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Central bank finances

David Archer and Paul Moser-Boehm ()

No 71 in BIS Papers from Bank for International Settlements

Abstract: 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 hamper central banks' operational capabilities, they may weaken the effectiveness of central bank policy transmission. Against this backdrop, the paper analyses the determinants of a central bank's financial position and the possible implications of insufficient financial resources for policymaking. It also provides a conceptual framework for considering the question of whether central banks have sufficient financial resources.

Date: 2013 Written 2013-04
ISBN: 92-9131-931-7
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http://www.bis.org/publ/bppdf/bispap71.pdf Full PDF document (application/pdf)
http://www.bis.org/publ/bppdf/bispap71.htm (text/html)

Chapters in this book:

Foreword , pp 1-2 Downloads
Jaime Caruana
Overview and conclusions , pp 3-4 Downloads
Bank for International Settlements
Introduction , pp 5-6 Downloads
Bank for International Settlements
Part A: Preliminaries: understanding central bank finances , pp 7-18 Downloads
Bank for International Settlements
Part B: What financial resources do central banks have? , pp 19-42 Downloads
Bank for International Settlements
Part C: What level of financial resources do central banks need? , pp 43-63 Downloads
Bank for International Settlements
Part D: Assessing the appropriate amount of financial resources - a framework , pp 65-72 Downloads
Bank for International Settlements
Annex 1: Central bank accounting policies , pp 79-83 Downloads
Bank for International Settlements
Annex 2: Components of selected distribution schemes , pp 85-87 Downloads
Bank for International Settlements

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