Press Releases

Economic Brief

June 19, 2017

Richmond Fed Researchers Explore Financial Stability Roles of Central Banks

Central banks play strong roles in domestic financial system stability policy, but the full scopes of their financial stability mandates are ambiguous, according to the latest Economic Brief from the Richmond Fed.

The authors of the brief, John A. Weinberg and Renee Haltom, note that central banks around the world have devoted increasing attention to maintaining financial system stability. The Federal Reserve, for example, has appeared to embrace a stronger role in financial system stability, starting in the late 1960s and accelerating with the unprecedented actions the Fed took during the 2007–08 financial crisis. Questions remain, however, about the proper scope and design of a central bank’s financial stability mandate.

The Richmond Fed’s Economic Brief series provides web-exclusive essays on current economic issues and trends. Sign up to receive an email notification when a new essay is posted.


The Richmond Fed serves the Fifth Federal Reserve District, which includes the District of Columbia, Maryland, North Carolina, South Carolina, Virginia and most of West Virginia. As part of the nation's central bank, we're one of 12 regional Reserve Banks that work together with the Federal Reserve's Board of Governors to strengthen the economy and our communities. We manage the nation's money supply to keep inflation low and help the economy grow. We also supervise and regulate financial institutions to help safeguard our nation's financial system and protect the integrity and efficiency of our payments system.

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