This paper looks at the relevance of a central bank's own finances for its policy work. Some central banks are exposed to significant financial risks, partly due to the environment in which they operate, and partly due to the nature of policy actions. While financial exposures and losses do not...

The financial crisis has demonstrated the need to better understand the complex interactions between the financial system and the real economy. While stability has become the main focus of the regulatory changes, the implications for growth and equity are also important. To think through these...

The volume presents and summarises the proceedings of the high level seminar jointly organised by the Bank of Russia and the Bank for International Settlements in Moscow on 18-20 July 2013 during the G20 meetings. Governors and deputy governors from around 30 BIS shareholder banks participated...