BoB, NBFIRA form joint 'response unit'

This morning, central bank governor, Moses Pelaelo said the watchdog, to be known as the Financial Stability Council, would seek to close the regulatory and monitoring gaps between the BoB and NBFIRA.

“The high-level Council will comprise a primary focus on coordinated macro-prudential monitoring, analysis and response with respect to any financial system imbalances or distress,” he said when launching the 2018 Monetary Policy Statement.