Imperial Bank of Caphiria
|Central bank of||The Imperium of Caphiria|
|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|
The Imperial Bank of Caphiria (Latin: Uccedonentaria) is the central banking system of the Imperium of Caphiria. It was formally created in 1106 by Imperial decree as a result of the political and economic instability at the time. Over time, the roles and responsibilities of the Uccedonentaria have expanded, and its structure has evolved.
The Comitium Consularis is credited with the initial conception and laid out key objectives for monetary policy, what would eventually form the basis for the Oeconomici Eendatione Imperium (Laws and Governance of Imperial Finance) which created the Uccedonentaria and The Three Points: Maximum employment, stable prices, and moderate long-term interest rates. The first two objectives are sometimes referred to as the Financial dual mandate and is often revered in a holy manner within the financial elite. Its duties have expanded over the years, and as of 2025 also include supervising and regulating banks, maintaining the stability of the financial system and providing financial services to depository institutions, the Imperium, and foreign official institutions. The Uccedonentaria conducts research into the economy and releases numerous publications, such as the Uccedonentari Biblium.
The Uccedonentaria's structure is composed of the presidentially appointed Board of Governors or Imperial Reserve Board (IRB), partially presidentially appointed Imperial Open Market Committee (iOMC), twelve regional Imperial Banks located in major cities throughout the imperium, numerous privately owned Caphiravian member banks, and various advisory councils. The Imperium sets the salaries of the Board's seven governors. Nationally chartered commercial banks are required to hold stock in the Uccedonentaria of their region, which entitles them to elect some of their board members. The iOMC sets monetary policy and consists of all seven members of the Board of Governors and the twelve regional bank presidents though only five bank presidents vote at any given time: the president of the Venceia Bank and four others who rotate through five-year terms. Thus, the Uccedonentaria has both private and public components to serve the interests of the public and private banks. The structure is considered unique among central banks.
The Imperium receives all the system's annual profits, after a statutory dividend of 10% on member banks' capital investment is paid, and an account surplus is maintained. In 2020, the Federal Reserve made a profit of $20 trillion and transferred $19 trillion to the Imperial Treasury.