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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.

As part of our nation’s central bank, the Richmond Fed is one of 12 regional Reserve Banks working together with the Board of Governors to support a healthy economy and deliver on our mission to foster economic stability and strength. We connect with community and business leaders across the Fifth Federal Reserve District—including the Carolinas, District of Columbia, Maryland, Virginia, and most of West Virginia—to monitor economic conditions, address issues facing our communities, and share this information with monetary and financial policymakers. We also work with banks to ensure they are operating safely and soundly, supply financial institutions with currency that’s fit for distribution, and provide a safe and efficient way to transfer funds through our nation’s payments system.


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