The Council on Financial Stability of the Republic of Kazakhstan is an advisory and consultative body to the President of the Republic of Kazakhstan
Mission of the Council:
Consideration of issues on financial system stability, identification of systemic risks and development of systemic risks mitigation measures.
The Council functions:
The Council on Financial Stability gives preliminary mandatory consideration to issues related to the adoption of the following measures:
1) implementation of macroprudential policy to mitigate systemic risk in the financial system;
2) joint measures of the National Bank, the Government and the Agency on regulation and development of financial market and financial institutions to prevent a financial crisis and minimize its consequences;
3) resolution of an insolvent bank which forced liquidation carries systemic risks to the financial system, including government participation in its resolution;
4) financing second-tier banks’ rehabilitation, including financing from the National Bank and (or) its subsidiaries.
The Council considers other necessary issues to ensure financial stability and effectiveness of the Council.
- The Chairman of the Board – the Chairman of the National Bank of the Republic of Kazakhstan;
- Deputy Head of the Administration of the President of the Republic of Kazakhstan or an Assistant to the President of the Republic of Kazakhstan on social and economic issues;
- The Chairman of Agency on regulation and development of financial market and financial institutions;
- The Minister of Finance of the Republic of Kazakhstan;
- The Minister for National Economy of the Republic of Kazakhstan.
The National Bank is the working body of the Council.