期刊名称：Euro Area Balance of Payments and International Investment Position Statistics
印刷版ISSN：1830-3420
电子版ISSN：1830-3439
出版年度：2014
出版社：European Central Bank
摘要：This paper analyses how accounting frameworks can affect three important areas of responsibilityof many central banks, namely monetary policy, financial stability and banking supervision.The identified effects of accounting rules and accounting information on the activities of a centralbank are manifold. First, the effectiveness of monetary policy crucially hinges on the financialindependence of a central bank, which can be evidenced, inter alia, by its financial strength. Usinga new simulation of the financial results of the European Central Bank (ECB), this paper showsthat the reported annual profit and financial buffers of a central bank can be significantly affectedby accounting, profit distribution and loss coverage rules. Second, in respect of financial stability,the accounting frameworks applied by commercial banks can not only affect their behaviour, butalso that of financial markets. Indeed, there is evidence that accounting frameworks amplifiedpro-cyclicality during the recent crisis, and thus posed risks to the stability of the financial system.This being so, the accounting frameworks of credit institutions have obvious implications forcentral banks’ analyses with regard to promoting financial stability. Finally, as regards bankingsupervision, regulatory reporting and key supervisory ratios are based on accounting data. Underthe new regulatory framework for banks in the European Union (EU), bank supervisors are highlyreliant on accounting data. This means that central banks, in their role as bank supervisors, needto understand the underlying accounting rules and should directly support the development andapplication of high-quality accounting frameworks
关键词：accounting standards; financial reporting; central bank balance sheet; financial stability;banking supervision
