Descriptions
The recent financial crisis has raised important questions concerning central banks’ role in the prevention, management and resolution of financial crises. As the crisis unfolded, a number of central banks were confronted with unusually challenging circumstances, which required a sharp expansion in the use of traditional intervention tools and the introduction of entirely new ones. These events had led to a reconsideration of the mandates and roles of central banks in discharging effective and sustainable conduct of their core functions. In particular, there is a need for clear governance in their conducts of monetary policy functions in combination with the additional mandate of safeguarding the stability of financial system. Underlying these sophisticated phenomena is the setup of governance structures and practices of central banks in ensuring expertise and professionalism in policy decisions, and credibility in times of economic uncertainty. In view of this, there is a pertinent need for central banks to have a clear understanding on the governance setup and arrangement that are most suitable for their own circumstances.
Target Group: The Seminar is designed for senior level officials from central banks involved in managing the governance of their organization, and those involved in policy decisions of the core functions of central banks.
