ABSTRACT
Safeguarding financial stability is a multi-faceted task that requires action at both the micro and macro level and can involve a number of institutions which share the responsibilities-the central bank, other regulatory and supervisory bodies and the government. While there is much commonality across countries in the financial stability responsibilities of public authorities, the way in which they are assigned to particular public institutions differs considerably. This chapter looks at institutional arrangements for safeguarding financial stability, with a particular focus on the evolving role of central banks in this area.
