financial stability meetings at least once a quarter.
Information, analytical, and logistical support of the FSC’s activities is provided by the NBU.
In order to be effective, the FSC has established several working groups (committees). The groups aim at developing mechanisms for cooperation and coordination of actions to ensure financial stability in Ukraine, and preparing recommendations for mitigating systemic risks to the stability of Ukraine's banking and/or financial system. It is at the committee level that various the regulators coordinate their legislative and regulatory proposals regarding finance.
The Council’s key tasks include:
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:
Chair of the Council:
The main task is to develop and provide recommendations to the governing bodies of state-owned banks with regard to:
Committee Composition: Chairman, Deputy Chairman, and members are representatives of the Ministry of Finance of Ukraine, the NBU, the Deposit Guarantee Fund, the Office of the President of Ukraine and law enforcement authorities.
Committee Composition: Chairman, Deputy Chairman, Secretary, and members are representatives of the Ministry of Finance of Ukraine, the NBU, the Deposit Guarantee Fund, the National Securities and Stock Market Commission, the Ministry of Economy of Ukraine.