Issues in the Governance of Central Banks

Issues in the Governance of Central Banks
Author:
Publisher:
Total Pages: 189
Release: 2009
Genre: Banks and banking, Central
ISBN: 9789291317912

This report by the Central Bank Governance Group presents information intended to help decision-makers set up governance arrangements that are most suitable for their own circumstances. The report draws on a large body of information on the design and operation of central banks that the BIS has brought together since it initiated work on central bank governance in the early 1990s. The need to deal with chronic inflation in the 1970s and 1980s prompted the identification of price stability as a formal central bank objective and led to a significant reworking of governance arrangements. The current global financial crisis could have equally important implications for central banks, particularly with respect to their role in fostering financial stability. Although it is too early to know how central banking will change as a result, the report takes an important first step in identifying governance questions that the crisis poses.

Promoting Global Monetary and Financial Stability

Promoting Global Monetary and Financial Stability
Author: Claudio Borio
Publisher: Cambridge University Press
Total Pages: 287
Release: 2020-04-30
Genre: Business & Economics
ISBN: 1108495982

A multi-faceted look at what global central bank cooperation has - and has not - achieved over the past half century.

The Federal Reserve System Purposes and Functions

The Federal Reserve System Purposes and Functions
Author: Board of Governors of the Federal Reserve System
Publisher:
Total Pages: 0
Release: 2002
Genre: Banks and Banking
ISBN: 9780894991967

Provides an in-depth overview of the Federal Reserve System, including information about monetary policy and the economy, the Federal Reserve in the international sphere, supervision and regulation, consumer and community affairs and services offered by Reserve Banks. Contains several appendixes, including a brief explanation of Federal Reserve regulations, a glossary of terms, and a list of additional publications.

How Do Central Banks Talk?

How Do Central Banks Talk?
Author: Alan S. Blinder
Publisher: Centre for Economic Policy Research
Total Pages: 150
Release: 2001
Genre: Business & Economics
ISBN: 9781898128601

Not long ago, secrecy was the byword in central banking circles, but now the unmistakable trend is towards greater openness and transparency. This, the third Geneva Report on the World Economy, describes and evaluates some of the changes in how central banks talk to the markets, to the press, and to the public. The report first assesses the case for transparency ? defined as providing sufficient information for the public to understand the policy regime ? and concludes that it is very strong, based on both policy effectiveness and democratic accountability. It then examines what should be the content of communication and argues that central banks ought to spell out their long-run objectives and methods. It then investigates the link between the decision-making process and central bank communication, drawing a distinction between individualistic and collegial committees. The report concludes with a review of the communications strategies of some of the main central banks.

The Basel Committee on Banking Supervision

The Basel Committee on Banking Supervision
Author: Charles Goodhart
Publisher: Cambridge University Press
Total Pages: 619
Release: 2011-08-25
Genre: Business & Economics
ISBN: 1139499386

The Basel Committee on Banking Supervision (BCBS) sets the guidelines for world-wide regulation of banks. It is the forum for agreeing international regulation on the conduct of banking. Based on special access to the archives of the BCBS and interviews with many of its key players, this book tells the story of the early years of the Committee from its foundation in 1974/5 right through until 1997 - the year that marks the watershed between the Basel I Accord on Capital Adequacy and the start of work on Basel II. In addition, the book covers the Concordat, the Market Risk Amendment, the Core Principles of Banking and all other facets of the work of the BCBS. While the book is primarily a record of the history of the BCBS, it also provides an assessment of its actions and efficacy. It is a major contribution to the historical record on banking supervision.

Central Bank Cooperation at the Bank for International Settlements, 1930-1973

Central Bank Cooperation at the Bank for International Settlements, 1930-1973
Author: Gianni Toniolo
Publisher: Cambridge University Press
Total Pages: 780
Release: 2005-05-16
Genre: Business & Economics
ISBN: 9780521845519

Covers the history of the Bank for International Settlements (BIS), from its founding in Basel in 1930 to the end of the Bretton Woods system in 1973, with a focus on cooperation among the main central banks for the stability and efficiency of the international monetary system.

The Role of Board Oversight in Central Bank Governance: Key Legal Design Issues

The Role of Board Oversight in Central Bank Governance: Key Legal Design Issues
Author: Wouter Bossu
Publisher: International Monetary Fund
Total Pages: 71
Release: 2019-12-27
Genre: Business & Economics
ISBN: 1513524054

This paper discusses key legal issues in the design of Board Oversight in central banks. Central banks are complex and sophisticated organizations that are challenging to manage. While most economic literature focuses on decision-making in the context of monetary policy formulation, this paper focuses on the Board oversight of central banks—a central feature of sound governance. This form of oversight is the decision-making responsibility through which an internal body of the central bank—the Oversight Board—ensures that the central bank is well-managed. First, the paper will contextualize the role of Board oversight into the broader legal structure for central bank governance by considering this form of oversight as one of the core decision-making responsibilities of central banks. Secondly, the paper will focus on a number of important legal design issues for Board Oversight, by contrasting the current practices of the IMF membership’s 174 central banks with staff’s advisory practice developed over the past 50 years.