Central banks as leaders in ensuring financial stability
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Date
2019-05
Journal Title
Journal ISSN
Volume Title
Publisher
Atlantis Press
Abstract
The paper deals with the basic concepts and key problems of creating financial stability, as well as
the role of central banks in its provision. The role of central banks in providing financial stability is
extremely important and has a double manifestation - is the maintenance of the stability of the national
currency and the responsibility for the stability of commercial banks and the banking system. The central
element of any financial system is always banks, so the emergence of systemic instability in the banking
sector always has a negative impact on financial stability in general and has extremely negative socio -
economic implications for the country as a whole. The present study provides a thorough analysis of the
essence of financial stability, the main challenges faced by central banks in monitoring financial sector and
examines the global experience of central banks of different countries to ensure financial stability and their
role in these processes. This paper highlights the common and distinctive features of the activities of the
central banks of the most developed and developing countries towards the achievement of financial stability.
Our paper focuses on the activities of the National Bank of Ukraine. In particular, its role in ensuring
financial stability of the country is described and directions of its consolidation are indicated. The major
task of the National Bank of Ukraine on the way to financial stability in the post-crisis period selected, the
maximum possible mitigation Ukrainian banks consequences of the global financial crisis; increase of
financial stability of banking institutions; strengthening of public confidence in banks and the banking
system. As a result of the conducted, the key factors of achievement of the set tasks, as well as the main
directions of application of monetary instruments of the National Bank of Ukraine in the activities aimed at
increasing the stability of banks and ensuring financial stability, were determined.
Description
Keywords
Financial stability, central banks, leadership, finances
Citation
Biloshapka V. Central banks as leaders in ensuring financial stability [Electronic resource] / Viktoriia Biloshapka, Igor Britchenko, Iryna Okhrymenko // Advances in Social Science, Education and Humanities Research : 3rd International Conference on Social, Economic, and Academic Leadership (ICSEAL 2019) ; [series ed.: Wadim Striełkowski]. – Electronic text data. – 2019. – Vol. 318, May. – P. 173–181. – Mode of access: https://www.atlantis-press.com/proceedings/icseal-19/125909033. – Title from screen.