In the face of the recent financial crisis, central banks have varied the size and structure of their balance sheets. Such actions attempt to exploit additional instruments of central bank policy that go beyond the traditional monetary policy instrument (ie control over the shortterm interest...

On 24-25 June 2010, the BIS held its Ninth Annual Conference, on "The future of central banking under post-crisis mandates" in Lucerne, Switzerland. The event brought together senior representatives of central banks and academic institutions who exchanged views on this topic. This volume...