摘要:Central banks have always played a significant role in promoting financialstability, especially in their capacity as lender of last resort. However, the2007–09 global financial crisis has sparked a re-examination of this role. Central banks can contribute importantly to reducing the risk of financialstress and crises. Their efforts would be enhanced by coordinating withother domestic agencies within a well-articulated financial stability regimethat incorporates micro- and macroprudential regulation and supervisionand a clearly defined governance framework. Central banks are well positioned to identify, assess and communicatefinancial vulnerabilities and risks and engage in stress-testing activitieswith other prudential agencies because of their system-wide macrofinancialperspective and understanding, their analytical capacity andtheir independent status.