Securities and Exchange Commission of the Republic of North Macedonia reports Financial Stability Committee annual assessment that the financial system remains stable

The Securities and Exchange Commission of the Republic of North Macedonia published an update on the Financial Stability Committee’s adoption of its 2024 Annual Report, which concludes that the domestic financial system remains stable, with risks assessed as moderate. The report finds the system highly resilient to shocks and notes that, in 2024, financial institutions operated in a more favourable macroeconomic environment, delivered solid results and supported deeper financial intermediation. It assesses risks to financial stability and the risk of contagion across financial-system segments as moderate, while flagging uncertainties related mainly to external factors including geopolitical tensions and economic fragmentation; as a small and open economy, North Macedonia remains exposed to external shocks. Financial institutions and macroprudential policymakers are encouraged to closely monitor developments, with regulators expected to continue coordinated monitoring, timely information exchange and, if necessary, take measures within their respective mandates. The Financial Stability Committee is described as an inter-institutional macroprudential body for coordinating systemic-risk and financial-crisis monitoring, comprising representatives from the National Bank, the Ministry of Finance, the Insurance Supervision Agency, the Capital Financed Pension Insurance Supervision Agency and the Securities and Exchange Commission.