04 January 2023

Minutes of the Financial Stability Committee December meeting

The minutes of the Financial Stability Committee December meeting has been published. The Committee discussed the current situation and outlook for financial stability and the principal risks to financial stability, such as economic developments, risks in the operations of financial institutions and the financial system, developments in domestic financial markets, household and corporate debt, the real estate market, the efficacy of borrower-based measures, financial institutions’ capital position, and the financial cycle. The Committee also discussed the security, efficiency, and efficacy of financial market infrastructure and its importance for financial system stability.

The FSN confirmed the systemic importance of Arion Bank, Íslandsbanki, and Landsbankinn and decided to hold the O-SII buffer rate unchanged at 2% for all exposures. In its quarterly review of the countercyclical capital buffer (CCyB), the FSN furthermore decided to hold the buffer rate unchanged at 2%.

See the minutes here: Minutes of the Financial Stability Committee meeting (15th meeting). Published 4 January 2023.

See further information on the committee here.