Responsibility of Central Banks for Stability in Financial Markets
IMF Working Papers, June 1, 2003
Source details
- Canonical URL
- Responsibility of Central Banks for Stability in Financial Markets
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Bibliographic details
- Authors: Garry J. Schinasi
- Published: June 1, 2003
- Series: IMF Working Papers
- DOI: https://doi.org/10.5089/9781451854404.001
Summary and central questions
- Title: Responsibility of Central Banks for Stability in Financial Markets
- Author: Garry J. Schinasi
- Date: June 1, 2003
- Core questions examined in the paper:
- What is meant by financial stability?
- Do central banks have a natural role in ensuring financial stability?
- What does a central bank need to execute this role effectively?
- How far have central banks actually gone in safeguarding financial stability?
Major findings
- The paper draws on experiences in Europe, Japan, and the United States.
- The experience in the paper suggests that central banks:
- have a natural role to play in ensuring financial stability;
- at times may require supervisory information to execute this natural role;
- have incurred risks to their balance sheets to ensure financial stability.
Themes and subject coverage
- Subjects covered (as listed):
- Bank supervision
- Banking
- Central bank mandate
- Central banks
- Financial crises
- Financial regulation and supervision
- Financial sector policy and analysis
- Financial sector stability
- Monetary base
- Money
- Keywords (as listed) include: Bank supervision, banking policy view, banking supervision, Central bank mandate, central bank money, central banking, conceived central bank, ECB regulation, ECB statute, Europe, financial crises management, Financial sector stability, financial stability, financial system, Global, market discipline, market stability, market surveillance, Monetary base, monetary policy, WP