The Financial Stability Council is comprised of the Governor of the Central Bank of Mongolia (BoM), Minister of Finance (MoF) and the Head of Financial Regulatory Committee (FRC).
As the two of the members have been changed the council is now includes N.Zoljargal, Governor of BoM, J.Erdenebat, Minister of Finance and Z.Narantuya, Head of FRC.
The Financial Stability Council was established by joint decree dated May 9, 2007 by the Central Bank of Mongolia (BoM), Ministry of Finance (MoF) and the Financial Regulatory Committee (FRC). The primary objectives of the Council include:
- Safeguarding the financial stability of the markets
- Determining any kind of financial risks
- Managing the financial risks within the current laws and regulations.
The Council is the first ever body of this nature established in Mongolia. Its Steering Committee consists of the Governor of the Central Bank, the Minister of Finance, and the Chairman of the Financial Regulatory Committee.
There is a research unit responsible for studying the solvency related issues in banking and non-bank financial institutions sectors, securities and insurance markets. The research unit regularly discloses its findings to the general public to help individuals and entities make rational financial decisions.
The Financial Stability Council has been set up in line with international best practices and is keen to co-operate with other international financial and standardization institutions. In order to boost the competitiveness of the Mongolian banking and financial sectors in the international markets, the FSC has been introducing best practices in banking, financing, accounting and auditing.
Reports on balance sheets and other documents analyzing financial institutions is released in the form of a Financial Stability Report every 6 months.
The Financial Stability Council is comprised of the Governor of the Central Bank of Mongolia (BoM), Minister of Finance (MoF) and the Head of Financial Regulatory Committee (FRC).
As the two of the members have been changed the council is now includes N.Zoljargal, Governor of BoM, J.Erdenebat, Minister of Finance and Z.Narantuya, Head of FRC.
The Financial Stability Council was established by joint decree dated May 9, 2007 by the Central Bank of Mongolia (BoM), Ministry of Finance (MoF) and the Financial Regulatory Committee (FRC). The primary objectives of the Council include:
- Safeguarding the financial stability of the markets
- Determining any kind of financial risks
- Managing the financial risks within the current laws and regulations.
The Council is the first ever body of this nature established in Mongolia. Its Steering Committee consists of the Governor of the Central Bank, the Minister of Finance, and the Chairman of the Financial Regulatory Committee.
There is a research unit responsible for studying the solvency related issues in banking and non-bank financial institutions sectors, securities and insurance markets. The research unit regularly discloses its findings to the general public to help individuals and entities make rational financial decisions.
The Financial Stability Council has been set up in line with international best practices and is keen to co-operate with other international financial and standardization institutions. In order to boost the competitiveness of the Mongolian banking and financial sectors in the international markets, the FSC has been introducing best practices in banking, financing, accounting and auditing.
Reports on balance sheets and other documents analyzing financial institutions is released in the form of a Financial Stability Report every 6 months.