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.