Central banks already compile and analyse much of the macroeconomic data of a country. However, should a financial stability mandate be made explicit, a way needs to be found for co-ordination with government.
Our suggestion, at this stage, is that while the compilation of data and analysis would primarily be the responsibility of the central bank, a financial stability committee co-chaired by the Governor and the Minister of Finance could be considered. These issues have been the focus of much discussion at the bi-monthly BIS meetings.