Imperial Bank of the North American Confederation

The Imperial Bank of the North American Confederation, sometimes shortened to simply Imperial Bank, is the chief financial institution of the North American Confederation. Acting simultaneously as a central bank, retail bank, and investment bank, the Imperial Bank represents the first legitimate micronational financial company. Founded via Imperial Charter in late 2018, the Imperial Bank was founded as a means to support the economic development of the Grand Republic of Delvera and to establish a primitive e-commerce system of payments for the Curo. Though currently a private company, with stocks divided between the three primary shareholders, plans have been announced to not only provide online banking options for account holders, but also public stock options.

History
The founding of the Imperial Bank can be traced back to a conversation between Consul Dylan Callahan and Rev. Joseph Marx regarding the economic position of the Grand Republic of Delvera towards the end of Callahan's government. The curo had been designed and was beginning to be distributed among the populace. This, coupled with the rise of several small business, seemed to imply a potential economic boom throughout the Grand Republic. It was then that both men realized that some form of banking infrastructure would be necessary to not only establish a means of private investment, but also of allowing the curo to be useful in e-commerce transactions. Rev. Marx forwarded the idea to William I, Emperor of the North American Confederation, as a means to place the newly ceded Confederation in a strong and vital position within the Grand Republic. Thus was the idea of chartering a bank conceived. Under the Constitution of the North American Confederation, the Emperor maintained a right to issue charters to institutions, organizations, and businesses; granting them special privileges, imperial approval, and government support. On the 1st of October, 2018, the Imperial Charter of the Imperial Bank of the North American Confederation was approved.

Branches
The Imperial Bank currently possesses a single branch, the Main Reserve, located at the bank's headquarters. The Main Reserve is the heart of the Imperial Bank, with all physical currency under a strong, heavily guarded security system.

Services
As a bank, the Imperial Bank provides a number of services to its clients and account holders. While these include the general services, like cash deposits and withdraws from the primary reserve (for a small 35 curo fee for cash withdraws); they also include several unique services and systems for a micronational bank.

Three Account Model
The Imperial Bank possesses the infrastructure to maintain three different account types: individual, business, and government. Individual accounts act like standard checking and savings accounts, where private citizens can keep and store their money, and utilize the bank's transfer-transaction system to purchase goods. Business accounts are used by companies and organizations to not only store their funds, but also as a critical piece within the transfer-transaction system. The Government accounts are utilized by national and provincial governments to store funds for use in public investment, direct deposit payment of government employees, and transfer-transactions with Delveran businesses.

Full Reserve System
Though the government of the Grand Republic of Delvera, through the Convention on Intermicronational Order, only obligates any financial institution to maintain a 25% reserve, the Imperial Bank currently employs a full-reserve system, where 100% the depositor's cash is maintained within the bank's reserves. This system was employed to guarantee maximum solvency and security, and to protect initial account holders as the bank's reputation and investment system are established; though discussions are in place to eventually lessen the reserve to a lower amount (with accompanying interest rates for all accounts).

E-Commerce and Online Banking
The Bank was initially established to provide the foundation for an e-commerce economic system within Delvera, whereby Delveran citizens could buy and sell materials online utilizing the curo. As macronational entities like Paypal were either unsuited or incapable of this task, the Board of the Imperial Bank endeavored to establish their own system; one that was easy and intuitive for citizens to use. The bank ultimately developed the transfer-transaction system. Under transfer-transaction, any individual, business, or government account can request a transfer of funds between themselves and a second account. Utilizing a double confirmation policy, whereby both the transfer-er and transfer-ee must confirm any transfer request, the money is then exchanged between two accounts and a "transaction" is recorded and sent to both parties. This system is currently utilized via email request with the bank's official email, although the board has announced plans to create an online banking system that will allow automated transfer-transaction requests and confirmations.

USD-Curo Exchange Program
The board has announced plans to work with the Delveran Treasury to establish a system of automatic USD-Curo Exchange. The system is planned to work by allowing citizens to transfer into a government account, held by the Treasury, when a transfer is complete; the Exchange will transfer USD via PayPal into the account holder's PayPal, which will be connected through the Bank's account information system. This system is planned to be run initially through the email request system, until the automated online banking system is established sometime in 2019.

Board of the Imperial Bank
As of June 2019, the Board of the Imperial Bank is comprised of two members.