Showing 1 - 10 of 154
Experience under the safeguards policy has shown that central banks continued to strengthen their safeguards frameworks, but that vulnerabilities prevailed in the areas of internal audit and oversight by the audit committee (AC). This paper takes steps to help unravel why this was the case,...
Persistent link: https://www.econbiz.de/10011866392
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...
Persistent link: https://www.econbiz.de/10012155156
This paper surveys decision-making roles of governing bodies of central banks that have formally adopted inflation targeting as a monetary framework. Governance practices seek to balance institutional independence needed for monetary policy credibility with accountability required to protect...
Persistent link: https://www.econbiz.de/10014404225
require future primary surpluses. We argue that liquidity services provided by sovereign debt may indeed lead to a "free lunch …
Persistent link: https://www.econbiz.de/10013170526
for draining excess liquidity in the banking system. While recognizing that there are practical reasons for using central …
Persistent link: https://www.econbiz.de/10014396940
The shift to inflation targeting has contributed to the relatively low inflation observed in some emerging market economies although, as noted by many economists, the preconditions required for a successful implementation were not in place. The existence of managed exchange rate regimes, a...
Persistent link: https://www.econbiz.de/10014402285
This paper evaluates ways to protect highly dollarized banking systems from systemic liquidity runs (such as the ones … the use of limited dollar liquidity to ensure the convertibility of transactional deposits with a mechanism that … automatically limits the convertibility of dollar term deposits once triggered by a predetermined decline in banks'' liquidity …
Persistent link: https://www.econbiz.de/10014404199
Persistent link: https://www.econbiz.de/10011286636
Persistent link: https://www.econbiz.de/10001209258
Persistent link: https://www.econbiz.de/10012127675