23  Mohanty Deepak (2011), “Lessons for Monetary Policy from Global Financial Crisis: An Emerging Market Perspective”, Paper Presented in the Central Banks Conference of the Bank of Israel, Jerusalem, RBI Bulletin, April. 4  BIS central bankers’ speeches  stability has been important to policymaking, considering the greater incidence of financial crises in EMEs in the 20th century.
Moreover, many of them were also responsible for macroprudential regulation even though only a few of them directly derive it from the explicit mandate (Table 1).