Central banks may 'need more clout'

FRANKFURT: Central banks might need more power to oversee banks if they are to play a larger role in maintaining financial stability in the post-crisis world, a Bank for International Settlements (BIS) report said.

The report also said central banks should examine issues such as the make-up of policymaking bodies, their independence, voting habits and finances as their role evolves.

"The current global financial crisis could well have ... important implications for central banks, particularly with respect to their role in fostering financial stability," said the report, by the Central Bank Governance group.