Definition ∞ A Financial System Council is typically a governmental or intergovernmental body tasked with overseeing the stability and integrity of a nation’s or region’s financial system. This council assesses systemic risks, coordinates regulatory responses, and offers guidance on policy measures. Its mandate often includes evaluating the impact of new technologies, such as digital assets, on financial stability.
Context ∞ Financial System Councils globally are actively examining the implications of digital assets for monetary policy, financial stability, and market infrastructure. Key discussions involve the potential for digital currencies to alter traditional banking and payment systems. Future focus includes establishing appropriate regulatory frameworks and fostering international cooperation to manage cross-border digital asset risks.