The creation of a financial stability council and systemic risk committee constitute "important changes" in the way Icelandic institutions approach the subject, according to Central Bank of Iceland governor Már Guðmundsson.

Writing in the central bank's latest financial stability report, published on October 8, Guðmundsson noted the first meetings of both bodies "have already been held", while authorities have also made "considerable progress" in connection with the liberalisation of the country