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Are European Central Banks Over-Capitalized?

In: Open Issues in European Central Banking

Author

Listed:
  • Lorenzo Bini Smaghi

    (Italian Treasury)

  • Daniel Gros

    (Centre for European Policy Studies)

Abstract

The job of central banks is to conduct monetary policy. This consists of buying and selling assets from and to the private sector, in exchange for central bank money, a rare commodity used by the financial sector to clear its daily position in the money market. The conduct of monetary policy has a direct effect on the balance sheet of both the banking system and the central bank.

Suggested Citation

  • Lorenzo Bini Smaghi & Daniel Gros, 2000. "Are European Central Banks Over-Capitalized?," Palgrave Macmillan Books, in: Open Issues in European Central Banking, chapter 3, pages 67-93, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-333-98188-7_4
    DOI: 10.1057/9780333981887_4
    as

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