The Bank of Greece safeguards financial stability in Greece. It supervises credit institutions, insurance undertakings and financial institutions with a view to ensuring the stability and efficiency of the financial system.
The Financial Stability Directorate is entrusted with implementing macroprudential policy and monitoring systemic risks.
Main tasks
- It monitors and evaluates systemic risks to financial stability from all sectors of the financial system (banking sector, insurance undertakings, financial institutions, financial markets).
- It analyses the financial statements and supervisory data of credit and other financial institutions.
- It formulates the strategy and the regulatory framework of macroprudential policy in Greece and implements it with the appropriate macroprudential policy measures.
- It oversees payment systems and payment instruments, as well as securities settlement systems and central counterparties, with a view to ensuring their reliability and reducing systemic risk.
- It publishes a biannual Financial Stability Review analysing the risks and resilience of the financial system.
- It conducts stress tests at both a micro- and a macro-prudential level.
- It assesses the internal models of credit institutions and participates in relevant on-site inspections.
Divisions
- Risk Analysis Division
- Financial Infrastructure and
Payment Systems Oversight Division
- Internal Models and Supervisory
Exercises Division
- Macroprudential Policy Division
- Systemic Risk Monitoring Division