BAKU, Azerbaijan, December 19. The National Bank of Kazakhstan will introduce the Financial Stability Index, to study the financial situation in the economy, Trend reports, citing the press service of the National Bank.
The decision was announced during the meeting of the Financial Stability Council chaired by the Governor of the National Bank of Kazakhstan Galymzhan Pirmatov.
The financial stability index is a composite index consisting of many macroeconomic and financial indicators. This index will be implemented in 2023 to quantify financial stress and better understand financial fluctuations in the economy.
Other questions discussed during the meeting included the issue of revising the limit of the annual effective interest rate on uncollateralized consumer loans based on an improved calculation methodology. This methodology will reduce the cost of unsecured consumer lending for the population.
