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Auroran Central Bank: Difference between revisions
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[[Category:Oan's links]] [[Category:Aurora]]
{{Infobox organization
| name = Auroran Central Bank
| full_name = Auroran Central Bank
| native_name =
| image = [[File:Auroran Bank.jpg|200px]]
| image_size = 200
| caption = Seat of the Auroran Central Bank
| logo = [[File:Auroran Central Bank Logo.png|200px]]
| abbreviation = ACB
| predecessor = Bank of [[Staynes]]
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| language = [[Wikipedia:English|Staynish]]
| leader_title = President of the Auroran Central Bank
| leader_name =
| main_organ = Board of Governors
}}
The '''Auroran Central Bank''' (ACB) is the central bank of the [[Kirib]] Monetary Union (kiribzone) – a union of nations primarily located in [[Aurora]]. The bank is located in [[Tarov]], [[Tivot]] and is headed by President of the ACB,
==
The Bank of Staynes was the central bank of Great Morstaybishlia and its empire. It issued the kirib as the currency of the Empire. Through bilateral arrangements with the Bank of Staynes, other Auroran nations made use of the kirib. As Great Morstaybishlia democratized and decolonized and the economic and political links of the Auroran nations especially those using the kirib became more intertwined, the kirib became more deeply entwined with economics of Aurora. To both relieve the Bank of Staynes of the incredible financial pressure of maintaining the currency and to respect the equality of participating nations, the Bank of Staynes surrendered control of the kirib.
The participating nations also sought to prevent the Great Morstaybishlian economy from carrying the payment needs and financial issues of other states while also freeing themselves from the political and economic fortunes of Great Morstaybishlia. The nation’s which used the kirib held a meeting where they agreed on how the kirib should be structured. This involved establishing the Kirib Monetary Union with the ACB at the head. The location of the bank was stated as Tarov, Tivot, a country which was notoriously neutral and had amicable relations with founding countries.
==
The Charter of the ACB is the founding document of the ACB. It was agreed on by the founding states of the Kiribzone and is binding on all members. It sets out the purpose, structure, powers and duties of the ACB and the admission of member states. Member states who are admitted are
The bank was designed to be insulated from the political upheavals of the Auroran Continent. Although it has had relationships with the major international organizations of the continent such as the Auroran Continental Assembly, [[Auroran Union]] and more recently, the [[United Nations of the Auroran Continent]], it is not bound by their rules and is not obligated for follow their instructions or align itself with their policies and ideals. Thus, it can execute its work without fear of influence from external forces. The ACB is solely accountable to the member states who have the power to amend the Charter or introduce new binding treaties upon the ratification of a majority of the member states which comprise the Kiribzone.
== Purpose ==
The purpose of the ACB is to maintain price stability in the Kiribzone. It accomplishes this purpose through the following tasks:
* Deciding and implementing monetary policy,
* Overseeing the convertability of the kirib,
* Issuing kirib banknotes and coordinating the supply and issuance of coins,
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* Consulting with the central banks of member states on the supervision of the banking industry,
* Advising the member states of the Kiribzone on economic, trade and fiscal policy.
* Acting as a lender of last resort to the central banks of member states
* Acting as a banker to the [[United Nations of the Auroran Continent]]
== Governance ==
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* Deciding on the admission, expulsion or suspension of member states,
* Setting the continental overnight and repo rates
* Developing convergence criteria which states must meet before being admitted,
* Setting the foreign exchange regime of the kirib,
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=== President ===
[[File:Edith Dohaer.png|thumb|Edith Dohaer, President of the Auroran Central Bank]]
The President is the highest ranking official of the ACB. The President is elected by the BOG. This position is currently occupied by Edith Dohaer, a politician and lawyer, from Great Morstaybishlia. The President is the chief executive officer of the bank. This entails the following tasks:
* Chairing meetings of the EB,
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[[Category:Aurora]]
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