liquidity, and in the balance sheet of the Central Bank. Such control over its own balance sheet is the core, central function … of any Central Bank, even more so than its role in setting short-term interest rates, which latter could be delegated. We …

reorganization or dissolution of many early public banks. A prominent exception was the Bank of England, whose adept management of a …

dissolution of many early public banks. A prominent exception was the Bank of England, whose adept management of a fiscally backed …