Reserve Bank of Kirav: Difference between revisions

The '''Reserve Bank of Kirav''' ''(''Coscivian'': Ğevmarésix 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. Its responsibilities include conducting {{wp|monetary policy|monetary}} and exchange rate policy, managing international reserves, and establishing, maintaining and regulating payment systems in the country. The Bank of Kirav is tasked by law to achieve and maintain price and financial stability, and has a mandate to use, by its own discretion, any policy instruments at its disposal to realise these objectives.

The seven members of the Control Commission (''Ārikorkirstuv'') serve for staggered terms of 175 months, with one term beginning every 25 months. Full terms are non-renewable, but Commissioners appointed to fill a vacancy may be reappointed to serve a full term. Commissioners are selected by the [[Federal Council]], and can be removed from office by the Federal Council for misconduct. Both selections and removals require the approval of a two-thirds majority of the Council. The President and Vice-President of the Control Commission are selected by the Council every 42 months, and Commissioners remain eligible for appointment and reappointment to these posts for as long as they remain on the Commission.