Central Banking

Front

What is the primary goal of modern monetary policy?

Back

Price stability

Front

What are the initials of the organization founded by several key central bankers and regulators that is aimed at throwing the weight of financial institutions behind the goals of the Paris Agreement?

Back

NGFS

Front

What year was the Bank of England chartered?

Back

1694

Front

When was the Federal Reserve created?

Back

1913

Front

Which specific part of the financial system (Tooze calls it the "economy's shock absorber") is under the most threat from catastrophic losses due to weather events and has had costs rise to $55b in recent years?

Back

Insurance

Front

The growth of these type of bonds is an objective of the NGFS to bias central banks towards lending for cleaner investments

Back

Green

Front

What is the name for the risk that "heavy polluters will be sued by victims of climate change and will face crippling court-ordered damages?"

Back

liability risk

Front

What is the "gold standard"?

Back

each country defines its currency in terms of a fixed weight of gold

Front

Which approach does Tooze consider to be efficient in conserving financial system resiliency, but not proactive in using monetary policy to combat climate change? Options: Macroprudential approach, Microprudential approach, Lender of last resort approach, Responsibility doctrine

Back

Macroprudential approach

Front

Should central bankers be more proactive in combatting climate change through the financial tools available to them?

Back

Yes, they have a responsibility as key agencies of the state to proactively fight climate change, regardless of other losses; Yes, they have a responsibility but also have to consider losses due to stranded assets; No, their job is just to protect the financial system and react when financial crises occurs.