New committee aims at improving BCB's management of financial stability - Tombini

Friday, May 20, 2011

Brazilian central bank BCB sees the recent creation of the Financial Stability Committee as "an opportunity to improve our management of this important issue and how we secure that," BCB head Alexandre Tombini told BNamericas.

"Our main goal here is to make sure that we integrate the areas that do the thinking here in the central bank," he said during a teleconference Thursday (May 19) in response to a question asked by BNamericas.

"What we want to do with that is basically to focus the attention to better integrate our technical staff to reflect and to focus attention on financial stability issues, on the one hand, and also to have the high administration of the central bank involved with the issues in a more systematic way," Tombini said in prepared remarks delivered before taking questions from the press and analysts.

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"I think we have a lot to gain in terms of improving our capacity to secure financial stability going forward. It's a basic change," he added.

BCB announced the creation of the Financial Stability Committee on Wednesday (May 18).