Central banks key to financial stability-BOI, BOF

The internationalisation of institutions and financial activities has heightened the importance of national central banks in ensuring financial stability, the governors of the Bank of Italy and Bank of France said in separate speeches on Mar 9.

Both Bank of Italy Governor Antonio Fazio and Bank of France Governor Jean-Claude Trichet agreed that large, supra-national organisations could not monitor local and national developments as effectively as national watchdogs.

"(National) central banks a

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