Central Banks and Monetary Authority
A central bank or monetary authority (called The Reserve System in the United States) is an institution (usually state owned) that take care about nation's currency, money supply, interest rates, economic stability, and usually provide secure local banknotes and coins, which serves as the state's legal tender.
Central banks also usually oversee the commercial banking system and is give legal authority (usually a monopoly) on increasing the monetary base in the particular country. Please read more about the definition of central bank at Wikipedia.
It is well known that the medieval European Knights Templar and the Chinese Yuan Dynasty, both ran an early prototype of a central banking system and was using some kinds of "paper money" or prototypes of modern "checks".
The establishment of the Bank of England in 1694 had laid the basis for the modern banking system.
The functions of central banking evolved slowly through the centuries. Nowadays, some modern functions include: regulating the money supply of the national currency, the sole authorized issuer of local banknotes and coins, and to function as an emergency lender to banks suffering a liquidity crisis, to name a few.
Modern central banks manage its assets, including the international reserves, usually invested abroad in foreign currencies; and do some kinds of interventions on foreign exchange markets to stabilize or defence local currency value, mean foreign exchange rate.
Central bank set local monetary policy in line with its primary objective. It also issues banknotes and coins and manages and oversees the circulation of local currency, the payment system and settlement between banks.
Depends on local law, there are some other functions central banks perform. For example, central bank could generates statistical information, could provide banking services to the state and the public sector, maintains the accounts of the state budget, or conducts transactions relating to government bond issues.
Please browse official websites of some central banks listed below in our Best Financial Directory.
Central Banks and Monetary Authority Featured Listings
Central Banks and Monetary Authority Regular Listings
Old banking venues has the character that is in these beautiful old buildings.
The banking historic spaces has a lot of unique charm and splendour.
On the above picture:
Swiss National Bank main building in Berne, Switzerland in the 1920's.
Some bankers prefer to reside in the triangular-shaped modern tower.
Central Bank of Kuwait headquarters was completed in 2013, in the Sharq area of Kuwait City.
This new and spectacular banking building is of a unique design, which include the latest high-tech gadgetry and building techniques.
Founded in 1694, the Bank of England is sometimes known as the 'Old Lady' of Threadneedle Street.
For sure this banking building is a recognizable City of London's landmark to many people and a beautiful piece of architecture.
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