Sentences with phrase «stability at that time of crisis»

Not exact matches

It is certainly true that the countries at the centre of the Asian crisis — Thailand, Indonesia and Korea — had rates that were de facto soft fixes — a high degree of stability in the good times, but not any serious institutional defences when they came under pressure.

When banks were the main providers of credit, the financial stability mandate of central banks could be summarised as their lender of last resort function: in times of crisis, lend freely, at a penalty rate and against collateral that would be good in normal times but may be impaired in times of crisis.

At the same time, our ability to make effective monetary policy and to promote financial stability depends vitally on the information, expertise and authorities we gain as bank supervisors, as demonstrated in episodes such as the 1987 stock market crash and the financial disruptions of Sept. 11, 2001, as well as by the crisis of the past two years.