摘要
The recent financial crisis in mature markets has put the role of central banks in financial stability in the spotlight. In the large advanced economies, central banks played an active role to prevent the collapse of their financial systems. Central banks initially provided aggregate liquidity in money markets without expanding their balance sheets as they were able to mop up excess of liquidity. Later, they granted large amounts of financial support to individual illiquid and even insolvent, banks and reserve
The recent financial crisis in mature markets has put the role of central banks in financial stability in the spotlight. In the large advanced economies, central banks played an active role to prevent the collapse of their financial＇systems. Central banks initially provided aggregate liquidity in money markets without expanding their balance sheets as they were able to mop up excess of liquidity.
