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Journal articles on the topic 'Central Monetary unions Banks and banking'

Author: Grafiati

Published: 4 June 2021

Last updated: 9 February 2022

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1

Perkins, Andrew James. "The Legal and Economic Questions posed by the German Constitutional Court’s decision in the Public Sector Purchase Programme (PSPP) Case." ATHENS JOURNAL OF LAW 7, no. 3 (2021): 399–412. http://dx.doi.org/10.30958/ajl.7-3-7.

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This paper seeks to explore the PSPP decision of the German Constitutional Court and its effect on the monetary policy decisions taken by central banks. It begins by exploring the decision and its effect in Germany, together with its wider implications for the European Monetary Union before moving onto consider the standard of review that should be applied by the Courts when they are required to review central banks actions. Conclusions are reached to show that any standard of review should be limited because of the unique economic and political circumstances in which central bank decision mak

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MUKANOV, Malik Rsbaevich, and Ernar Nurlanovich BEGALIEV. "The Current State of the Monetary Sphere of Kazakhstan, Kyrgyzstan, Tajikistan within the Framework of Changes in the Legislation." Journal of Advanced Research in Law and Economics 9, no. 5 (2019): 1708. http://dx.doi.org/10.14505//jarle.v9.5(35).24.

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The article discusses the current state of the monetary – credit sphere in the former states of the Soviet Union. The authors note that, the collapse of the Soviet Union in 1991, which led to the defragmentation of the monetary system, is an important event in the formation of the financial sector in Central Asia. The single monetary and financial system, which was adapted to the conditions of the planned economy, had started rapidly falling apart. The result was a break of the traditionally existing economic ties. It is important to note that the monetary policy has a direct impact on t

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Schwarz, Claudia, Polychronis Karakitsos, Niall Merriman, and Werner Studener. "Why Accounting Matters: A Central Bank Perspective." Accounting, Economics and Law - A Convivium 5, no. 1 (2015): 1–42. http://dx.doi.org/10.1515/ael-2014-0023.

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AbstractThis paper analyses how accounting frameworks can affect three important areas of responsibility of many central banks, namely monetary policy, financial stability and banking supervision. The identified effects of accounting rules and accounting information on the activities of a central bank are manifold. First, the effectiveness of monetary policy crucially hinges on the financial independence of a central bank, which can be evidenced, inter alia, by its financial strength. Using a new simulation of the financial results of the European Central Bank (ECB), this paper shows that the

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Dietz, Sara Elisa. "The ECB as Lender of Last Resort in the Eurozone? An analysis of an optimal institutional design of Emergency Liquidity Assistance competence within the context of the Banking Union." Maastricht Journal of European and Comparative Law 26, no. 5 (2019): 628–68. http://dx.doi.org/10.1177/1023263x19855628.

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The latest financial crises in Europe and the United States have reminded us of the importance of the role of central banks as Lender of Last Resort. This article examines the current legal framework in the European Union with regard to the allocation of Lender of Last Resort competence, which until now has been exercised by the national central banks in the Eurozone. The new Emergency Liquidity Assistance Agreement 2017 sustains this institutional design, leaves the Emergency Liquidity Assistance competence with the national central banks and specifies the cooperation between the European Cen

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Koutsiaras, Nikos. "Making a virtue of necessity? The economics and politics of the ECB’s monetary policy, 1999-2019." Region & Periphery, no. 9 (July 29, 2020): 37. http://dx.doi.org/10.12681/rp.23791.

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The ECB could hardly afford political neutrality, even in the monetary union’s “honeymoon phase”. Being a stateless central bank entailed striking compromises between confl icting (national) monetary policy preferences. However, such compromises would often be reached at the expense of theoretical consistency and to the detriment of coherence in the ECB’s monetary policy strategy. And, perhaps inevitably, they would also bear the mark of the dominant partner in the European Monetary System, that is prior to the establishment of the monetary union, now also being the biggest subscriber to the E

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Majewska-Jurczyk, Barbara. "European Banking Union – an institutional analysis." Central European Review of Economics and Management 5, no. 1 (2020): 59–75. http://dx.doi.org/10.29015/cerem.896.

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Aim: The Banking Union is an important step towards a genuine Economic and Monetary Union. The strengthening of the European banking system has become a topic of debate since the 2008 crisis when it became clear that stability and security of the system security may require increased supervision over operations conducted. The Banking Union was created to avoid the situation that taxpayers are first in line to pay for bailing out ailing banks. The Banking Union consists of three pillars: 1) the Single Supervisory Mechanism (SSM), which centralizes supervision of European banks around the Europe

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Andolfatto, David, Aleksander Berentsen, and Fernando M. Martin. "Money, Banking, and Financial Markets." Review of Economic Studies 87, no. 5 (2019): 2049–86. http://dx.doi.org/10.1093/restud/rdz051.

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Abstract The fact that money, banking, and financial markets interact in important ways seems self-evident. The theoretical nature of this interaction, however, has not been fully explored. To this end, we integrate the Diamond (1997, Journal of Political Economy105, 928–956) model of banking and financial markets with the Lagos and Wright (2005, Journal of Political Economy113, 463–484) dynamic model of monetary exchange—a union that bears a framework in which fractional reserve banks emerge in equilibrium, where bank assets are funded with liabilities made demandable in government money, whe

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Dudchenko, Victoria. "EVOLUTION OF CENTRAL BANKS." Economic Analysis, no. 30(1, Part 1) (2020): 84–89. http://dx.doi.org/10.35774/econa2020.01.01.084.

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Introduction. Throughout the centuries there took place a process of central banks’ development that reflected on the area of target defining, establishing the relationship with government, interconnection with financial market participants, inner management processes. This institute’s evolution from the first bank of issue creation till the modern central bank, including the supranational central bank in the European Union, is characterized by complicated tools of the change of policy, practice, institutional structure, aims and status. Nowadays the next stage of central banks’ development oc

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9

Drea, Eoin. "The Bank of England, Montagu Norman and the internationalisation of Anglo-Irish monetary relations, 1922–1943." Financial History Review 21, no. 1 (2013): 59–76. http://dx.doi.org/10.1017/s0968565013000231.

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The granting of a £7,000m bilateral loan by the British government to the Republic of Ireland in October 2010 highlights the banking co-dependence of modern Anglo-Irish relations. This article provides a Bank-of-England-centred perspective on the development of Irish monetary institutions from the granting of Irish monetary independence in December 1921 to the establishment of the Central Bank of Ireland in 1943. Irrespective of unresolved Anglo-Irish political issues, the Bank of England's Irish policy during this period was based on a strict adherence to Montagu Norman's key central banking

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Melnic, Florentina. "The Financial Crisis Response. Comparative Analysis Between European Union And USA." Review of Economic and Business Studies 10, no. 1 (2017): 129–55. http://dx.doi.org/10.1515/rebs-2017-0051.

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Abstract This paper reviews the measures adopted by central banks from the most important economies during the crisis and assess their effectiveness. It is important for policy makers to identify which measures were effective in limiting the financial system distress in order to adopt the appropiate measure during future crisis. In case of US, TARP was the most important program for banking system and it was effective in reducing banks’ contribution to systemic risk and banks’ default probabilities. But TARP also conducted to a reduction in loans growth and create incentives for higher risk-ta

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Stepanov, Oleg, and Denis Pechegin. "Failure to repatriate funds in foreign currency from abroad and modern issues of currency regulation." Bratislava Law Review 2, no. 1 (2018): 26–35. http://dx.doi.org/10.46282/blr.2018.2.1.94.

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The monetary policy of the European Union has recently undergone changes that cannot but have an impact on national economies. Thus, starting in 2018, the new rules for calculating the liquidity of banks and the ratio of borrowed funds to assets will come into full force in the European Union. Several large banks in France, dissatisfied with the policy of the European Central Bank (ECB), even appealed to the European Court of Justice for a change in the rules. Meanwhile, this is another step towards establishing financial transparency and strengthening the banking system. Meanwhile, at the int

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Panova, G. S. "BANKS AND BANKING BUSINESS IN RUSSIA IN THE FACE OF INTERNATIONAL SANCTIONS." MGIMO Review of International Relations, no. 1(46) (February 28, 2016): 154–68. http://dx.doi.org/10.24833/2071-8160-2016-1-46-154-168.

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The article provides an analysis of the present condition and prospects of development of banks and the banking business in the face of international sanctions. It identifies current trends, problems and the risks of banks and banking in Russia and in the world. Special attention is paid to the analysis of sectoral international sanctions against the Russian banks and the need to minimize negative impact of sanctions on the banking business, both nationally and internationally. Great value in these conditions has the state monetary policy. Anti-crisis policy pursued by the Bank of Russia, in a

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David, Delia, Shailendra Kumar Rai, and Luminita Paiusan. "Appreciation of the Swiss Franc and its Impact on Romania and other Central and Eastern European Countries." Studia Universitatis „Vasile Goldis” Arad – Economics Series 25, no. 4 (2015): 11–24. http://dx.doi.org/10.1515/sues-2015-0024.

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Abstract The decision of the Swiss National Bank of giving up the fixed rate of 1,2 Euro/CHF on the 15th of January 2015, a rate established at its admission to the Monetary Economic Union, had consequences on Central and Eastern European countries because a great part of the credits granted were in Swiss francs. In all these countries, the national currencies depreciated and the financial market rates were reduced. Regional banks started to face difficulties regarding the management of the situation and were under the necessity of finding solutions to avoid the risk of not recovering the gran

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Ristić, Kristijan, and Aleksandar Živković. "Assessment of the European banking regulatory framework in light of its significance for the Republic of Serbia." Bankarstvo 49, no. 3 (2020): 77–101. http://dx.doi.org/10.5937/bankarstvo2003077r.

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The debt crisis in the European Union is known to be caused by the interdependence of banking and state financial stability, and, together with the non-existence of the fiscal union, it has taken on the existential dimensions of the EU project itself. Under the guise of financial fragmentation within the financial markets of the Eurozone, and from the aspect of the outbreak of the crisis, EU member states resorted to national interventions, thus closing national banking and financial markets, which ultimately resulted in deepened and stronger structural foundation of the crisis and its economi

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Beroš, Marta Božina. "The ECB’s accountability within the SSM framework: Mind the (transparency) gap." Maastricht Journal of European and Comparative Law 26, no. 1 (2019): 122–35. http://dx.doi.org/10.1177/1023263x18822790.

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With the establishment of the Banking Union, the European Central Bank has become the main banking supervisor within the framework of the Single Supervisory Mechanism. Unlike monetary policy tasks, which the European Central Bank performs in line with numerically set objectives, supervisory ones are more difficult to quantify. At the same time, supervisory decisions entail a margin of discretion, which opens the way for potential ‘political interferences’ within the supervisory process. Considering that in supervision the European Central Bank disposes with the same level of independence as in

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Szunke, Aleksandra. "A new paradigm of modern central banking." Journal of Governance and Regulation 2, no. 2 (2013): 75–78. http://dx.doi.org/10.22495/jgr_v2_i2_p6.

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The changes in the modern monetary policy, which took place at the beginning of the twenty-first century, in response to the global financial crisis led to the transformation of the place and the role of central banks. The strategic aim of the central monetary institutions has become preventing financial instability. So far, central banks have defined financial stability as a public good, which took care independently of other monetary purposes (Pyka, 2010). Unconventional monetary policy resulted in changes the global central banking. The aim of the study is to identify a new paradigm of the

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Audu, Nathan. "E-Banking and Monetary Policy in Nigeria." Athens Journal of Τechnology & Engineering 8, no. 3 (2021): 237–58. http://dx.doi.org/10.30958/ajte.8-3-3.

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The goal of this paper is to assess the impact of e-banking, which are distinct from conventional banking systems, on central banks’ monetary policy. E-banking poses a challenge to central banks’ ability to control interest rates and it may also increase endogenous financial instability. The challenge to interest rate control stems from the possibility that e-banking may diminish the financial system’s demand for central bank liability, rendering central banks unable to conduct meaningful open market operations. Increased financial instability could emerge from the increased elasticity of priv

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18

Kaushik, Surendra K., and Raymond H. Lopez. "Profitability of Credit Unions, Commercial Banks and Savings Banks: A Comparative Analysis." American Economist 40, no. 1 (1996): 66–78. http://dx.doi.org/10.1177/056943459604000109.

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The liberalization of product and price competition among depository intermediaries in the United States has tended to make them more similar since enactment of the Depository Institutions Deregulation and Monetary Control Act in 1980 (DIDMCA). Credit unions have developed into highly efficient organizations for meeting the basic financial needs of their members. Credit unions, although only one-twelfth their size, are at least as profitable as commercial banks and savings banks. The savings banking industry has maintained its competitive profitability as the industry has shrunk in the late 19

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Sarkar, Sanjukta, and Rudra Sensarma. "Risk-taking Channel of Monetary Policy: Evidence from Indian Banking." Margin: The Journal of Applied Economic Research 13, no. 1 (2018): 1–20. http://dx.doi.org/10.1177/0973801018800088.

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Some recent articles have studied the link between the central bank’s monetary policy stance and the risk-taking behaviour of banks in the context of advanced economies. Loose monetary policy can encourage banks to reach for yield, which will increase their share of risky assets, and also induce them to use more short-term funding. We empirically examine the existence of this risk-taking channel of monetary policy transmission in India. We find that expansionary monetary policy may increase default risk particularly for foreign banks and new private sector banks. We also find that tightening o

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Bidabad, Bijan. "Islamic Monetary Policy and Rastin Swap Bonds." International Journal of Islamic Banking and Finance Research 3, no. 2 (2019): 1–16. http://dx.doi.org/10.46281/ijibfr.v3i2.269.

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Purpose: This paper aims to examine monetary instruments in Islamic central banking framework. As a conclusion, to revive Islamic monetary policy, we should provide some public equity-based instrument as a necessary replacement for conventional bonds and treasury bills to activate non-usury open market operations. Design: We define a type of new negotiable bond as: “Rastin Swap Bonds (RSBs)”, which is based on swapping money between two persons for two different periods. Findings: RSB is a financial paper that observes the right for the lender to borrow an equal amount to his lendi

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Carvalho, Carlos Eduardo, Desirée Almeida Pires, Marcel Artioli, and Giuliano Contento de Oliveira. "Cryptocurrencies: technology, initiatives of banks and central banks, and regulatory challenges." Economia e Sociedade 30, no. 2 (2021): 467–96. http://dx.doi.org/10.1590/1982-3533.2021v30n2art08.

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Abstract This paper analyses the impacts of the innovation known as distributed ledger technology (DLT) on the monetary system and on financial activities. Private cryptocurrencies, such as Bitcoin, are permissionless means of payment, based on blockchain, a form of DLT. Evaluations suggested that these private cryptocurrencies could compete with the banks payment systems and even supplant state currency. The development of these technologies has the potential to modify profoundly monetary and financial practices, but there are no indications that they may threaten the centrality of state mone

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Hancké, Bob. "The missing link. Labour unions, central banks and monetary integration in Europe1." Transfer: European Review of Labour and Research 19, no. 1 (2013): 89–101. http://dx.doi.org/10.1177/1024258912469347.

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This article examines the problems of the single currency in light of the organization of labour relations in the Member States and their interaction with monetary policies. Continental (western) Europe consists of two very different systems of employment and labour relations, roughly coinciding with ‘coordinated market economies’ in the north-west of the continent, and ‘Mixed Market Economies’ in the south. These differences in employment relations and wage-setting systems implied that, against the background of a relatively restrictive one-size-fits-all monetary policy in place since 1999, t

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Pietryka, Ilona. "The efficiency of monetary policy instruments of the European Central Bank in liquidity regulating in euro area." Equilibrium 5, no. 2 (2010): 195–208. http://dx.doi.org/10.12775/equil.2010.035.

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Mechanism of forming of liquidity level of national central banks participating in ESCB is clear. It is based on centralized and decentralized operations. The ECB decides on the direction of monetary policy, and the national central banks implement monetary policy taking into account those guidelines as well as the conditions of their country. The aim of the paper is to estimate the efficiency of the EBC monetary policy in regulating the liquidity of the banking system in euro area. The aim was achieved by characterizing the organizational and balance relationship banks of the Eurosystem becau

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Fromage, Diane. "Guaranteeing the ECB’s democratic accountability in the post-Banking Union era: An ever more difficult task?" Maastricht Journal of European and Comparative Law 26, no. 1 (2019): 48–62. http://dx.doi.org/10.1177/1023263x18822788.

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Following the Great Financial Crisis, the European Central Bank’s functions have been significantly altered. It is now involved in the functioning of a variety of European Union bodies and agencies, new powers in the field of banking supervision have been attributed to it and it has resorted to unconventional monetary policy. Such a concentration of powers arguably gives rise to issues of accountability and institutional balance within the European Union: (i) the resulting institutional framework is particularly complex and difficult to understand; (ii) the numerous functions the European Cent

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Szunke, Aleksandra. "Changes in monetary policy after the crisis - towards preventing banking sector instability." Corporate Ownership and Control 11, no. 3 (2014): 470–76. http://dx.doi.org/10.22495/cocv11i3conf2p8.

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The instability of the banking sector has become the subject of wider scientific research during the global financial crisis. The financial crisis of the first decade of the twenty-first century began in the U.S. subprime mortgage market and quickly spread to the whole banking sector in the United States as well as in many countries of the global economy. Among five major American investment banks - Lehman Brothers went bankrupt, Bear Stearns and Merrill Lynch were taken over by other banks, and Goldman Sachs and Morgan Stanley were transformed into commercial banks, which were covered by the

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Zelenkevich, Marina, and Natallia Bandarenka. "ASSESSMENT OF DIRECTION FOR COORDINATION OF MONETARY REGULATION OF INVESTMENT IN THE INTEGRATION UNIONS." Zeszyty Naukowe Uniwersytetu Przyrodniczo-Humanistycznego w Siedlcach. Seria: Administracja i Zarządzanie, no. 53(126) (January 27, 2021): 27–36. http://dx.doi.org/10.34739/zn.2020.53.03.

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In the context of globalization and regionalization, central banks pursuing monetary policy in the country at the same time become subjects of monetary regulation within the framework of the integrational associations of which they are members. The purpose of the article is to assess the impact of monetary policy on investment and economic growth in integration unions and determine the appropriateness of their coordination. To achieve the goal, a method of correlation-regression analysis is proposed, one which allows for the identifying and assessing of the degree of influence of certain direc

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Williamson, Stephen D. "Current Federal Reserve Policy under the Lens of Economic History: A Review Essay." Journal of Economic Literature 54, no. 3 (2016): 922–34. http://dx.doi.org/10.1257/jel.20151354.

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This review essay reviews the volume edited by Owen Humpage, Current Federal Reserve Policy under the Lens of Economic History: Essays to Commemorate the Federal Reserve System’s Centennial, and provides a broader perspective on central-banking issues. The papers in the Humpage volume address various aspects of central banking history, money, and private banking, with a focus on putting recent Fed policies in perspective. The topics covered include the role of the central bank as lender of last resort, the effects of open-market operations versus central-bank lending, central-bank independence

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Burlachkov, V. K. "Negative interest rates as a consequence of the transformation of monetary arrangements in modern economy: A literature review." Finance and Credit 26, no. 4 (2020): 856–73. http://dx.doi.org/10.24891/fc.26.4.856.

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Subject. The article considers negative interest rates applied by both central and commercial banks on deposits and loans under conditions of significant changes in monetary arrangements of the modern economy. Currently, the number of central and commercial banks using such interest rates tends to increase. Objectives. The aim is to review theoretical and practical scientific studies on identifying the root causes of using the negative interest rates and the implications of this practice in the modern economy. Methods. The study involves methods of induction, deduction, synthesis, and comparat

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Apergis, Nicholas, and Chi Keung Marco Lau. "How deviations from FOMC’s monetary policy decisions from a benchmark monetary policy rule affect bank profitability: evidence from U.S. banks." Journal of Financial Economic Policy 9, no. 4 (2017): 354–71. http://dx.doi.org/10.1108/jfep-02-2017-0008.

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Purpose This paper aims to provide fresh empirical evidence on how Federal Open Market Committee (FOMC) monetary policy decisions from a benchmark monetary policy rule affect the profitability of US banking institutions. Design/methodology/approach It thereby provides a link between the literature on central bank monetary policy implementation through monetary rules and banks’ profitability. It uses a novel data set from 11,894 US banks, spanning the period 1990 to 2013. Findings The empirical findings show that deviations of FOMC monetary policy decisions from a number of benchmark linear and

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Redenius, Scott A. "Designing a national currency: antebellum payment networks and the structure of the national banking system." Financial History Review 14, no. 2 (2007): 207–28. http://dx.doi.org/10.1017/s0968565007000546.

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As reflected in the April 2006 issue of the Financial History Review, monetary historians remain divided over the central features of the US monetary union and their contribution to US economic development. In that issue – which focused on the monetary union formed by the Constitution and early federal monetary legislation – Ronald Michener and Robert E. Wright focused on the creation of a uniform unit of account defined in terms of specie. The establishment of a uniform unit of account ‘simplified domestic and international transactions’ compared with the colonial period when ‘[e]conomic calc

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Vasylchyshyn, Oleksandra. "MAIN DIRECTIONS OF CRYPTOCURRENCY INFLUENCE ON THE MONETARY POLICY AND FINANCIAL SAFETY OF BANKING SYSTEMS." Economic Analysis, no. 27(4) (2017): 152–60. http://dx.doi.org/10.35774/econa2017.04.152.

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Introduction. The article deals with the peculiarities of the development of the market of cryptocurrency. The main directions of the negative influence of the growth of the capitalization of cryptocurrency market on the monetary policy of the central banks and the financial security of the banking systems are outlined. Possible variants of creation of national cryptocurrencies are investigated. The necessity of introduction of the blockchain system into the practice of organizing of currency turnover and functioning of banking systems is substantiated. Purpose. The article aims to study the i

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Phelan, Craig. "Unions, central banks, and EMU: labour market institutions and monetary integration in Europe." Labor History 55, no. 5 (2014): 654. http://dx.doi.org/10.1080/0023656x.2014.969489.

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MISHCHENKO, Volodymyr, Svitlana NAUMENKOVA, and Svitlana MISHCHENKO. "Central bank digital currency: the future of institutional changes in the banking sector." Fìnansi Ukraïni 2021, no. 2 (2021): 26–48. http://dx.doi.org/10.33763/finukr2021.02.026.

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The purpose of the article is to reveal the essence and features of the introduction of digital currency of central banks and their impact on the conditions of monetary policy, financial stability, as well as institutional transformations in the development of national banking systems. The study is based on an analysis of projects of issuance and use of digital currencies of the ECB and central banks of leading countries, as well as the results of pilot projects of the National Bank of China on the use of the digital yuan and NBU on the e-hryvnia circulation. It is proved that digital currency

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Sinelnikova-Muryleva, Elena V. "Central bank digital currencies: Potential risks and benefits." Voprosy Ekonomiki, no. 4 (April 13, 2020): 147–59. http://dx.doi.org/10.32609/0042-8736-2020-4-147-159.

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A growing activity has recently been watched in the sphere of central bank digital currencies (CBDC) creation, dictated by the desire of monetary authorities to increase the efficiency of payment systems and create an alternative to stablecoin projects like Libra. The paper discusses various types of CBCDs. Special attention is paid to potential risks and benefits associated with the emission of CBDCs, as well as their consequences for the banking sector and monetary policy. The first important issue associated with CBDC emission is the potential reduction of the role of the traditional bankin

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Iversen, Torben. "Wage Bargaining, Central Bank Independence, and the Real Effects of Money." International Organization 52, no. 3 (1998): 469–504. http://dx.doi.org/10.1162/002081898550635.

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The effects of financial capital mobility on monetary policy autonomy are relatively well understood, but the importance of particular monetary regimes in distinct national-institutional settings is not. This article is a theoretical and empirical exploration of the effects of monetary policy regimes on unemployment in different national wage-bargaining settings. Based on a rational expectations, two-stage game of the interaction between the wage behavior of labor unions and the monetary policies of governments, I argue that monetary policies have real (employment) effects in all but the most

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van ’t Klooster, Jens. "Central Banking in Rawls’s Property-Owning Democracy." Political Theory 47, no. 5 (2018): 674–98. http://dx.doi.org/10.1177/0090591718810377.

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The dramatic events of the crisis have reignited debates on the independence of central banks and the scope of their mandates. In this article, I contribute to the normative understanding of these developments by discussing John Rawls’s position in debates of the 1950s and 1960s on the independence of the US Federal Reserve. Rawls’s account of the central bank in his property-owning democracy, Democratic Central Banking (DCB), assigns authority over monetary policy directly to the government and prioritizes low unemployment over price stability. I contrast DCB with Central Bank Independence (C

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Judy, Haidar Hamza, and Noufel Smaili . "Governance of Central Banks as an Entry Point to Establish the Credibility of Monetary Policy." Iraqi Administrative Sciences Journal 1, no. 2 (2017): 120–42. http://dx.doi.org/10.33013/iqasj.v1n2y2017.pp120-142.

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Since the recent Global Financial Crisis, Central Banks Have extensive Powers and Objectives include both Monetary Sability and Financial Stability. Which required new arrangements for the Governance of Central Banks and the design of a new Institutional Framework to restrict the use of power by focusing on Independence, Accountability and Transparency. Perception of individuals to risks resulting from shifts in Monetary Policy because of the change in the multiple goals weakens the degree of the effectiveness and acceptance. As the Central Bank is responsible for Monetary Policy management, i

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Rakviashvili, A. "Modern Banking System as a Source of Cyclic Development of Market Economy." Voprosy Ekonomiki, no. 6 (June 20, 2011): 71–81. http://dx.doi.org/10.32609/0042-8736-2011-6-71-81.

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The article conducts theoretical analysis of the monetary policy costs. On the basis of the authors interpretation of the Austrian theory of business cycle the article shows the destructive influence of the central banks intervention in the financial system on the economy. It also analyzes market agents response to the monetary policy.

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Mohamud, Hussein Hillowle, and Fredrick Warui. "Innovative Banking Practices and Financial Performance of Commercial Banks in Kenya." International Journal of Current Aspects in Finance, Banking and Accounting 3, no. 1 (2021): 41–53. http://dx.doi.org/10.35942/ijcfa.v3i1.180.

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Commercial banks serve as key financial intermediaries in facilitation of the flow of money in the banking industry. Commercial banks offer credit to investment banks in order to offer investment opportunities for risky investments especially for financial securities using depositors’ money. Globally, banks are affected by broad difficulties in the operating environment. The banking industry has embraced innovation to sustain competitiveness. Financial innovations used by commercial banks revolve around the latest product, service and its conveyance to consumers. Consequently, this information

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Woodruff, David M. "To Democratize Finance, Democratize Central Banking." Politics & Society 47, no. 4 (2019): 593–610. http://dx.doi.org/10.1177/0032329219879275.

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Robert C. Hockett’s “franchise view” argues, convincingly, that the capacity of banks or quasi-bank financial entities to create money rests on the laws, regulations, and guarantees of the state under which they operate. Fred Block advocates the use of this insight as a beachhead for establishing the legitimacy of locally embedded, nonprofit lenders whose investments would be dedicated to public purposes. However, given the pervasive influence of “everyday libertarianism,” which fosters blindness to the public character of private economic power, this commentary warns of possible counterproduc

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Guney, Ayhan. "The Role Of Turkish Central Bank During And After The 2008-Financial Crises." International Business & Economics Research Journal (IBER) 10, no. 12 (2011): 93. http://dx.doi.org/10.19030/iber.v10i12.6652.

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The Global Financial Crises occurred at the end of 2008, and in very short time, spread to all sectors of economy.All countries were badly hit by the crises and the World economies shrank almost $50 trillion, the equivalent of one year of world GDP.During the process, especially the banking sectors of the world economies was smashed, and many banks and financial institutions bankrupted and some others liquidated such as Lehman Brothers. All countries took the drastic fiscal and monetary measures to overcome the global crises. So, this paper focuses on the functions of central banks asking that

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Nikolaychuk, Sergiy, and Roman Pidvysotskyy. "Transformation of Central Banking. Annual Research Conference of the NBU. Key Issues." Visnyk of the National Bank of Ukraine, no. 236 (June 29, 2016): 6–18. http://dx.doi.org/10.26531/vnbu2016.236.006.

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In May 2016, the National Bank of Ukraine (NBU) held its Annual Research Conference of the NBU on Transformation of Central Banking for the first time. Over 300 participants shared in the work of the representative international forum, including experts from central banks and international financial organizations, as well as representatives of the Ukrainian and international academic community. Issues discussed during the conference included the recent development trends of in central bankings, ranging from the monetary policy at low interest rates and under the threat of deflation, financial

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AL-hakim, Nasreen Mohamed, and Akram S. Yousif. "The effect of the efficiency of monetary policy educational tools on the financial soundness of banks A pilot study in the Iraq Stock Exchange (2007-2017)." Academic Journal of Nawroz University 10, no. 2 (2021): 54–75. http://dx.doi.org/10.25007/ajnu.v10n2a1002.

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The aim of the research is to identify the impact of the quantitative tools of monetary policy on the financial soundness of banks, and the research was based on a set of hypotheses, to determine the nature of the effect between independent and dependent variables, and for the purpose of testing research hypotheses, a number of financial ratios according to CAMEL indicators were used to analyze the historical data of banks, the research sample and the component From (7) banks for the period (2007-2017), the quantitative tools of monetary policy were used from the impact published in the Centra

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Nyasha, Sheilla, and Nicholas M. Odhiambo. "The australian banking sector reforms: Progress and challenges." Corporate Ownership and Control 10, no. 4 (2013): 469–78. http://dx.doi.org/10.22495/cocv10i4c5art4.

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This paper gives an overview of the Australian banking sector; it highlights the reforms since the 1970s; it tracks the growth of the banking sector in response to the reforms implemented over the past five decades; and finally, it highlights the challenges facing the Australian banking sector. The country’s banking sector consists of more than 60 commercial banks, with the Reserve Bank of Australia, the country’s central bank, at the apex. Since the 1980s, the Australian government has implemented a number of banking sector reforms in order to safeguard and improve the banking sector. The res

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Simpasa, Anthony, Boaz Nandwa, and Tiguéné Nabassaga. "Bank lending channel in Zambia: empirical evidence from bank level data." Journal of Economic Studies 42, no. 6 (2015): 1159–74. http://dx.doi.org/10.1108/jes-10-2014-0172.

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Purpose – The purpose of this paper is to explore the effect of monetary policy on the lending behaviour of commercial banks in Zambia using bank-level data. Design/methodology/approach – Dynamic panel data econometric analysis is used to uncover the evidence of monetary transmission mechanism in Zambian banking industry. Other specifications are used as robustness checks. Findings – Contrary to received evidence, the authors find that the bank lending channel in Zambia operates mainly through large banks. The effect of monetary policy on medium-sized banks is moderate while it is virtually no

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Rafikov, Ildus. "Monetary Policy for the Real Economic Sector in Muslim Majority Countries: A Transitional Solution." Turkish Journal of Islamic Economics 8, no. 2 (2021): 481–99. http://dx.doi.org/10.26414/a154.

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The paper examines the issue of monetary policy from an Islamic perspective and offers a transitional solution given the existing circumstances in the contemporary Muslim economies, dominated by financial institutions, fiat currencies, and fractional reserve banking. Qualitative research with a “complex systems” perspective is used to determine the state of monetary policy in several Muslim majority countries, to study the issues and challenges, as well as to point out the most problematic areas that need urgent addressing. The paper will argue that central banks are the main institutions that

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Ayomi, Sri, Eleonora Sofilda, Muhammad Zilal Hamzah, and Ari Mulianta Ginting. "The impact of monetary policy and bank competition on banking industry risk: A default analysis." Banks and Bank Systems 16, no. 1 (2021): 205–15. http://dx.doi.org/10.21511/bbs.16(1).2021.18.

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In the financial system and economy, the banking industry plays a crucial role. Default risk takes central stage in preserving financial stability and needs to be mitigated as it can trigger a crisis. The study examines the combined effects of monetary policy and bank competition on banking defaults. Using a sample of 95 commercial banks in Indonesia between 2009 and 2019, this study employs the Generalized Method of Moments, a two-step dynamic panel-data estimation system, to analyze it. Empirical estimation results show that monetary policy, through an increase in the benchmark interest rate

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LIPTON, ALEXANDER. "MODERN MONETARY CIRCUIT THEORY, STABILITY OF INTERCONNECTED BANKING NETWORK, AND BALANCE SHEET OPTIMIZATION FOR INDIVIDUAL BANKS." International Journal of Theoretical and Applied Finance 19, no. 06 (2016): 1650034. http://dx.doi.org/10.1142/s0219024916500345.

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A modern version of monetary circuit theory with a particular emphasis on stochastic underpinning mechanisms is developed. It is explained how money is created by the banking system as a whole and by individual banks. The role of central banks as system stabilizers and liquidity providers is elucidated. It is shown how in the process of money creation banks become naturally interconnected. A novel extended structural default model describing the stability of the Interconnected banking network is proposed. The purpose of bank capital and liquidity is explained. Multi-period constrained optimiza

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Hudima, T. S., and V. A. Ustymenko. "CENTRAL BANK DIGITAL CURRENCY: ECONOMIC AND LEGAL CHARACTERISTICS." Legal horizons, no. 19 (2019): 94–100. http://dx.doi.org/10.21272/legalhorizons.2019.i19.p94.

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The article is devoted to identifying the peculiarities of the central bank digital currency (CBDC), explaining their impact on the monetary policy of the state, and identifying the prospects for the transformation of domestic banking legislation in connection with the implementation of the CBDC. It is noted that the scope of competence of the Central Bank and the legal basis for the issuance of the CBDC will depend on the economic and legal features of the digital currency, the degree of its impact on the monetary policy, the financial stability of the country’s economy and so on. In the proc

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Kim, Young Sik. "LIQUIDITY, INTERBANK MARKET, AND THE SUPERVISORY ROLE OF THE CENTRAL BANK." Macroeconomic Dynamics 7, no. 2 (2003): 192–211. http://dx.doi.org/10.1017/s136510050101015x.

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This paper provides an explanation for the supervisory role of the central bank in a monetary general equilibrium model of bank liquidity provision. Under incomplete information on the individual banks' liquidity needs, individual banks find it optimal to invest solely in bank loans holding no cash reserves, and rely on the interbank market for their withdrawal demands. Using the costly state verification approach under uncertainty in aggregate liquidity demands, the supervisory role of the central bank as a large intermediary arises as an incentive-compatible arrangement by which banks hold t

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