Home  Journals  Finance and Credit  47(431) - 2010 December

Structural analysis of active operations of the Central Bank

Available online: 13 December 2010

Subject Heading: OPERATIONS OF THE CENTRAL BANKS

JEL Classification: 

In this article the author examines the changes of active operations structure of central banks in developed countries and Russia under the influence of world financial crisis. As the result of the crisis, the share of investments in government securities in their balances reduced and loans to commercial banks increased. Analyzing the assets of the US Federal Reserve System, the ECB, the Bank of Japan, the Bank of Russia, the author considers the most significant items in their balances during three periods (pre-crisis, crisis and post-crisis). The reshuffle of central banks assets in the post-crisis period that has restored their previous structure, according to the author, is not the factor facilitating economic growth in the world economy as a whole and in national economies in particular.

Keywords: bank, bank note, banking operation, crisis, gold, foreign currency, monetary aggregate, money, passive dealerships (passive operations), refinancing rate, required reserve

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ISSN 2311-8709 (Online)
ISSN 2071-4688 (Print)

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