This paper considers the position of national central banks within the ESCB. The fundamental framework underlying the ESCB is that of a system of central banks in which component institutions are individually and collectively responsible for carrying out various tasks. Within this framework, we...

On 25-26 June 2009, the BIS held its Eighth Annual Conference on "Financial System and Macroeconomic Resilience: Revisited" in Basel, Switzerland. The event brought together senior representatives of central banks and academic institutions who exchanged views on this topic. This volume contains...