Tendencies

Pierluigi Ciocca
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Pierluigi Ciocca: Accademia Nazionale dei Lincei

Chapter 2 in Stabilising Capitalism, 2015, pp 9-15 from Palgrave Macmillan

Abstract: Abstract The original banks of issue thus progressively acquired three functions that were to become typical — although not exclusive or exhaustive — of central banking: management of the payment system and securities transactions, monetary policy and supervision of the financial system. In interpreting this triad of tasks, the problem of possible conflicts of interest was addressed by transforming central banks from private legal entities into public-law institutions, restricting their activities to those strictly necessary and requiring them to be neutral and separate from the business sector.

Keywords: Monetary Policy; Central Bank; Financial Instability; Security Transaction; Marginal Efficiency (search for similar items in EconPapers)
Date: 2015
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Persistent link: https://EconPapers.repec.org/RePEc:pal:pmschp:978-1-137-55551-9_2

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DOI: 10.1057/9781137555519_2

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