The Bank's new take on financial stability

Financial stability reports have come in for a fair amount of criticism. Part of the problem has been their sheer size and all-encompassing scope. For this, central bankers must shoulder at least part of the blame. Some of the published reports have been more than 200 pages long and may include articles on anything from the risk of systemic banking failures to payment systems break-down to the outbreak of bird flu. As threats to financial stability are (fortunately) seen as events that only

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