I won’t go into all the pros and cons of the various models, but just make a few observations. In the 1990s, the trend was to separate prudential supervision from central banking. It was thought that the conduct of monetary policy would be “polluted” by prudential supervision considerations.
Christopher Kent: Opening panel remarks - FX Week Australia Opening panel remarks by Mr Christopher Kent, Assistant Governor (Financial Markets) of the Reserve Bank of Australia, at the FX Week Australia, Sydney, 27 March 2019. * * * Thanks to FX Week for the invitation to discuss the FX Global Code.