Reserve Bank of Kirav: Difference between revisions

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The '''Reserve Bank of Kirav''' ''(''Coscivian'': Ɣevmarésix Mēntiuv Kiravsk )'' is the central bank of the [[Kiravian Federacy]]. It was formally created in 21106 by the [[Index of Kiravian Legislation#Currency Moderation Act|Currency Moderation Act]] as part of the [thing going on at the time]. Over time, the roles and responsibilities of the Reserve Bank of Kirav have expanded, and its structure has evolved.

==Organisation & Governance==

Members of the Control Commission (''Ārikorkirstuv'') of the RBK are selected by and accountable to the [[Council of States]].

The Reserve Bank of Kirav has its main offices in the [[Valēka#Cantons|West Valēka]] canton of [[Valēka]], where the Control Commission meets and most personnel are based. However, the Bank's official address is that of its Kartika offices in the city's E-District, where the federal government's accounts with the bank are handled.

When established in 21106, the RBK was a government-chartered entity with capital contributed by the country's principal interstate banking groups. After the rise to power of the Kirosocialist Party, one of the first major actions of the socialist government was to fully nationalise the bank and convert it into a government agency, the People's Bank of Kirav, which took direction from the [[Economic & Social Soviet]]. After Kirosocialism, the central bank's name and independence were restored, but the bank remains ~~100~~% state~~-owned~~ as of 21209. The [[Shaftonist-Republican Alliance]] and the [[Caritist Social Union]] have both pledged support for restructuring the bank towards a "distributed ownership" model that would allow for some degree of ownership ~~and voting input~~ by ~~state governments,~~ interstate banking groups, ~~and~~ credit union federations, but no concrete plan has yet received broad political approval. The Coscivian National Congress and New Deal Alliance support retaining full ~~federal~~ ownership, as do the Social Credit Party and creditist-minded members of the CSU.

Shares in the ECB are not transferable and cannot be used as collateral. The NCBs are the sole subscribers to and holders of the capital of the ECB.

Today, RBK capital is about ◊11 billion, 50% of which is held by the Government of the Kiravian Federacy, and 50% by the governments of the several States of the Kiravian Federacy as shareholders. The states’ shares of the Bank's capital are calculated using a capital key which reflects each state's share of the total population and gross domestic product of the Federacy. The RBK adjusts the shares every ten years and whenever the number of shareholders changes. The adjustment is made on the basis of data provided by the Secretariat of the Exchequer. Currently, the largest state shareholders are [[Kiygrava|the Kiygrava]], [[Cascada]], [[Devalōmara]], and the [[Sydona Islands]]. This ownership model was introduced with the XYth Amendment to the Kiravian constitution, which also granted the bank constitutional (rather than merely statutory) status. The XYth Amendment made subscription to the RBK's capital a duty of state governments and a requirement for the elevation of territories to full statehood or the admission of external entities as states. This requirement has deterred many Kiravian territories, especially the remaining territories in inland and northwestern [[Great Kirav]], from seeking full statehood, as paying up their capital share would be prohibitively expensive for most.

When established in 21106, the RBK was a government-chartered entity with capital contributed by the country's principal interstate banking groups. After the rise to power of the Kirosocialist Party, one of the first major actions of the socialist government was to fully nationalise the bank and convert it into a government agency, the People's Bank of Kirav, which took direction from the [[Economic & Social Soviet]]. After Kirosocialism, the central bank's name and independence were restored, but the bank remains fully owned by governments (50% federal, 50% state) as of 21209. The [[Shaftonist-Republican Alliance]] and the [[Caritist Social Union]] have both pledged support for restructuring the bank towards a "distributed ownership" model that would allow for some degree of ownership by interstate banking groups, credit union federations, and other entities, but no concrete plan has yet received broad political approval. The Coscivian National Congress and New Deal Alliance support retaining full government ownership, as do the Social Credit Party and creditist-minded members of the CSU.

==Monetary Policy Role==

@@ Line 31: / Line 31: @@
 The '''Reserve Bank of Kirav''' ''(''Coscivian'': Ɣevmarésix Mēntiuv Kiravsk )'' is the central bank of the [[Kiravian Federacy]]. It was formally created in 21106 by the [[Index of Kiravian Legislation#Currency Moderation Act|Currency Moderation Act]] as part of the [thing going on at the time]. Over time, the roles and responsibilities of the Reserve Bank of Kirav have expanded, and its structure has evolved.
+==Organisation & Governance==
 Members of the Control Commission (''Ārikorkirstuv'') of the RBK are selected by and accountable to the [[Council of States]].
 The Reserve Bank of Kirav has its main offices in the [[Valēka#Cantons|West Valēka]] canton of [[Valēka]], where the Control Commission meets and most personnel are based. However, the Bank's official address is that of its Kartika offices in the city's E-District, where the federal government's accounts with the bank are handled.
-When established in 21106, the RBK was a government-chartered entity with capital contributed by the country's principal interstate banking groups. After the rise to power of the Kirosocialist Party, one of the first major actions of the socialist government was to fully nationalise the bank and convert it into a government agency, the People's Bank of Kirav, which took direction from the [[Economic & Social Soviet]]. After Kirosocialism, the central bank's name and independence were restored, but the bank remains 100% state-owned as of 21209. The [[Shaftonist-Republican Alliance]] and the [[Caritist Social Union]] have both pledged support for restructuring the bank towards a "distributed ownership" model that would allow for some degree of ownership and voting input by state governments, interstate banking groups, and credit union federations, but no concrete plan has yet received broad political approval. The Coscivian National Congress and New Deal Alliance support retaining full federal ownership, as do the Social Credit Party and creditist-minded members of the CSU.
+Shares in the ECB are not transferable and cannot be used as collateral. The NCBs are the sole subscribers to and holders of the capital of the ECB.
+Today, RBK capital is about ◊11 billion, 50% of which is held by the Government of the Kiravian Federacy, and 50% by the governments of the several States of the Kiravian Federacy as shareholders. The states’ shares of the Bank's capital are calculated using a capital key which reflects each state's share of the total population and gross domestic product of the Federacy. The RBK adjusts the shares every ten years and whenever the number of shareholders changes. The adjustment is made on the basis of data provided by the Secretariat of the Exchequer. Currently, the largest state shareholders are [[Kiygrava|the Kiygrava]], [[Cascada]], [[Devalōmara]], and the [[Sydona Islands]]. This ownership model was introduced with the XYth Amendment to the Kiravian constitution, which also granted the bank constitutional (rather than merely statutory) status. The XYth Amendment made subscription to the RBK's capital a duty of state governments and a requirement for the elevation of territories to full statehood or the admission of external entities as states. This requirement has deterred many Kiravian territories, especially the remaining territories in inland and northwestern [[Great Kirav]], from seeking full statehood, as paying up their capital share would be prohibitively expensive for most.
+When established in 21106, the RBK was a government-chartered entity with capital contributed by the country's principal interstate banking groups. After the rise to power of the Kirosocialist Party, one of the first major actions of the socialist government was to fully nationalise the bank and convert it into a government agency, the People's Bank of Kirav, which took direction from the [[Economic & Social Soviet]]. After Kirosocialism, the central bank's name and independence were restored, but the bank remains fully owned by governments (50% federal, 50% state) as of 21209. The [[Shaftonist-Republican Alliance]] and the [[Caritist Social Union]] have both pledged support for restructuring the bank towards a "distributed ownership" model that would allow for some degree of ownership by interstate banking groups, credit union federations, and other entities, but no concrete plan has yet received broad political approval. The Coscivian National Congress and New Deal Alliance support retaining full government ownership, as do the Social Credit Party and creditist-minded members of the CSU.
 ==Monetary Policy Role==

Reserve Bank of Kirav: Difference between revisions

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