.jpg)
Today, the Central Bank of Kenya hosted the third meeting of the Financial Stability Board (FSB) Regional Consultative Group for Sub-Saharan Africa in Nairobi, Kenya. Six regional consultative groups have been established to bring together financial authorities from FSB member and non-member economies to exchange views on vulnerabilities affecting financial systems and on initiatives to promote financial stability.
At their meeting today, members of the FSB Regional Consultative Group for Sub-Saharan Africa began by reviewing the FSB’s policy priorities and work plan. This was followed by a discussion on vulnerabilities in the global financial system, particularly risks in advanced economies and their possible impact on the region. Region-specific financial stability issues and risks, such as capital flows, rapid credit growth and exposures to other emerging market regions, were also discussed. Drawing upon lessons from the global financial crisis, members considered the importance of macro-prudential policy frameworks as a complement to traditional micro-prudential supervision. In particular, members exchanged views on the types of macro-prudential measures that are appropriate for the region and potential challenges with their implementation.
Click here for full details.
