Vol.7, No 3, 2010 pp. 279 - 290
UDC 336.711:338.124.4
CRISIS CONCEPT OF THE CENTRAL BANK FUNCTIONS OPTIMIZATION
Borko Krstić, Mirjana Jemović
Faculty of Economics, University of Niš, Serbia
borko.krstic@hotmail.com, mirjanajemovic@yahoo.com
Central Bank, as the ultimate monetary institution in the financial system of a country, is striving to provide optimum monetary conditions for the economic system functioning, while performing the functions of monetary regulation, supervision and the lender of last resort of banks. Sustaining monetary stability as the goal of monetary regulation function, and financial stability as the goal of supervision and lender-of-last-resort function, imposes the need to consider the possibilities for optimization of these functions, in the direction of simultaneously achieving price and financial stability. The theoretical discussion on the functions and objectives of central banks pointed to the need to define an appropriate framework of monetary, supervision and control policies, which will foster the achievement of both price and financial stability.
Key Words: central bank, monetary regulation, supervision, lender of last resort of banks, price stability, financial stability
KRIZNI KONCEPT OPTIMIZACIJE FUNKCIJA CENTRALNE BANKE
Centralna banka, kao vrhovna monetarna institucija u finansijskom sistemu jedne zemlje, nastoji da obezbedi optimalne monetarne uslove funkcionisanja privrednog sistema, obavljajući pritom funkcije monetarne regulacije, supervizije i poslednjeg utočišta banaka. Očuvanje monetarne stabilnosti, kao cilja funkcije monetarne regulacije, i finansijske stabilnosti, kao cilja funkcije nadzora i poslednjeg utočišta, nameće potrebu razmatranja mogućnosti optimizacije ovih funkcija, u pravcu postizanja cenovne i finansijske stabilnosti, istovremeno. Nakon teorijske rasprave o funkcijama i ciljevima centralne banke, ukazano je na potrebu definisanja odgovarajućeg okvira monetarne i politike nadzora i kontrole, koji će pogodovati istovremenom postizanju cenovne i finansijske stabilnosti.
Ključne reči: centralna banka, monetarna regulacija, supervizija, poslednje utočište banaka, cenovna stabilnost, finansijska stabilnost
