drissi, salma université ibn zohr - école nationale de commerce et de gestion (encg) - laboratoire de recherche en entrepreneuriat, finance et audit (larefa), Agadir, morocco , angade, khadija université ibn zohr - école nationale de commerce et de gestion (encg) - laboratoire de recherche en entrepreneuriat, finance et audit (larefa), Agadir, Morocco

CENTRAL BANKS: ARBITRATION BETWEEN FINANCIAL STABILITY AND MONETARY STABILITY

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The financial crisis unleashed in 2007 challenged the role played by central banks formerly limited to monetary policy conduct towards three-dimensional stability, namely prices, the payment system and the banking sector. Indeed, the majority of these functions are the result of a series of expensive lessons during banking crises from the 19th century until the beginning of the 21st century. These institutions qualified in the faith of very old and very recent not ceased to evolve since their appearance according to the evolution of their economic environment, financial as well as the evolution of the economic theory.However, following the outbreak of the subprime financial crisis, a re-examination of the role accorded to central banks becomes imperative, marking a new generation of central banks equipped with very powerful instruments and tools to ensure financial stability without abandoning the role of central banks goal of monetary stability.

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Central bank , monetary stability , financial stability , systemic crisis , financial liberalization

Revue Des Études Multidisciplinaires En Sciences Économiques Et Sociales

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