Greenland

The Systemic Risk Council can make recommendations, observations and warnings about Greenlandic circumstances. Representatives from the relevant Greenlandic authorities can be invited to participate in the discussions of the Council as observers, when the discussions concern Greenlandic circumstances.

The Systemic Risk Council is responsible for identifying and monitoring systemic financial risks in Greenland and can make recommendations on macroprudential initiatives targeted at banks in Greenland. Recommendations are to be addressed to the Minister for Industry, Business and Financial Affairs. The Minister is responsible for setting the capital buffer rates in Greenland.

Greenland

Background

Danish financial regulation, including Danish legislation implementing EU directives, is implemented in Greenland via decrees that may take into account special Greenlandic circumstances.

The decree whereby the rules on the Systemic Risk Council enter into force in Greenland took effect on 1 January 2016.

The decree concerning determination of the countercyclical capital buffer took effect on 1 January 2016 for Greenland.

Greenland

The Council recommends a countercyclical capital buffer of 0 per cent in Greenland

The Council discussed the current economic and financial situation in Greenland. In light of the discussion, the Council currently recommends that the countercyclical capital buffer rate for Greenland continue to be set at 0 per cent. Representatives of the Greenlandic self-government participated in the discussion.

Greenland

Download data

The Systemic Risk Council is responsible for identifying and monitoring systemic risks in Greenland. The Council's assessment of the level of the countercyclical capital buffer rate in Greenland is based on its general method of assessing the buffer rate. Data are as far as possible replicated for Greenland. The Council publishes after each quarterly meeting a dataset containing subsets of the information basis on which the assessment of the countercyclical capital buffer rate relies.