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Central Bank Legal Frameworks in the Aftermath of the Global Financial Crisis

Khan, Ashraf - 2017

Drawing on the 2016 update of the IMF's Central Bank Legislation Database, this paper examines differences in central bank legal frameworks before and after the Global Financial Crisis. Examples from select countries show that many central bank laws have undergone changes in objectives,...

Persistent link: https://www.econbiz.de/10012956503

Legal Protection : Liability and Immunity Arrangements of Central Banks and Financial Supervisors

Khan, Ashraf - 2018

This paper argues that central bank legal protection contributes to safeguarding a central bank and its financial supervisor's independence, especially for conducting monetary and financial stability policy. However, such legal protection also entails enhanced accountability. To this end, the...

Persistent link: https://www.econbiz.de/10012912490

Effectiveness of Internal Audit and Oversight at Central Banks : Safeguards Findings - Trends and Observations

Chamoun, E - 2018

Experience under the safeguards policy has shown that central banks continued to strengthen their safeguards frameworks, but that vulnerabilities prevailed in the areas of internal audit and oversight by the audit committee (AC). This paper takes steps to help unravel why this was the case,...

Persistent link: https://www.econbiz.de/10012913900

Central Bank Digital Currency and Financial Inclusion

Tan, Brandon Joel - 2023

In this paper, we develop a model incorporating the impact of financial inclusion to study the implications of introducing a retail central bank digital currency (CBDC). CBDCs in developing countries (unlike in advanced countries) have the potential to bank large unbanked populations and boost...

Persistent link: https://www.econbiz.de/10014355766

Monetary Policy Implications Central Bank Digital Currencies : Perspectives on Jurisdictions with Conventional and Islamic Banking Systems

Lukonga, Inutu - 2023

Central bank digital currencies (CBDCs) promise many benefits but, if not well designed, they could have undesired consequences, including for monetary policy. Issuing an unremunerated CBDC or a wholesale CBDC does not change the objectives of monetary policy or the operational framework for...

Persistent link: https://www.econbiz.de/10014355809

Digital Money and Central Banks Balance Sheet

Singh, Manmohan; Armas, Adrian - 2022

Digital money is a logical step in a process of continuous technological advancement in payment systems. In response, central banks are reviewing their conduct of monetary operations in light of the new shape of financial markets and systems. The impact of digital money will depend on the type...

Persistent link: https://www.econbiz.de/10014236308

Central Bank Governance and the Role of Nonfinancial Risk Management

Khan, Ashraf - 2016

This paper argues that nonfinancial risk management is an essential element of good governance of central banks. It provides a funnelled analysis, on the basis of selected literature, by (i) presenting an outline of central bank governance in general; (ii) zooming in on internal governance and...

Persistent link: https://www.econbiz.de/10012996067

Digital Money and Central Bank Operations

Kahn, Charles; Singh, Manmohan; ALwazir, Jihad - 2022

The rise of new and proposed monetary vehicles, including CBDC, stablecoins, payment service providers etc., are unprecedented. An important question for central banks is the extent to which these innovations upend the role of and implementation of monetary policy. The paper focuses on the...

Persistent link: https://www.econbiz.de/10013406679

Cross-Border Central Bank Digital Currencies, Bank Runs and Capital Flows Volatility

Popescu, Adina - 2022

Central banks around the world are increasingly exploring central bank digital currencies (CBDCs). This paper investigates the possible impacts of cross-border CBDCs on capital flows and financial stability in a simple open economy extension of a classical model of bank runs, augmented with the...

Persistent link: https://www.econbiz.de/10013406748

Aggregate Uncertainty and the Supply of Credit

Valencia, Fabian - 2013

Recent studies show that uncertainty shocks have quantitatively important effects on the real economy. This paper …-neutral shareholders and subject to limited liability, can exhibit self-insurance, and thus loan supply contracts when uncertainty …. Consistent with the theoretical predictions, increases in uncertainty reduce the supply of credit, more so for banks with lower …

Persistent link: https://www.econbiz.de/10013071363