The capital needs of central banks / / edited by Sue Milton and Peter Sinclair

• Record Nr.: UNINA9910785314803321
• Pubbl/distr/stampa: New York : , : Routledge, , 2011
• ISBN: 1-136-89589-2; 1-136-89590-6; 1-282-92998-4; 9786612929984; 0-203-84103-4
• Descrizione fisica: 1 online resource (225 p.)
• Collana: Routledge international studies in money and banking ; ; 61
• Altri autori (Persone): MiltonSue <1954->; SinclairP. J. N
• Disciplina: 332.1/1
• Soggetti: Bank capital; Bank management; Banks and banking, Central
• Lingua di pubblicazione: Inglese
• Formato: Materiale a stampa
• Livello bibliografico: Monografia
• Note generali: Consists of papers produced for a conference at the Centre for Central Banking Studies in London, hosted by the Bank of England and concluded before the events of 2008.
• Nota di bibliografia: Includes bibliographical references and index.
• Nota di contenuto: Book Cover; Title; Copyright; Contents; Figures; Tables; Contributors; Acknowledgements; Abbreviations; 1 Central banks' capital: An introduction; 2 Central bank finances and independence: How much capital should a central bank have?; 3 Central bank financial strength and macroeconomic policy performance; 4 Financing the central bank: Capital adequacy and financial independence - an accountant's perspective; 5 Securing financial independence in the legal basis of a central bank; 6 Central bank capital adequacy for central banks with or without a monetary policy; 7 Exchange rate appreciation and negative central bank capital: Is there a problem?8 Central bank losses, electronic money and contestable central banking; 9 Funding models for central banks: The European Central Bank - a special case?; 10 Central bank funding models and their risk-return profile; 11 How ALM techniques can help central ; banks; Index
• Sommario/riassunto: Central banks have evolved over many years, and sometimes centuries, as policy-making, not profit-making, institutions, and yet they are structured legally and financially like 'for-profit' companies of the twenty-first century. The question is what is an appropriate level of equity, or capital, for a central bank to have so that it can function for policy effectiveness over profit-maximisation, without hindrance to the achievement and maintenance of policy goals?This collection takes the reader through historical, theoretical and factual discussions on why central banks exist