The dramatic events that began with the 2007 “credit crunch” took the central banking world by surprise and created intense challenges for individual central banks. Immediate responses necessarily focused on effective crisis action and technical issues. But a response to improve the future management of central banks and regulatory agencies is needed too. What lessons can be learned about institutional management, and what should be high on the internal change agenda?
John Mendzela’s article for the Central Banking journal appeared in February 2009 and is under copyright. If you use or quote from this material please attribute it to the author and publisher.