A prerequisite for using the facilities offered by the Bundesbank for cashless payments is a current
account with the Bundesbank.
The Bundesbank manages current accounts for banks and public
authorities and, in exceptional cases - with a limited range of services - also for companies and private
individuals. Apart from the minimum reserve balances, current accounts with the Deutsche
Bundesbank do not bear interest and are run on a credit basis only. In accordance with the cover
principle laid down in the BBankG, payment orders are only executed if sufficient cover is available.
This document presents the operational
framework chosen by the Eurosystem* for the
single monetary policy in the euro area. The
document, which forms part of the Eurosystem’s
legal framework for monetary policy instruments
and procedures, is intended to serve as the
“General Documentation” on the monetary
policy instruments and procedures of the
Eurosystem, and is aimed, in particular, at
providing counterparties with the information
they need in relation to the Eurosystem’s
monetary policy framework....
In a second step, the bank needs to get the base money necessary for the credit expansion
(note that empirically, banks have to fulfil their reserve requirements only ex post so they
expand credit before getting the reserves necessary to back them). For simplicity, we assume
a minimum reserve requirement of 100 per cent on deposits, so the bank needs to get 100
pesos in central bank reserves. If the bank is solvent and has sound marketable securities, it
can borrow these reserves from the central bank either via the discount window or via open
One of the unique f iscal agency functions that the Reserve Banks provide
to the Treasury is a program through which the Reserve Banks invest
Treasury monies until needed to fund the government’s operations. The
Treasury receives funds from two principal sources: tax receipts and bor-
rowings. The funds that f low into and out of the government’s account
vary in amount throughout the year; for example, the account balance
tends to be relatively high during the April tax season.
The Government will lay an order under section 5 of the Wireless Telegraphy Act
2006. This order will direct Ofcom to reserve GI spectrum for the purposes of local
TV. To do this Ofcom will reserve an 8MHz package (the minimum allocation of
spectrum due to the way in which it is packaged in the UK) of GI at relevant locations.
The order will enable Ofcom to determine the process for awarding the multiplex
licence. The order will specify that – where appropriate – the capacity will be used by
local TV services licensed under section...