Critically discuss how 2008-09 financial crisis has changed the role of central banks concerning financial stability.

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“Money, when paid into the bank ceases altogether to be the money of the principal; it is by then the money of the banker” (Foley v Hill & Others 1848 2 HLC 28 (HL). Critically discuss this statement.

Critically discuss how 2008-09 financial crisis has changed the role of central banks concerning financial stability. Use examples to illustrate your answer.

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