New Markets and New Demands: Challenges for Central Banks in the Wholesale Market Infrastructure

6 Pages Posted: 27 Dec 2007

See all articles by Nigel Jenkinson

Nigel Jenkinson

Bank of England - Monetary Analysis and Statistics

Abstract

In this speech, Nigel Jenkinson, Executive Director for financial stability, discusses some of the structural changes in the trading, clearing and settlement infrastructure supporting financial markets. He observes that, while central banks' typical objectives of monetary and financial stability emerged from an early role in settling claims between banks, the financial infrastructure has broadened and deepened over time, stretching beyond the traditional locus of central banks. And it continues to evolve, driven by the forces of ever faster technological and financial innovation, regulatory change and the globalisation of banking. These developments are exposing new sources of risk, posing fresh policy challenges for central banks.

Suggested Citation

Jenkinson, Nigel, New Markets and New Demands: Challenges for Central Banks in the Wholesale Market Infrastructure. Bank of England Quarterly Bulletin, Q4, 2007, Available at SSRN: https://ssrn.com/abstract=1077556

Nigel Jenkinson (Contact Author)

Bank of England - Monetary Analysis and Statistics

Threadneedle Street
London EC2R 8AH
United Kingdom

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