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Do Central Banks Need Capital?
Author: Mr.Peter Stella
Publisher: International Monetary Fund
Published: 1997-07-01
Total Pages: 40
ISBN-13: 1451850506
DOWNLOAD EBOOK →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.
The Federal Reserve System Purposes and Functions
Author: Board of Governors of the Federal Reserve System
Publisher:
Published: 2002
Total Pages: 0
ISBN-13: 9780894991967
DOWNLOAD EBOOK →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 Bank Losses and Experiences in Selected Countries
Author: Mr.John W. Dalton
Publisher: INTERNATIONAL MONETARY FUND
Published: 2005-04-01
Total Pages: 0
ISBN-13: 9781451860917
DOWNLOAD EBOOK →Under normal circumstances, a central bank should be able to operate at a profit with a core level of earnings derived from seigniorage. Losses have, however, arisen in several central banks from a range of activities including monetary operations under extreme conditions and financial sector restructuring. The paper discusses the impact of losses on central bank operations and lays out the principles and practices for handling central bank losses. It is suggested that losses should be disclosed as a reduction of the central bank's net worth unless covered by the government. Governments may cover losses through recapitalization of the central bank, and this will create a new central bank asset, usually in the form of government securities held by the central bank. Six case studies illustrate the circumstances under which losses may arise, their coverage, and central banks' disclosure practices.
Central Bank Finances
Author: David Archer
Publisher:
Published: 2013
Total Pages: 90
ISBN-13: 9789291979318
DOWNLOAD EBOOK →Transparency and Ambiguity in Central Bank Safety Net Operations
Author: Mr.Charles Enoch
Publisher: International Monetary Fund
Published: 1997-10-01
Total Pages: 29
ISBN-13: 1451930119
DOWNLOAD EBOOK →To mitigate the risks of contagion from problems arising in the banking sector, many countries operate some form of banking sector safety net. Such safety nets generally involve a judicious mixture of transparency and ambiguity. This ambiguity may be important to counter moral hazard effects but may lead to excessive forbearance in the face of banking problems. While the scope for ambiguity has been declining, some ambiguity in the handling of individual institutions remains. In any case, ex post transparency is essential for reviewing the propriety of any assistance and preserving the authorities’ future reputation and policy credibility.
The Fiscal Abuse of Central Banks
Author: Maxwell J. Fry
Publisher: International Monetary Fund
Published: 1993-07
Total Pages: 36
ISBN-13:
DOWNLOAD EBOOK →Reviews of the fiscal activities which governments in 26 developing countries have obliged their central banks to undertake.
Central Banking in Developing Countries
Author: A. Chandavarkar
Publisher: Springer
Published: 1996-10-31
Total Pages: 304
ISBN-13: 0230371507
DOWNLOAD EBOOK →This is a comprehensive state-of-the-art survey which analyzes institutions, policies and issues of central banking in developing countries including interest-free Islamic and transition economies. It discusses objectives and functions; monetary, exchange, supervisory and developmental roles; financial liberalization; informal finance; causes and implications of central bank losses. It critically evaluates currency boards, central bank independence, ceilings on government credit and suggests radical organizational reforms, divestiture of quasi-fiscal activities and partial privatization of central banks.
Central Bank Financial Strength, Policy Constraints and Inflation
Author: Peter Stella
Publisher: International Monetary Fund
Published: 2008-02
Total Pages: 32
ISBN-13:
DOWNLOAD EBOOK →Central bank financial strength is positively associated with good policy performance. Financially weak central banks generate losses which undermine macroeconomic stability and call into question the credibility of their policies. In assessing central bank financial strength a careful examination of the policy regime and the volatility of the economic environment is necessary. Conventional measures of private enterprise financial strength- profitability and capital-can be very misleading when applied to central banks. The way in which a central bank balance sheet is strengthened matters. Providing the central bank with marketable government debt that can be used to develop a money market that in turn may become the locus of central bank monetary operations serves both to directly strengthen the institution and improve the quality of the environment in which it operates, thereby facilitating the attainment of its ultimate performance objectives.
Central Bank Losses
Author: Mario O. Teijeiro
Publisher:
Published: 1989
Total Pages: 34
ISBN-13:
DOWNLOAD EBOOK →Central bank losses usually originate when the bank takes on such nontraditional bank functions as subsidized loans to priority sectors, rescues of troubled financial institutions, or takeovers of private or public debt. There is a way to overcome problems measuring these losses.
