What is it about?
This chapter aims to highlight why a redefinition of the traditional roles assumed by banks - particularly prior to the GFC has adapted to the evolutionary changes which have taken place in the financial environment over the years. New actors, supervisory regimes, changes in financial regulatory and supervisory structures also contributing to such a redefinition.
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Why is it important?
Moreover, in view of new macro prudential arrangements, traditional monetary policy tools now have to accommodate such tools as conservation and counter cyclical capital buffers as a means of addressing the changes which were not adequately provided for and addressed during the GFC. Lessons also learned during the GFC incorporate changing stances in monetary policies which used to focus on longer term horizons.
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This page is a summary of: Redefining a Role for Central Banks: The Increased Importance of Central Banks’ Roles in the Management of Liquidity Risks and Macro Prudential Supervision in the Aftermath of the Financial Crisis, SSRN Electronic Journal, Social Science Electronic Publishing,
DOI: 10.2139/ssrn.1691278.
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