It envisages that each country (or sub-region, in the case of the ECCU) will have established an overarching framework for financial stability, led by the central bank. The regional architecture then becomes the mechanism which binds together the national and sub-regional financial stability functions.
At its apex sits the Committee of Central Bank Governors, with each Governor in their capacity as head of the financial stability function in the area under their jurisdiction. It is the task of the current conference to advance the process of putting that system in place.