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    Monetary policy, the provision of financial stability and banking supervision

    Sibert, Anne (2012) Monetary policy, the provision of financial stability and banking supervision. Other. European Parliament.

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    Abstract

    This note discusses why it might be desirable for a central bank to have a microprudential supervisory role and why a single micro-prudential supervisor might be better than a collection of national supervisors. It argues that central banks should not be macro-prudential supervisors. It describes the skills that are necessary when a central bank is the provider of financial stability and the bank supervisor, as well as the monetary policy maker. It describes the institutional features of a central bank that are necessary if providing financial stability and bank supervision are to be regarded as legitimate roles for the central bank in a democratic society. It suggests how the accountability that is necessary for carrying out these political tasks can be squared with the independence required for monetary policy.

    Metadata

    Item Type: Monograph (Other)
    School: Birkbeck Schools and Departments > School of Business, Economics & Informatics > Economics, Mathematics and Statistics
    Depositing User: Sarah Hall
    Date Deposited: 29 Apr 2014 10:31
    Last Modified: 29 Apr 2014 13:17
    URI: http://eprints.bbk.ac.uk/id/eprint/9637

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