64. Macroprudential powers of the Central Bank

monitor, identify or assess the build-up of risks and vulnerabilities in the financial system;

request, collect, compile, analyze or publish data, information and statistics in order to achieve the macroprudential objectives;

conduct stress testing and simulation exercises;

designate systemically important financial sector participants under section 68;

adopt and apply the macroprudential instruments indicated in section 66 to financial institutions regulated and supervised by the Central Bank;

adopt and apply enhanced macroprudential oversight to systemically important financial sector participants;

identify gaps in regulation that could pose systemic risks;

formulate strategies and policies to mitigate or address identified systemic risks;

monitor domestic and international financial regulatory developments and advise on legislative or regulatory measures that will enhance financial stability;

develop and propose prudential standards to be applied by relevant financial sector authorities in respect of financial sector participants regulated and supervised by such authorities;

facilitate information sharing and cooperation among relevant financial sector authorities; and

propose to the Financial System Oversight