CNB's role

Published: 7/6/2024
One of the key CNB's roles under law is the contribution to the stability of the financial system as a whole. In accordance with this, the CNB performs a systematic analysis of systemic risks that may threaten financial stability and adopts measures to prevent the emergence and spread of systemic risks, and to strengthen the resilience of the total financial system.

The Act on the Croatian National Bank lists the implementation of macroprudential policy of the Republic of Croatia with regard to credit institutions among the CNB’s tasks to contribute to the maintenance of the stability of the financial system as a whole. To that end, the CNB performs a systematic analysis of systemic risks that may threaten financial stability and adopts measures to mitigate systemic risks and to strengthen the resilience of the total financial system and thereby reduce the probability and costs of crisis episodes. As part of the European System of Central Banks and the Single Supervisory Mechanism, when formulating and implementing macroprudential policy, the CNB cooperates and coordinates with the European Central Bank and in accordance with the relevant legal acts of the European Union and its institutions.

Within the Financial Stability Council, the CNB also cooperates closely with the authorities competent for regulation and supervision of non-banking financial institutions – the Croatian Financial Services Supervisory Agency, the Ministry of Finance and the Croatian Deposit Insurance Agency.

Also important for the successful maintenance of financial stability in the country is cooperation with international institutions. The CNB participates in the work of the European Systemic Risk Board, which is responsible for financial stability issues at the EU level, and with competent macroprudential authorities of other Member States.