Dear Guest! If you find an error on the page or you have any technical question please call the customer service center. Phone number is 06-80-203-776. The Central Bank of Hungary.
HU

Financial Stability Council

Print

According to the Central Bank Act, the basic tasks of the Magyar Nemzeti Bank (hereinafter referred to as ‘MNB’) has expanded in point of maintaining and strengthening financial stability, on the other hand new instruments are available for these new tasks. Within this framework the Financial Stability Council of MNB has been established on 1st October, 2013.

The Financial Stability Council is a decision-making body of the MNB established by the new Central Bank Act (Act CXXXIX of 2013 on Magyar Nemzeti Bank), and its scope of competence includes, within the strategic framework defined by the Monetary Council, the decision-making concerning the tasks specified in Article 4 paragraphs (5) and (7) – (9).

The Financial Stability Council within its scope above-mentioned:

  • continuously monitor the stability of the system of financial intermediation as a whole and of the financial markets in order to maintain the stability of the system of financial intermediation as a whole,
  • take account of risk factors threatening the system of financial intermediation as a whole,
  • analyse the risks related to certain types of institutions or products or to the spread of these which may represent a threat to the system of financial intermediation as a whole,
  • monitor developments on international and European markets and risks which may represent a threat to the stability of the system of financial intermediation as a whole, and make a decision on the necessary measures within the strategic framework defined by the Monetary Council,
  • discuss strategic, regulatory and risk-related issues affecting the system of financial intermediation as a whole and issues opinions if necessary,
  • in situations threatening the stability of the system of financial intermediation as a whole, assess systemic risks and decide on the measures required to reduce or eliminate such risks,
  • as necessary, place on its agenda the recommendations, opinions and risk warnings of the European Systemic Risk Board relevant for the system of financial intermediation as a whole,
  • discuss the recommendations and decisions issued by the European Supervisory Authorities as needed, including decisions addressed to national supervisory authorities calling for specific measures in the event of serious jeopardy to the stability of the European financial system and express its opinion on the tasks arising from such decisions,
  • publish non-binding recommendations for the persons and bodies covered by the acts defined in Article 39 describing the grounds of jurisdictional principles followed by the MNB,
  • annually define the priority target areas of the MNB’s control activities,
  • make decisions in administrative proceedings relating to the exercise of supervision over persons, bodies and activities falling under the scope of the acts defined in Article 39, as defined in Article 4 (9), and
  • make decisions in administrative proceedings relating to the exercise of resolution function according to Article 4 (8), defined in a separate Act.

The members of the Financial Stability Council:

  • György Matolcsy, Governor of MNB
  • Márton Nagy, Deputy Governor - Monetary Policy and Lending Incentives
  • Ferenc Gerhardt, Deputy Governor - Statistics and Financial Infrastructures
  • László Windisch, Deputy Governor - Financial Institutions Supervision and Consumer Protection,
  • Barna Fömötör, Director General
  • Csaba Kandrács, Executive Director - Financial Institutions Supervision,
  • Anikó Szombati, Executive Director - Macroprudential Policy,
  • Csaba Szomolai, Executive Director - Licensing and Legal Enforcement,
  • Barnabás Virág, Executive Director - Monetary Policy and Lending Incentives

Contact:

Postal address of the Financial Stability Council:

MNB, 1054 Budapest, Szabadság tér 9.

E-mail: pst@mnb.hu