Banque de France’s Denis Beau on cyber attack, Libor and system stability

Central banks have never been more important to the smooth running of the financial system than they are now. From benchmark setting to prudential regulation, Denis Beau of Banque de France explains why central banks can’t afford to take their eye off the ball

Since the financial crisis, central banks have found themselves in an ever-strengthening spotlight. Aside from their often-controversial roles in setting monetary policy during the most serious postwar economic downturn, they have also taken on new prominence as the guardians of the financial sector.

Changes in regulatory frameworks have meant that in jurisdictions such as the UK and Belgium the central banks will be taking a much more active role in prudential regulation. Not only will they be