Combining bank supervision and monetary policy

Joseph Haubrich

Economic Commentary, 1996, issue Nov

Abstract: In the United States, the Federal Reserve has responsibility for both monetary policy and bank supervision. Other countries separate these functions to varying degrees. What lies behind this global diversity? Should a central bank be charged with conducting monetary policy and regulating banks, or does it make more sense ? both economic and political ? to keep these activities separate? The answer is not a simple yes or no. Rather, it appears that the right choice depends on a country?s prevailing conditions, including its financial system, its political environment, and the preferences of the public.

Keywords: Banks and banking, Central; Bank supervision; Monetary policy (search for similar items in EconPapers)
Date: 1996
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