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
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (39)

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Chapters in this book:

Foreword , pp 1-2

Jaime Caruana

Overview and conclusions , pp 3-4

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Introduction , pp 5-6

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Part A: Preliminaries: understanding central bank finances , pp 7-18

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Part B: What financial resources do central banks have? , pp 19-42

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Part C: What level of financial resources do central banks need? , pp 43-63

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Part D: Assessing the appropriate amount of financial resources - a framework , pp 65-72

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Annex 1: Central bank accounting policies , pp 79-83

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Annex 2: Components of selected distribution schemes , pp 85-87

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Persistent link: https://EconPapers.repec.org/RePEc:bis:bisbps:71

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