The capital needs of central banks / edited by Sue Milton and Peter Sinclair.

Consists of papers produced for a conference at the Centre for Central Banking Studies in London, hosted by the Bank of England and concluded before the events of 2008.

Includes bibliographical references and index.

1. Central bank{u2019}s capital: An Introduction / Peter Sinclair and Sue Milton -- 2. Central bank finances and independence: how much capital should a central bank have? / Alex Cukierman -- 3. Central bank financial strength and macroeconomic policy performance/ Peter Stella -- 4. Financing the central bank: capital adequacy and financial independence {u2013} an accountant{u2019}s perspective / Robin Darbyshire -- 5. Securing financial independence in the legal basis of a central bank / Fabian Amtenbrink -- 6. Central bank capital adequacy: the cases of central banks with or without monetary policy / Luca Papi -- 7. Exchange rate appreciation and negative central bank capital: is there a problem? / Jan Frait and Tomáš Holub -- 8. Central bank losses, electronic money and contestable central banking / Yúksel Górmez -- 9. Funding models for central banks: is the European Central Bank a special case? / Ian Ingram -- 10. Central bank funding models and their risk-return profile / J Ramón Martínez-Resanó -- 11. How ALM techniques can help central banks / Age Bakker, Han van der Hoorn and Leonard Zwikker