Conflicts of interest in central banking

ECB governing council

When a financial crisis erupts, central banking becomes more complicated. Central banks then have to take ‘non-standard’ measures, most of which have a quasi-fiscal character. Since the start of the crisis central banks all over the developed world thus expanded their balance sheets massively, acquiring the sorts of assets they would normally have considered too risky. These asset purchases involve delicate decisions, trading off financial stability against taxpayers’ interests, and perhaps even

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact [email protected] or view our subscription options here:

You are currently unable to copy this content. Please contact [email protected] to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Central Banking? View our subscription options

If you already have an account, please sign in here.

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here: