Reserve Bank of Kirav
 Exterior of the Reserve Bank of Kirav building. | |
| Headquarters | West Valēka, Kiygrava |
|---|---|
| Established | 21106 |
| Ownership | Distributed |
| Governor | Xristína Tírestin |
| Central bank of | Kiravian Federacy |
| Currency | Kiravian saar (KSR) |
| Reserve requirements | 0 - 15% |
| Bank rate | 0.15% to 1.25% |
| Interest rate target | 0 to 0.25% |
| Interest on reserves | 0.25% |
| Interest paid on excess reserves? | Yes |
| Website | wwww.rbk.ār.kr |
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 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.
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 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.
Monetary Policy Role
Public-sector Banking
The Reserve Bank of Kirav provides accounts and performs normal banking services for the Federal Government and the non-state (e.g. territorial) federal subjects of the Kiravian Federacy, as well as for many state governments on a voluntary basis. Important governmental and semi-governmental organisations such as the Social Pension System, Federal Supplemental Health Endowment, and Kiravian People's Sovereign Wealth Fund also hold accounts with the RBK.
Currency Reserves
The RBK also holds substantial assets that are not specified in saars, including bullion reserves (in copper, gold, silver, platinum, iridium, and rhodium), monetary whiskey reserves, securities in foreign currency, credit with foreign banks, foreign exchange, and others. Currency reserves can be invested for profit and also provide a possibility of intervening in the market if the exchange rate fluctuates strongly.
In 21201, the RBK impanelled a study commission to investigate the potential value of accumulating cryptocurrency reserves.