Author: Eddy Chicka NdekwuPublisher: Nigerian Institute of Social and Economic Research (NISER), University of Ibadan
ISBN:
Category : Bankruptcy
Languages : en
Pages : 54
Book Description
Central Bank as a Fiscal Agent of Government
Author: Eddy Chicka NdekwuPublisher: Nigerian Institute of Social and Economic Research (NISER), University of Ibadan
ISBN:
Category : Bankruptcy
Languages : en
Pages : 54
Book Description
Government Cash Management: Relationship between the Treasury and the Central Bank
Author: Mario PessoaPublisher: International Monetary Fund
ISBN: 1475583656
Category : Business & Economics
Languages : en
Pages : 27
Book Description
This technical note and manual (TNM) addresses the following main issues: •Interaction between treasury cash management and monetary policy operations within the wider context of the respective economic responsibilities of the ministry of finance and the central bank. •Institutional arrangements for an effective relationship between the treasury and the central bank. •Contractual arrangements between the treasury and the central bank for the provision of banking and other services. This document will be particularly relevant to developing countries that are reforming cash management operations or contemplating more active cash management; or where there are operational policy differences between the treasury and the central bank.
The Federal Reserve System Purposes and Functions
Author: Board of Governors of the Federal Reserve SystemPublisher:
ISBN: 9780894991967
Category : Banks and Banking
Languages : en
Pages : 0
Book Description
Provides an in-depth overview of the Federal Reserve System, including information about monetary policy and the economy, the Federal Reserve in the international sphere, supervision and regulation, consumer and community affairs and services offered by Reserve Banks. Contains several appendixes, including a brief explanation of Federal Reserve regulations, a glossary of terms, and a list of additional publications.
Central Banks Quasi-Fiscal Policies and Inflation
Author: Mr.Seok Gil ParkPublisher: International Monetary Fund
ISBN: 1463931190
Category : Business & Economics
Languages : en
Pages : 35
Book Description
Although central banks have recently taken unconventional policy actions to try to shore up macroeconomic and financial stability, little theory is available to assess the consequences of such measures. This paper offers a theoretical model with which such policies can be analyzed. In particular, the paper shows that in the absence of the fiscal authorities' full backing of the central bank's balance sheet, strange things can happen. For instance, an exit from quantitative easing could be inflationary and central banks cannot successfully unwind inflated balance sheets. Therefore, the fiscal authorities' full backing of the monetary authorities' quasi-fiscal operations is a pre-condition for effective monetary policy.
Fiscal Functions of the Federal Reserve Banks
Author: John M. ChapmanPublisher:
ISBN:
Category : Federal Reserve banks
Languages : en
Pages : 236
Book Description
Unelected Power
Author: Paul TuckerPublisher: Princeton University Press
ISBN: 0691196303
Category : Business & Economics
Languages : en
Pages : 662
Book Description
Tucker presents guiding principles for ensuring that central bankers and other unelected policymakers remain stewards of the common good.
Central Bank Credit to the Government
Author: Mr.Luis Ignacio JácomePublisher: International Monetary Fund
ISBN: 1463957394
Category : Business & Economics
Languages : en
Pages : 44
Book Description
Using a central bank legislation database, this paper documents and analyzes worldwide institutional arrangements for central bank lending to the government and identifies international practices. Key findings are: (i) in most advanced countries, central banks do not finance government expenditure; (ii) in a large number of emerging and developing countries, short-term financing is allowed in order to smooth out tax revenue fluctuations; (iii) in most countries, the terms and conditions of these loans are typically established by law, such that the amount is capped at a small proportion of annual government revenues, loans are priced at market interest rates, and their maturity falls within the same fiscal year; and (iv) in the vast majority of countries, financing other areas of the state, such as provincial governments and public enterprises, is not allowed. The paper does not address central banks' financial support during financial crises.
Do Central Banks Need Capital?
Author: Mr.Peter StellaPublisher: International Monetary Fund
ISBN: 1451850506
Category : Business & Economics
Languages : en
Pages : 40
Book Description
Central banks may operate perfectly well without capital as conventionally defined. A large negative net worth, however, is likely to compromise central bank independence and interfere with its ability to attain policy objectives. If society values an independent central bank capable of effectively implementing monetary policy, recapitalization may become essential. Proper accounting practice in determining central bank profit or loss and rules governing the transfer of the central bank’s operating result to the treasury are also important. A variety of country-specific central bank practices are reviewed to support the argument.
Alexander Hamilton and the Origins of the Fed
Author: Jack RasmusPublisher:
ISBN: 9781498582865
Category :
Languages : en
Pages : 146
Book Description
In 1913the United States was one of the last major economies to establish a central bank. This book examines the history and evolution of central banking in the United States from the perspective of central banking functions such as aggregator of private lending to the federal government and the fiscal agent for the government.
Notes on Central Banks
Author: Federal Reserve Bank of RichmondPublisher:
ISBN:
Category : Banks and banking, Central
Languages : en
Pages : 40
Book Description