Reinventing the Role of Central Banks in Financial Stability
Domenico Lombardi and
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Lawrence Schembri: Bank of Canada, http://www.bankofcanada.ca/
Bank of Canada Review, 2016, vol. 2016, issue Autumn, 1-11
Central banks contribute importantly to the promotion of financial stability given their sys-tem-wide macro-financial perspective and existing roles as lender of last resort and overseer of systemic payment systems. Since the global financial crisis, the financial system role of central banks has expanded to place more emphasis on the prevention of financial stress and crises. Central banks work with other responsible authorities to enhance financial system resilience and to assess and mitigate financial vulnerabilities and systemic risk.
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