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Author: Carlo Cottarelli
Publisher:
Published: 1993
Total Pages: 57
ISBN-13: 9781557753588
DOWNLOAD EBOOK →This paper examines central bank independence with reference to the constraints on central bank credit to the government, focusing on how such credit should be regulated. It discusses why credit should be contsrained, and in which forms, and how to implement those constraints.
Author: Mr.Luis Ignacio Jácome
Publisher: International Monetary Fund
Published: 2012-01-01
Total Pages: 44
ISBN-13: 1463957394
DOWNLOAD EBOOK →Using a central bank legislation database, this paper documents and analyzes worldwide institutional arrangements for central bank lending to the government and identifies international practices. Key findings are: (i) in most advanced countries, central banks do not finance government expenditure; (ii) in a large number of emerging and developing countries, short-term financing is allowed in order to smooth out tax revenue fluctuations; (iii) in most countries, the terms and conditions of these loans are typically established by law, such that the amount is capped at a small proportion of annual government revenues, loans are priced at market interest rates, and their maturity falls within the same fiscal year; and (iv) in the vast majority of countries, financing other areas of the state, such as provincial governments and public enterprises, is not allowed. The paper does not address central banks' financial support during financial crises.
Author: Paul Tucker
Publisher: Princeton University Press
Published: 2019-09-10
Total Pages: 662
ISBN-13: 0691196303
DOWNLOAD EBOOK →Tucker presents guiding principles for ensuring that central bankers and other unelected policymakers remain stewards of the common good.
Author: Board of Governors of the Federal Reserve System
Publisher:
Published: 2002
Total Pages: 0
ISBN-13: 9780894991967
DOWNLOAD EBOOK →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.
Author:
Publisher:
Published: 2009
Total Pages: 189
ISBN-13: 9789291317912
DOWNLOAD EBOOK →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.
Author: Mr.Giovanni Dell'Ariccia
Publisher: International Monetary Fund
Published: 2018-09-07
Total Pages: 54
ISBN-13: 1484359623
DOWNLOAD EBOOK →This paper reviews empirical and theoretical work on the links between banks and their governments (the bank-sovereign nexus). How significant is this nexus? What do we know about it? To what extent is it a source of concern? What is the role of policy intervention? The paper concludes with a review of recent policy proposals.
Author: Mr.Patrick Downes
Publisher: International Monetary Fund
Published: 1991-06-15
Total Pages: 476
ISBN-13: 9781557751850
DOWNLOAD EBOOK →Central Banks should enjoy a fair degree of autonomy in pursuing price stability to promote long-run growth and prosperity. This volume, edited by Patrick Downes and Reza Vaez-Zadeh, contains the papers presented at the fifth IMF seminar on central banking issues in November 1990. The theme was the interdependence of central bank functions and the role of central bank autonomy.
Author: International Monetary Fund
Publisher: International Monetary Fund
Published: 1994-12-01
Total Pages: 60
ISBN-13: 1451856776
DOWNLOAD EBOOK →In economies in transition, the development of financial markets is a common objective linking the monetary and fiscal authorities, while monetary and public debt management cannot be strictly separated. This calls for close coordination of objectives and instruments of monetary and debt management, and the development of supporting institutional and operational arrangements. Key aspects of these arrangements are surveyed.
Author: Mr. Marc Zelmer
Publisher: International Monetary Fund
Published: 2001-12-01
Total Pages: 27
ISBN-13: 145524063X
DOWNLOAD EBOOK →The limited supply of government securities in some industrial countries has important ramifications for the operating techniques used by central banks to implement monetary policy, provide credit to the financial sector, and also for the assets they hold on their balance sheets. The paper reviews the salient facts regarding industrial central bank balance sheets and operating techniques, and outlines different options for dealing with a limited supply of government securities. The main conclusion is that central banks may wish to consider extending credit using a broad range of assets as collateral, and engage in outright transactions of securities guaranteed by financial institutions.
Author: Josh Ryan-Collins
Publisher:
Published: 2014-01-31
Total Pages: 186
ISBN-13: 9781908506542
DOWNLOAD EBOOK →Based on detailed research and consultation with experts, including the Bank of England, this book reviews theoretical and historical debates on the nature of money and banking and explains the role of the central bank, the Government and the European Union. Following a sell out first edition and reprint, this second edition includes new sections on Libor and quantitative easing in the UK and the sovereign debt crisis in Europe.
