Regular version of site
Financial Stability Council

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.

Key Functions of the FSC:

  • identify, analyze, and assess systemic risks and threats to financial stability
  • prepare recommendations to minimize systemic risks
  • coordinate measures to prevent crises and respond quickly to their manifestations
  • coordinate cooperation between government agencies that affect 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.

FSC composition:

  • NBU Governor
  • Minister of Finance
  • Head of the National Securities and Stock Market Commission
  • Managing Director of the Deposit Guarantee Fund
  • NBU First Deputy Governor
  • Deputy Minister of Finance for European Integration.

FSC committees

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.

Financial Stability Report

December 2020