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Committee On The Global Financial System
The Committee on the Global Financial System (CGFS) is an international body hosted by the Bank for International Settlements (BIS) in Basel. Overview The Euro-Currency Standing Committee (ECSC) was established by a decision of the BIS Governors at their meeting of April 1971. It adopted its current name in February 1999, as the word euro had taken a new meaning as the European single currency. The CGFS reports to the BIS Global Economy Meeting. It helps member central banks to assess stability risks in financial markets on a global scale, and coordinates the ongoing development of the BIS' international banking and financial market statistics. It has been described by economist Charles Goodhart as the "premier macro-economic forum for the discussion of international tensions / imbalances". As of 2024, the CGFS had 28 members: Central Bank of Argentina, Reserve Bank of Australia, National Bank of Belgium, Central Bank of Brazil, Bank of Canada, People's Bank of China, European C ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bank For International Settlements
The Bank for International Settlements (BIS) is an international financial institution owned by central banks that "fosters international monetary and financial cooperation and serves as a bank for central banks". The BIS carries out its work through its meetings, programmes and through the Basel Process – hosting international groups pursuing global financial stability and facilitating their interaction. It also provides banking services, but only to central banks and other international organizations. It is based in Basel, Switzerland, with representative offices in Hong Kong and Mexico City. History The BIS was established in 1930 by an intergovernmental agreement between Germany, Belgium, France, the United Kingdom, Italy, Japan, the United States, and Switzerland. It opened its doors in Basel, Switzerland, on 17 May 1930. The BIS was originally intended to facilitate reparations imposed on Germany by the Treaty of Versailles after World War I, and to act as the tr ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bank Of Korea
The Bank of Korea (BOK; ) is the central bank of the Republic of Korea and issuer of Korean Republic won. It was established on 12 June 1950 in Seoul, South Korea. The bank's primary purpose is price stability. For that, the bank targets inflation. The 2016–18 target is consumer price inflation of 2.0%. History 1945-1970 The Bank of Korea was established on June 12, 1950 under the Bank of Korea Act. Following liberation on August 15, 1945, the Korean economy was plunged into turmoil. Tackling the severe inflation and financial disorder brought about by an acute shortage of resources and the division of the country along the 38th parallel was the immediate priority. In this situation, discussions raged across the country on establishing a central bank for the Republic of Korea and Dr. A.I. Bloomfield, dispatched from the Federal Reserve Bank of New York, drafted the Bank of Korea Act. Based on this draft, the Bank of Korea Act was passed in May 1950 and the bank launched i ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Board Of Governors Of The Federal Reserve System
The Board of Governors of the Federal Reserve System, commonly known as the Federal Reserve Board, is the main governing body of the Federal Reserve System. It is charged with overseeing the Federal Reserve Banks and with helping implement the monetary policy of the United States. Governors are appointed by the president of the United States and confirmed by the Senate for staggered 14-year terms.See Statutory description By law, the appointments must yield a "fair representation of the financial, agricultural, industrial, and commercial interests and geographical divisions of the country". As stipulated in the Banking Act of 1935, the Chair and Vice Chair of the Board are two of seven members of the Board of Governors who are appointed by the President from among the sitting governors of the Federal Reserve Banks. The terms of the seven members of the Board span multiple presidential and congressional terms. Once a member of the Board of Governors is appointed by the president ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bank Of England
The Bank of England is the central bank of the United Kingdom and the model on which most modern central banks have been based. Established in 1694 to act as the English Government's banker, and still one of the bankers for the Government of the United Kingdom, it is the world's eighth-oldest bank. It was privately owned by stockholders from its foundation in 1694 until it was nationalised in 1946 by the Attlee ministry. The Bank became an independent public organisation in 1998, wholly owned by the Treasury Solicitor on behalf of the government, with a mandate to support the economic policies of the government of the day, but independence in maintaining price stability. The Bank is one of eight banks authorised to issue banknotes in the United Kingdom, has a monopoly on the issue of banknotes in England and Wales, and regulates the issue of banknotes by commercial banks in Scotland and Northern Ireland. The Bank's Monetary Policy Committee has devolved responsibi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bank Of Thailand
The Bank of Thailand (BOT) ( Abrv: ธปท.; th, ธนาคารแห่งประเทศไทย, ) is the central bank of Thailand. History The Bank of Thailand (BOT) was first set up as the Thai National Banking Bureau. The Bank of Thailand Act was promulgated on 28 April 1942 vesting upon the Bank of Thailand the responsibility for all central banking functions. The Bank of Thailand started operations on 10 December 1942. The Bank of Thailand Act, B.E. 2485 was later amended in order to put emphasis on its social responsibility, to create a mechanism to guard against economic crisis, as well as to set up its decision making process to ensure good governance and transparency in the organization. The Bank of Thailand Act, B.E. 2551 came into force on 4 March 2008. Roles and responsibilities The Bank of Thailand's mission is to provide a stable financial environment for sustainable economic growth in order to achieve continuous improvement in the standard of l ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Swiss National Bank
The Swiss National Bank (SNB; german: Schweizerische Nationalbank; french: Banque nationale suisse; it, Banca nazionale svizzera; rm, Banca naziunala svizra) is the central bank of Switzerland, responsible for the nation's monetary policy and the sole issuer of Swiss franc banknotes. The primary goal of its mandate is to ensure price stability, while taking economic developments into consideration. The SNB is an ''Aktiengesellschaft'' under special regulations and has two head offices, one in Bern and the other in Zurich. History The bank formed as a result of the need for a reduction in the number of commercial banks issuing banknotes, which numbered 53 sometime after 1826. In the 1874 revision of the Federal Constitution it was given the task to oversee laws concerning the issuing of banknotes. In 1891, the Federal Constitution was revised again to entrust the Confederation with sole rights to issue banknotes. The Swiss National Bank was founded under the law of 6 Oc ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Sveriges Riksbank
Sveriges Riksbank, or simply the ''Riksbank'', is the central bank of Sweden. It is the world's oldest central bank and the fourth oldest bank in operation. Etymology The first part of the word ''riksbank'', ''riks'', stems from the Swedish word ''rike'', which means ''realm'', ''kingdom'', ''empire'' or ''nation'' in English. A literal English translation of the bank's name could thus be ''Sweden's Realm's Bank''. The bank, however, doesn't translate its name to English but uses its Swedish name ''the Riksbank'' also in its English communications. History The Riksbank began operations in 1668. Previously, Sweden was served by the Stockholms Banco (also known as the Bank of Palmstruch), founded by Johan Palmstruch in 1656. Although the bank was private, it was the king who chose its management: in a letter to Palmstruch, he gave permission to its operations according to stated regulations. But Stockholms Banco collapsed as a result of the issuing of too many notes without ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bank Of Spain
The Bank of Spain ( es, link=no, Banco de España) is the central bank of Spain. Established in Madrid in 1782 by Charles III, today the bank is a member of the European System of Central Banks and is also Spain's national competent authority for banking supervision within the Single Supervisory Mechanism. Its activity is regulated by the Bank of Spain Autonomy Act. History Originally named the ''Banco Nacional de San Carlos'', it was founded in 1782 by Charles III in Madrid, to stabilize government finances through its state bonds (''vales reales'') following the American Revolutionary War in which Spain gave military and financial support to the Thirteen Colonies. Although it aided the state, the bank was initially owned privately by stockholders. Its assets included those of "Spanish capitalists, French rentiers, and several treasuries of Indian communities in New Spain" (colonial Mexico). Its first director was French banker François Cabarrus, known in Spain as Francisco C ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
South African Reserve Bank
The South African Reserve Bank (SARB) is the central bank of South Africa. It was established in 1921 after Parliament passed an act, the "Currency and Bank Act of 10 August 1920", as a direct result of the abnormal monetary and financial conditions which World War I had brought. The SARB was only the fourth central bank established outside the United Kingdom and Europe, the others being the United States, Japan and Java. The earliest suggestions for the establishment of the Central Bank in South Africa date back to 1879. A select committee, of ten members of Parliament, was established on 31 March 1920 to examine the benefits to the national interest of the establishing of the central bank. Following on the recommendations of the committee, the South African Reserve Bank opened for business on 30 June 1921, making it the oldest central bank in Africa. The first banknotes were issued to the public by the Bank on 19 April 1922. Set of ZAR notes 2012 to present R 104 000 000 000.0 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Monetary Authority Of Singapore
The Monetary Authority of Singapore (MAS) is the central bank and financial regulatory authority of Singapore. It administers the various statutes pertaining to money, banking, insurance, securities and the financial sector in general, as well as currency issuance. It was established in 1971 to act as the banker to and as a financial agent of the Government of Singapore. History The MAS was founded in 1971 to oversee various monetary functions associated with banking and finance. Before its establishment, monetary functions were performed by government departments and agencies. The acronym for its name resembles ''mas'', the word for 'gold' in Malay, Singapore's national language – although the acronym is pronounced with each of its initial alphabets. As Singapore progressed, an increasingly complex banking and monetary environment required more dynamic and coherent monetary administration. Therefore, in 1970, the Parliament of Singapore passed the Monetary Authority of ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Saudi Central Bank
The Saudi Central Bank ( ar, البنك المركزي السعودي), previously known as the Saudi Arabian Monetary Authority (SAMA; ar, link=no, مؤسسة النقد العربي السعودي), established in 1952, is the central bank of the Kingdom of Saudi Arabia. After the name change in 2020, the Saudi Central Bank continued to use the same acronym (SAMA). History Prior to the establishment of the Saudi Central Bank, the Saudi Hollandi Bank, a branch of the Netherlands Trading Society from 1926 acted as a de facto central bank. It kept the Kingdom's gold reserves and received oil revenues on behalf of the Saudi Arabian government. In 1928 it assisted in the establishment of a new Saudi silver coin, commissioned by King Abdulaziz which became the Kingdom's first independent currency. The Saudi Hollandia Bank handed over its responsibilities to the SAMA when it was established in 1952 and became a model for other foreign banks in the kingdom. The building's current ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Central Bank Of Russia
The Central Bank of the Russian Federation (CBR; ), doing business as the Bank of Russia (russian: Банк России}), is the central bank of the Russian Federation. The bank was established on July 13, 1990. The predecessor of the bank can be traced back to the State Bank of the Russian Empire founded in 1860. The bank is headquartered on Neglinnaya Street in Moscow. Its functions are described in the Constitution of Russia (Article 75) and in federal law. History State Bank of the Russian Empire The decision to create a State Bank of the Russian Empire was made by Emperor Peter III in May 1762, which was modeled on Bank of England and would have the right to issue bank notes. However, due to the coup on 28 June 1762 and the murder of the Czar, the project was not implemented. The outbreak in 1768 of the Russian-Turkish War and deficit of the state budget forced Catherine II, in turn, refer to the idea of issuing a paper money, and in December 1768 she formed ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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