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Tendencies

In: Stabilising Capitalism

Author

Listed:
  • Pierluigi Ciocca

    (Accademia Nazionale dei Lincei)

Abstract

The original banks of issue thus progressively acquired three functions that were to become typical — although not exclusive or exhaustive — of central banking: management of the payment system and securities transactions, monetary policy and supervision of the financial system. In interpreting this triad of tasks, the problem of possible conflicts of interest was addressed by transforming central banks from private legal entities into public-law institutions, restricting their activities to those strictly necessary and requiring them to be neutral and separate from the business sector.

Suggested Citation

  • Pierluigi Ciocca, 2015. "Tendencies," Palgrave Macmillan Studies in Banking and Financial Institutions, in: Stabilising Capitalism, chapter 2, pages 9-15, Palgrave Macmillan.
    • Handle: RePEc:pal:pmschp:978-1-137-55551-9_2
    DOI: 10.1057/9781137555519_2
    as

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