The Financial Stability Council (FSC) met on November 1 and 2, 2022, to deliberate on domestic financial stability developments including sectoral performance and regulatory issues as well as evaluation of the impact of current and prospective regional and global financial developments. It was observed that, thus far, the domestic financial system remains resilient and robust; thus, continues to be safe and sound; as well as unconstrained in providing and growing the range of financial services to support the economy. However, there are potential risks to the stability of the domestic financial system emanating from the negative effects of the Russia-Ukraine war and other geopolitical tensions, continued exposure to cyber threats due to increasing usage of technology, as well as climate-related financial risks.
See Press Release attached below: