In addition, one of their tasks will be to ensure coordinative action in emergencies. 3.2. The role of central banks  Let me now turn to the question of the role which central banks should play in this framework.
Owing to the close links that exist between the financial system and monetary  2  BIS Review 29/2010  policy, central banks have a natural interest in safeguarding financial stability. They also have a high level of expertise in monitoring macroeconomic developments that might impact on financial stability.