New horizons in central bank risk management / edited by Robert Pringle and Nick Carver ; book design by Ikuko Hiroe.

Preface, 1 -- 1. Survey of central bank risk managers / Robert Pringle and Nick Carver, 3 -- 2. International financial risk management / Alan Greenspan, 33 -- 3. Challenges and risks posed to central banks by deflation / Tony Latter, 41 -- 4. Investment portfolio techniques at a central bank / Etienne Lavigne, 51 -- 5. Implementation of a risk-control framework in the SARB / Callie Hugo, 63 -- 6. Central bank risk management and international accounting standards / Jeremy Foster, 73 -- 7. Operational risk management for central banks / Junji Hiwatashi and Hiroshi Ashida, 83 -- 8. Legal risks for central banks / Charles Proctor, 99 -- 9. Planning for business continuity at the Federal Reserve Bank of New York / Maria Massei-Rosato and Elizabeth G. Mindlin, 111 -- 10. The duality of managing foreign exchange reserves / Isabelle Strauss-Kahn, 117 -- 11. Exchange-rate volatility and reserve management in the Italian experience / Andrea Santorelli, 123 -- 12. Why central banks need financial strength / Peter Stella, 129 -- 13. Central bank balance sheets and fiscal operations / John Hawkins, 139 -- 14. The role of the lender of last resort and risk- management techniques / Anthony M. Santomero and Stephen A. Meyer, 157 -- 15. A risk-management framework for a central bank / Isabela R. Damaso and Paulo M.F. de Cacella, 175 -- 16. How the Czech National Bank manages its risks / Ludek Niedermayer and Jan Schmidt, 185 -- 17. Concerns and considerations for the practical implementation of the new Basel Accord / Roger W. Ferguson, Jr., 195 -- 18. Risk management in the Reserve Bank: a 2003 perspective / Steve Anderson, 207 -- Appendix 1: Survey of central bank risk managers: questionnaire, 217 -- Appendix 2: Risk management in central banks: extracts from annual reports and websites, 221.