Imperial Bank of Karnia-Ruthenia
|Established||27 November 2017|
|Currency||RMK - Ruthenian Mark|
The Imperial Bank of Karnia-Ruthenia is the central bank of Karnia-Ruthenia and is often called Imperial Bank for short. It has its headquarters in Persenburg, imperial capital. The Imperial Bank is considered an independent entity of the Imperial and Royal Government and is based on public capital and private capital.
Although not an administrative agency of the country, the monetary policy is thought to belong to the Imperial Bank, since the long-term stability of prices is macroeconomically important, while the political sector tends to prefer to adopt short-term methods, so that autonomy from the point of view of ensuring public interest and long-term political neutrality.
On 07 November 2020, the Imperial Bank was dissolve and reestablished, and Dylan Callahan, then Minister of Finances, pur in practice his plans to modernize and increase the economical activity of the Empire.
Functions of the Bank[edit | edit source]
According to the Imperial Decree n. 119-2017 that created the bank, the missions of the Imperial Bank are the issuance and management of banknotes, implementation of monetary policy, provide settlement services and ensuring the stability of the financial system, Treasury and government securities-related operations, international activities and compilation of data, economic analyses and research activities, among others.
Political decisions[edit | edit source]
The Imperial Bank has a committee with diverse authority, issuing political decisions on issues related to monetary adjustment and policies of other operations and employees. The head of the policy committee is the chairperson and he or she is elected by the members of the committee. At the meetings, it is necessary for the president to attend. The committee's procedures shall be decided by a majority of the members present at the meeting and the Minister of Finances and the Chancellor can participate by stating their opinions.
Governance[edit | edit source]
The Governor is the outstanding figure, representing the institution before the government and other public and private personalities, national and foreign. The Auditor supervises the operations of Imperial Bank and, based on the results, may present opinions to the Minister of Finances and the Chancellor. Finally, the Director assists in the administration of the bank, assisting the governor and the rest of the institution's hierarchy.
List of Governors of Imperial Bank[edit | edit source]
- 27 November 2017 - present: vacant.
See also[edit | edit source]
References[edit | edit source]
- "ECONOMY: A MISSION FOR THE EMPIRE.", Imperial and Royal Government, 09 February 2018.
- Ministerial Order No. 02, 7 November 2020.
- "Imperial and Royal Decree n. 119-2017, a bill about the creation of the Imperial Bank of Karnia-Ruthenia", 27 November 2017.
- "National Bank created", Imperial and Royal Government, 27 November 2017.