FINANCIAL STABILITY - MAJOR OBJECTIVE OF THE CENTRAL BANKS
Анотація
In terms of economic and financial globalization, central banks functions are to ensure not only monetary stability but also financial stability. The international financial crisis of 2007-2008, has shown that financial stability should be considered a priority objective, and the fact that monetary stability is a necessary and sufficient condition for the existence of financial stability is not always valid. The paper-work shows the links between monetary stability and financial stability, as well as the instruments of a macro-prudential adjustment aimed to stabilize the monetary and financial system in its macroeconomic dimension.
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