The Central Bank of Iceland has published the minutes of the Financial Stability Committee meetings held on 26 November and 2 and 3 December 2024, outlining its review of the main risks to financial stability and its discussion of the macroprudential stance, including the countercyclical capital buffer (CCyB) and the neutral buffer rate. The Committee’s discussions covered economic developments, risks in the operations of financial institutions and the wider financial system, developments in domestic financial markets, household and corporate debt, the real estate market, the efficacy of borrower-based measures, and financial institutions’ capital and liquidity, alongside global uncertainties. Members also discussed operational security in payment intermediation.