The global financial crisis exposed the flaws of regulatory systems where too much emphasis is placed on regulating individual financial institutions without sufficient attention being paid to analysis of the financial system as a whole. This experience has demonstrated the need for a robust macro-prudential framework that mitigates systemic risk.

The new QCB law has accordingly created the Financial Stability and Risk Control Committee (FSRCC) with a key objective of studying emerging and potential risks within the financial sector as a whole and setting out policy proposals to mitigate such risks.

The Strategic Plan aims to support macro-prudential oversight and regulation through the following initiatives: