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
The Directorate:
- monitors and evaluates systemic risks to financial stability from all sectors of the financial system (banking sector, insurance undertakings, financial institutions, financial markets);
- formulates the strategy and the regulatory framework of macroprudential policy in Greece and implements it with the appropriate macroprudential policy measures;
- conducts a supervisory assessment of digital financial services, including payment services and services/products that use financial technology (FinTech) and, more generally, innovation in their business model, in cooperation with other competent divisions;
- 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;
- publishes a biannual Financial Stability Review analysing the risks and resilience of the financial system;
- conducts stress tests at both a micro- and a macro-prudential level;
- assesses the internal models of credit institutions and participates in relevant on-site inspections.
Divisions
- Supervisory Directorates
Administrative Support
Division
- Financial Infrastructure and
Payment Systems Oversight
Division
- Digital Finance Supervision
Division
- Internal Models and
Supervisory Exercises
Division
- Macroprudential Policy
Division
- Systemic Risk Monitoring
Division