To determine macroprudential policy the National Bank of Kazakhstan:
- carries out regular monitoring of systemic risks to financial system;
- develops the methodology for identification of systemically important financial institutions and makes a list of systemically important financial institutions;
- independently or in cooperation with other state bodies proposes measures to safeguard financial stability to the Council on financial stability of the Republic Kazakhstan
- in case of a systemic financial crisis or a threat of a systemic financial crisis independently or in cooperation with the Government of the Republic of Kazakhstan imposes restrictions on certain types of banking transactions and other operations of financial institutions.
Systemic risks are risks of disruption of financial services’ provision, entailing a worsening financial condition of the whole financial system or its part and (or) undermining its stable functioning. Systemic risks of the financial system also include the risks of systemically important financial institutions.
Systemically important financial institutions are financial institutions, the stable functioning of which influences the stability of the financial system.