Đa phần, Chính phủ các nước trên thế giới sử dụng cụm từ “Central Bank” (Ngân hàng Trung ương), còn lại sử dụng cụm từ “Federal Reserve” (Dự trữ Liên bang) như Cục Dự trữ liên bang Mỹ – FED, hay “Reserve Bank” (Ngân hàng dự trữ) chẳng hạn như: Úc (Reserve of Australia), New Zealand (Reserve Bank of New Zealand), Ấn Độ (Reserve Bank of India)… Mặc dù, về cơ bản, chức năng, nhiệm vụ của Central Bank giống như FED hay Reserve Bank, nhưng giữa Central Bank và FED vẫn có những đi...
Resistance to establishment of a central bank
Fear of centralized power
Distrust of moneyed interests
First U.S. experiments with a central bank terminated in 1811 and in 1836
No lender of last resort
Nationwide bank panics on a regular basis
Panic of 1907 so severe that the public was convinced a central bank was needed
Federal Reserve Act of 1913
Elaborate system of checks and balances
Invite you to consult the lecture content "Central banks: A global perspective" below. Contents of lectures introduce to you the content: Structure of the federal reserve system how independent is the fed, explaining central bank behavior, structure and independence of the european central bank, central banks in other countries. Hopefully document content to meet the needs of learning, work effectively.origins of the federal reserve system.
Chapter 19 - Exchange-rate policy and the central bank. In this chapter, students will be able to understand: When capital flows freely across a country's borders, fixing the exchange rate means giving up domestic monetary policy; central banks can intervene in foreign exchange markets; the decision to fix the exchange rate has costs, benefits, and risks; there are a number of examples of exchange-rate systems.
Chapter 15 - Central banks in the world today. This chapter begins to explain the role of central banks in our economic and financial system. It will describe the origins of modern central banking. It will examine the complexities policymakers now face in meeting their responsibilities. It will highlight a central question that has become politically controversial: what is the proper relationship between a central bank and the government?
The world’s leading central banks played a key role in bringing the financial system and the economy back to safe harbor after the peak of the financial crisis in 2008. They acted in unprecedented fashion to prevent the financial system from capsizing and, over time, to restore financial and economic stability. Chapter 16 provides knowledge of the structure of central banks: The federal reserve and the European central bank.
Chapter 17 - The central bank balance sheet and the money supply process. In this chapter, we need to understand how the central bank interacts with the financial system. What is it that central banks buy and sell? What are the assets and liabilities on their balance sheets? How do they control those assets and liabilities, and why might they want to hide them from the public?...
Chapter 18 - Monetary policy: Stabilizing the domestic economy. In this chapter, students will be able to understand: The Federal Reserve has four conventional monetary policy tools, the European Central Bank's primary objective is price stability, monetary policymakers use several tools to meet their objectives, the Taylor rule is a simple equation that describes movements in the federal funds rate,...
Chapter 21 - Output, inflation, and monetary policy. The objective of this chapter is to understand fluctuations in inflation and real output and how central banks use conventional interest-rate policy to stabilize them. We will develop a macroeconomic model of fluctuations in the business cycle in which monetary policy plays a central role.
This chapter presents the following content: The need for independence; decision-making by committee; the need for accountability and transparency; the policy framework, policy trade-offs, and credibility; the central bank’s balance sheet; assets;...
Professional English in Use Finance is suitable for intermediate students and above. It includes 50 units covering all aspects of financial vocabulary from Accounting to Borrowing and Lending, Central Banking to Venture Capital and many more areas including financial idioms and metaphors. Primarily designed as a self-study reference and practice book, it can also be used for classroom work and one-to-one lessons. This book is a must for both trainers and learners of ESP and Business English who need to use English in a financial environment.
A second problem often observed in developing countries in the credit-investment process is
that loans are allocated according to political considerations or ties between bank managers
and the corporate sector. This practice is problematic for two reasons: First, even if the central
bank can create liquidity and the financial sector as a whole is thus not be constrained by a
lack of base money, banks in developing countries are often weakly capitalized. Legal
minimum capital-adequacy ratios hence limit the overall amount of loans provided by the
Flexible, transparent, accountable
Almost immediate signals help fix inflation expectations and produce less inflation
Almost immediate accountability
Must be a strong and reliable relationship between the goal variable and the targeted monetary aggregate
We model the impact of bank mergers on loan competition, reserve holdings,
and aggregate liquidity. A merger changes the distribution of liquidity
shocks and creates an internal money market, leading to financial cost efficiencies
and more precise estimates of liquidity needs. The merged banks
may increase their reserve holdings through an internalization effect or decrease
them because of a diversification effect. The merger also affects loan
market competition, which in turn modifies the distribution of bank sizes
and aggregate liquidity needs.
Four years after the launch of the euro in January 1999 and while the
European Central Bank (ECB) plans a review about its monetary policy
strategy, it seems interesting to study the link between monetary policy, the
long-term perception of ináation and long-term interest rates. In the European
case, it is possible to use the German term structure as a benchmark.
The Central Bank today publishes statistics for Q3 2012 on investment funds (IFs) resident in
Ireland. IFs, measured by total shares/units in issue, increased by 4.4 per cent to €892 billion
by end-Q3 2012, driven by revaluations of €24.3 billion and net new subscriptions of
€13.5 billion. Growth was concentrated in equity and bond funds, at 5.3 and 4.5 per cent
respectively, though was also evident in all fund types. During the same period, European
units/shares in issue...
Paying a market rate of interest on reserves could create cash
flow problems for a central bank. One problem is that interest
on reserves would be paid on a daily basis, but interest earnings
would not accrue on a daily basis. Interest on short-term
securities is paid on a discount basis rather than on a daily basis
and interest on longer term securities is paid at infrequent
Tham khảo tài liệu 'triennial central bank survey: foreign exchange and derivatives market activity in april 2010', tài chính - ngân hàng, ngân hàng - tín dụng phục vụ nhu cầu học tập, nghiên cứu và làm việc hiệu quả
The extension of central bank liquidity eased the pace of asset-shedding
observed in late 2011, but did not turn the underlying trend. If the banks in the
EBA sample, for instance, failed to roll over their senior unsecured debt
maturing over a two-year horizon, which amounts to more than €1,100 billion
(€600 billion among banks with a capital shortfall), they would have to shed
funded assets in equal measure. By covering these funding needs, the LTROs
and dollar swap lines helped avert an accelerated deleveraging process.