The evaluation of central banks’ governance practices is judged on the basis of the roles and responsibilities of the Management and the Board of Directors, and the appropriate interaction and interface between the central bank and the government.
4  Loans or credit protection offered in association with government help to stabilize individual systemically important institutions probably have higher credit risk than the more general liquidity facilities described in this talk. But even in those cases, the Federal Reserve has taken steps to protect itself from credit losses.