The Financial Stability Committee was established by the approval of Decree 224/011 on June 23, 2011.
The Committee is formed by the Minister of Economy and Finance, the President of the Central Bank of Uruguay, the Superintendent of Financial Services, and the President of the Bank Savings Protection Corporation (COPAB in Spanish).
The Committee’s objectives are the following:
a) Exchange information and views about the financial system today and future perspectives using a systemic and macro-prudential approach.
b) Foster academic studies that identify and measure systemic risks that could impact the financial system.
c) Propose risk management strategies that will help each organization to fulfill effectively their specific mandates.
d) Provide support to instruments for preventing and managing effectively crises that potentially could have systemic impact, including contingency planning and early warning systems.
e) Coordinate with regional and international organizations initiatives in support of financial stability, either by facilitating information exchange between organizations or by building strong working teams to better achieve the established objectives.