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

Discussion of risk build-up in Greenland

The Council discussed risk build-up in Greenland on the meeting 17 December 2018. In light of the discussion, the Council decided to maintain its advice on a countercyclical capital buffer rate of 0 pct. for the time being. Representatives from the Greenlandic authorities were present at 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 subset of the information basis on which the assessment of the countercyclical capital buffer rate relies.