72. Powers, duties and functions of the Financial System Oversight Committee

The Financial System Oversight Committee shall-

examine the macroprudential policy to mitigate identified building-up of systemic risks affecting the financial system;

coordinate the implementation of macroprudential policy;

upon a proposal of the Central Bank under section 69, issue recommendations to relevant public authorities and financial sector authorities on corrective action in response to the risk identified and, making those recommendations public, if it deems necessary; and

monitor compliance with its recommendations.