Central Banking Lessons from the Crisis
May 27, 2010
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The crisis brought the financial system to the verge of systemic collapse and raised the prospect of depression and deflation. Central banks helped defuse these threats, including through exceptional measures. Considerable efforts are now under way to draw policy lessons from the crisis. For central banks, the crisis seems to provide three important lessons for policy frameworks—mainly concerning systemic financial stability.
Subject: Banking, Central bank policy, Central bank role, Central banks, Financial crisis, Financial stability, Global Financial Crisis 2008-2009, Liquidity management, Monetary policy
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Policy Papers
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