The first meeting of the newly established Systemic Risk Committee was held yesterday. The role of the Committee, which works for the Financial Stability Council, is to make recommendations to the Council. The Committee is tasked with assessing the current situation and outlook for the financial system, systemic risk, and financial stability in Iceland. It is required to meet at least four times a year, as is provided for in the Act on the Financial Stability Council, no. 66/2014, dated 28 May 2014.