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Capitalizing Central Banks

2005-01-01 Business & Economics
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Release : 2005-01-01
Genre : Business & Economics
Kind : eBook
Book Rating : 34X/5 ( reviews)

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Book Synopsis Capitalizing Central Banks by : Mr.Alain Ize

Download or read book Capitalizing Central Banks written by Mr.Alain Ize. This book was released on 2005-01-01. Available in PDF, EPUB and Kindle. Book excerpt: This paper provides a simple, quantitative, net worth-based, approach to assessing the need for central bank capital. It derives a concept of "core capital" (a function of the central bank's operating expenditures and the carrying cost of its international reserves) as the minimum capital needed by a central bank to ensure the credibility of its inflation target. The approach is illustrated with the published accounts of three loss-making central banks and selected accounting entries for a broader sample of central banks. Policy implications are explored. In particular, the paper argues that central bank capitalizations cannot be automatic and require instead a broad policy debate.

Do Central Banks Need Capital?

1997-07-01 Business & Economics
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Release : 1997-07-01
Genre : Business & Economics
Kind : eBook
Book Rating : 506/5 ( reviews)

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Book Synopsis Do Central Banks Need Capital? by : Mr.Peter Stella

Download or read book Do Central Banks Need Capital? written by Mr.Peter Stella. This book was released on 1997-07-01. Available in PDF, EPUB and Kindle. Book excerpt: 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 Capital Needs of Central Banks

2010-10-12 Business & Economics
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Release : 2010-10-12
Genre : Business & Economics
Kind : eBook
Book Rating : 906/5 ( reviews)

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Book Synopsis The Capital Needs of Central Banks by : Sue Milton

Download or read book The Capital Needs of Central Banks written by Sue Milton. This book was released on 2010-10-12. Available in PDF, EPUB and Kindle. Book excerpt: This collection takes the reader through historical, theoretical and factual discussions on why central banks exist and the role – actual and intended – they have in assisting their home nation in achieving monetary and financial stability.

Currencies, Capital, and Central Bank Balances

2019-04-01 Business & Economics
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Release : 2019-04-01
Genre : Business & Economics
Kind : eBook
Book Rating : 369/5 ( reviews)

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Book Synopsis Currencies, Capital, and Central Bank Balances by : John Cochrane

Download or read book Currencies, Capital, and Central Bank Balances written by John Cochrane. This book was released on 2019-04-01. Available in PDF, EPUB and Kindle. Book excerpt: Drawing from their 2018 conference, the Hoover Institution brings together leading academics and monetary policy makers to share ideas about the practical issues facing central banks today. The expert contributors discuss U.S. monetary policy at individual central banks and reform of the international monetary and financial system. The discussion is broken down into seven key areas: 1) International Rules of the Monetary Game; 2) Banking, Trade and the Making of the Dominant Currency; 3) Capital Flows, the IMF's Institutional View and Alternatives; 4) Payments, Credit and Asset Prices; 5) Financial Stability, Regulations and the Balance Sheet; 6) The Future of the Central Bank Balance Sheet; and 7) Monetary Policy and Reform in Practice. With in-depth discussions of the volatility of capital flows and exchange rates, and the use of balance sheet policy by central banks, they examine relevant research developments and debate policy options.

Central Bank Capital Needs and Performance

2016
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Release : 2016
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Book Synopsis Central Bank Capital Needs and Performance by : Gabriella Gianna Hunter

Download or read book Central Bank Capital Needs and Performance written by Gabriella Gianna Hunter. This book was released on 2016. Available in PDF, EPUB and Kindle. Book excerpt: Central banks can go broke. History has given many examples of monetary institutions that went into bankruptcy and have been recapitalized in order to maintain their monetary policy. For a long time, the consequences of central bank insolvency were considered to be an issue reserved for developing economies and unstable economic environments. Only recent developments have brought the subject into the economic debate regarding historically stable and profitable institutions like the Swiss National Bank, which presumably faces a heavy loss for 2015. However, the implications of low or even negative central bank capitalization for performance in regard to monetary policy objectives remain highly elusive and have sparked much discussion. The financial situation portrayed in the balance sheet of a central bank gives little indication of whether the institution has performed according to the stipulated policy goals. Even though research in the field has been somewhat developed in recent years, a well-structured analysis of the question of whether and to what extent central bank capital affects performance does not exist as of this writing. What is lacking is a thorough theoretical framework to assess the empirical evidence from recent studies. This paper tries to fill this gap by examining the fundamentals of central banking and its differences to commercial banking. It is shown that negative central bank capital does lead to poor performance. However, the channels through which it influences monetary policy are complex, and, therefore, a multidimensional model is elaborated. Tested against empirical evidence from previous studies, the model appears to have good explanatory power on how the ability to issue money influences the effects of low capital on inflation. The significance of the currency of denomination of assets and liabilities for performance, on the other hand, has been crucially underestimated in the literature.

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