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Sveriges Riksbank
Sveriges Riksbank, or simply the Riksbank, is the central bank of Sweden. Founded in 1668, it is the world's oldest surviving central bank, and the third oldest bank in continuous operation. Prior to World War I, it was also the only state-owned central bank outside of the Russian Empire. 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, does not translate its name into English but rather uses its Swedish name ''the Riksbank'' in its official English-language communications also. 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 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
State Ownership
State ownership, also called public ownership or government ownership, is the ownership of an Industry (economics), industry, asset, property, or Business, enterprise by the national government of a country or State (polity), state, or a public body representing a community, as opposed to an individual or Private property, private party. Public ownership specifically refers to industries selling goods and services to consumers and differs from Public good, public goods and government services financed out of a Government budget, government's general budget. Public ownership can take place at the Central government, national, regional government, regional, local government, local, or municipal levels of government; or can refer to non-governmental public ownership vested in autonomous public enterprises. Public ownership is one of the three major forms of property ownership, differentiated from private, Collective ownership, collective/cooperative, and common ownership. In marke ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Clemency
A pardon is a government decision to allow a person to be relieved of some or all of the legal consequences resulting from a criminal conviction. A pardon may be granted before or after conviction for the crime, depending on the laws of the jurisdiction. Pardons can be viewed as a tool to overcome miscarriage of justice, allowing a grant of freedom to someone who is believed to be wrongly convicted or subjected to an excessive penalty. The second-best theory of pardons views pardons as second-best to fair justice. Pardons can be granted in many countries when individuals are deemed to have demonstrated that they have "paid their debt to society", or are otherwise considered to be deserving of them. In some jurisdictions of some nations, accepting a pardon may ''implicitly'' constitute an admission of guilt; the offer is refused in some cases. Cases of wrongful conviction are in recent times more often dealt with by appeal rather than by pardon; however, a pardon is sometimes ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Monetary Policy
Monetary policy is the policy adopted by the monetary authority of a nation to affect monetary and other financial conditions to accomplish broader objectives like high employment and price stability (normally interpreted as a low and stable rate of inflation). Further purposes of a monetary policy may be to contribute to economic stability or to maintain predictable exchange rates with other currencies. Today most central banks in developed countries conduct their monetary policy within an inflation targeting framework, whereas the monetary policies of most developing countries' central banks target some kind of a fixed exchange rate system. A third monetary policy strategy, targeting the money supply, was widely followed during the 1980s, but has diminished in popularity since then, though it is still the official strategy in a number of emerging economies. The tools of monetary policy vary from central bank to central bank, depending on the country's stage of development, inst ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Copyright
A copyright is a type of intellectual property that gives its owner the exclusive legal right to copy, distribute, adapt, display, and perform a creative work, usually for a limited time. The creative work may be in a literary, artistic, educational, or musical form. Copyright is intended to protect the original expression of an idea in the form of a creative work, but not the idea itself. A copyright is subject to limitations based on public interest considerations, such as the fair use doctrine in the United States and fair dealings doctrine in the United Kingdom. Some jurisdictions require "fixing" copyrighted works in a tangible form. It is often shared among multiple authors, each of whom holds a set of rights to use or license the work, and who are commonly referred to as rights holders. These rights normally include reproduction, control over derivative works, distribution, public performance, and moral rights such as attribution. Copyrights can be granted by ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Credit (finance)
Credit (from Latin verb ''credit'', meaning "one believes") is the trust which allows one party to provide money or resources to another party wherein the second party does not reimburse the first party immediately (thereby generating a debt), but promises either to repay or return those resources (or other materials of equal value) at a later date. The resources provided by the first party can be either property, fulfillment of promises, or performances. In other words, credit is a method of making reciprocity formal, legally enforceable, and extensible to a large group of unrelated people. The resources provided may be financial (e.g. granting a loan), or they may consist of goods or services (e.g. consumer credit). Credit encompasses any form of deferred payment. Credit is extended by a creditor, also known as a lender, to a debtor, also known as a borrower. Etymology The term "credit" was first used in English in the 1520s. The term came "from Middle French cré ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Value (economics)
In economics, economic value is a measure of the benefit provided by a goods, good or service (economics), service to an Agent (economics), economic agent, and value for money represents an assessment of whether financial or other resources are being used effectively in order to secure such benefit. Economic value is generally measured through units of currency, and the interpretation is therefore "what is the maximum amount of money a person is willing and able to pay for a good or service?” Value for money is often expressed in comparative terms, such as "better", or "best value for money", but may also be expressed in absolute terms, such as where a deal does, or does not, offer value for money. Among the competing schools of economic theory there are differing Theory of value (economics), theories of value. Economic value is ''not'' the same as Price, market price, nor is economic value the same thing as market value. If a consumer is willing to buy a good, it implies tha ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Deposit Account
A deposit account is a bank account maintained by a financial institution in which a customer can deposit and withdraw money. Deposit accounts can be savings accounts, current accounts or any of several other types of accounts explained below. Transactions on deposit accounts are recorded in a bank's books, and the resulting balance is recorded as a liability of the bank and represents an amount owed by the bank to the customer. In other words, the banker-customer (depositor) relationship is one of debtor-creditor. Some banks charge fees for transactions on a customer's account. Additionally, some banks pay customers interest on their account balances. Types of accounts * How banking works In banking, the verbs "deposit" and "withdraw" mean a customer paying money into, and taking money out of, an account, respectively. From a legal and financial accounting standpoint, the noun "deposit" is used by the banking industry in financial statements to describe the liability ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Income
Income is the consumption and saving opportunity gained by an entity within a specified timeframe, which is generally expressed in monetary terms. Income is difficult to define conceptually and the definition may be different across fields. For example, a person's income in an economic sense may be different from their income as defined by law. An extremely important definition of income is Haig–Simons income, which defines income as ''Consumption + Change in net worth'' and is widely used in economics. For households and individuals in the United States, income is defined by tax law as a sum that includes any wage, salary, profit, interest payment, rent, or other form of earnings received in a calendar year.Case, K. & Fair, R. (2007). ''Principles of Economics''. Upper Saddle River, NJ: Pearson Education. p. 54. Discretionary income is often defined as gross income minus taxes and other deductions (such as mandatory pension contributions), and is widely used as a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Interest
In finance and economics, interest is payment from a debtor or deposit-taking financial institution to a lender or depositor of an amount above repayment of the principal sum (that is, the amount borrowed), at a particular rate. It is distinct from a fee which the borrower may pay to the lender or some third party. It is also distinct from dividend which is paid by a company to its shareholders (owners) from its profit (economics), profit or Reserve (accounting), reserve, but not at a particular rate decided beforehand, rather on a pro rata basis as a share in the reward gained by risk taking entrepreneurs when the revenue earned exceeds the total costs. For example, a customer would usually pay interest to debt, borrow from a bank, so they pay the bank an amount which is more than the amount they borrowed; or a customer may earn interest on their savings, and so they may withdraw more than they originally deposited. In the case of savings, the customer is the lender, and the ban ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Tumba, Sweden
Tumba is a bimunicipal urban areas of Sweden, locality and the seat of Botkyrka Municipality in Stockholm County, Sweden with 37,852 inhabitants in 2010. A part of its statistical Urban areas in Sweden, urban area, called Rönninge, is in Salem Municipality. The population is 35,311 (2005). The Swedish swedish krona, krona banknotes are printed by Crane AB at Tumba Bruk, in Tumba. Tumba is situated half-way between Stockholm and Södertälje and is considered a Stockholm suburb. In Tumba and Rönninge there are stations on the Stockholm commuter rail network. Tumba also has a High School (Tumba gymnasium) with almost 1.000 students. The Alfa Laval company was founded in Tumba by Gustaf de Laval and remains in the suburb, as does DeLaval, split from Alfa Laval in 1991. Tumba is diverse, with high-rise apartment buildings and single-family houses. Tumba also has a shopping mall, Tumba Centrum, near the railway station. The melodic death metal band Amon Amarth is from Tumba. Histo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Tumba Bruk
Tumba Bruk was the printing company responsible for the manufacturing of the Swedish krona banknotes. The company was founded by Sveriges Riksbank in 1755 to produce banknotes, making it the world's oldest factory of its kind. In 2002, the company was sold to the current owner, banknote paper supplier Crane & Co. It is located in Tumba, close to Stockholm. The facility and its park were designated a listed building in 2001. Background In 1661, Sweden's first banknotes were produced by Stockholm Banco, which were used as credit notes for its customers. These notes soon became worthless, however, when Stockholm Banco went bankrupt in 1668, and banknotes were subsequently prohibited. Banknotes received a second chance in 1701 when the predecessor to Sveriges Riksbank started handing out ''transportsedlar,'' notes that worked in a similar way to modern cheques. These notes were easily forged since the paper used for the production of the notes was imported, and these transports ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
