The Faroe Islands Governmental Bank was re-established on 1 January 2017. The Bank is the financial institution of the Faroese Government and manages the country’s liquidity and administers the country’s loan facilities. The Governmental Bank is also a research institution that works to ensure the financial stability of the Faroe Islands. The Bank is an independent governmental institution. As the administrative office of the Faroe Islands Systemic Risk Advisory Council, the Bank maintains oversight of systemic financial risks in the Faroe Islands. The Bank also administers the Labour Market Pension Fund.