Financial stability

Financial stability can be defined as the situation where the financial system, which includes banks and other credit institutions, insurance and social security companies, securities markets, pension and mutual funds and market infrastructures, is able to withstand shocks that could significantly disrupt its functioning.

Contributing to the stability of the national financial system is one of the Central Bank's fundamental missions. Bank Al-Maghrib carries out this task, alongside the Ministry of the Economy and Finance, the Moroccan Capital Market Authority and Supervisory Authority of Insurance and Social Welfare, to preserve and ensure stability among the financial system within the framework of the Systemic Risk Coordination and Monitoring Committee, established under   the provisions of the law related to credit institutions and similar bodies.

To this end, in addition to the microprudential supervision that each authority carries out on the institutions under its control, they jointly adopt macroprudential policies aimed at preventing systemic risks that may  affect the financial system; to limit their impact and thereby strengthen the resilience of the financial system.

These policies are underpinned by a set of prudential regulatory and supervisory instruments designed to preserve the stability of the financial system and regulate systemic risk.