Auroran Central Bank: Difference between revisions

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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 required to ratify the document to bring legal effect to its provisions on that themselves. Moreover, the directives, policies and actions of the bank must comply with the charter. The Charter states that the bank must be neutral in the political affairs of the continent.

 

The purpose of the ACB is to maintain price stability in the Kiribzone. It accomplishes this purpose through the following tasks:

 

* Overseeing the convertability of the kirib,

* Issuing kirib banknotes and coordinating the supply and issuance of coins,

* 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.

 

== Governance ==

 

* Deciding on the admission, expulsion or suspension of member states,

* Developing convergence criteria which states must meet before being admitted,

* Setting the foreign exchange regime of the kirib,

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| Governor Natela Grvzidze

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|[[File:Yellow Lily Flag 5.png|25px]] [[Blueacia]]

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|Governor Oda Loftmann

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|[[File:EmberwoodCoastFlag.jpg|25px]] [[Emberwood Coast]]

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|[[File:Faethalria.png|25px]] [[Faethalria]]

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|[[File:New MBE Flag.png|25px]] [[Great Morstaybishlia]]

|Bank of Staynes

|Governor Pevence Morsmar

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|[[File:Future Ethalrian Flag.png|25px]] [[North Ethalrian Confederacy]]

|Bank of North Ethalria

|Governor Hanna Arimach

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|[[File:Nolovaflag.png|25px]] [[Nolova]]

| Bank of Nolova

| Chancellor Iakob Malikhani

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|[[File:Flag of the Oan Isles.png|25px]] [[The Oan Isles|Oan Isles]]

|[[Bank of the Oan Isles]]

|Governor Pauro Toangakau

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|[[File:Sarentria flag.png|25px]] [[Sarentria]]

|Bank of Sarentria

|Governor Frauke Pabst

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|[[File:Tivotflag.png|25px]] [[Tivot]]

| Tivot Central Financiary

| Chief Financier Avtandil Giorgadze

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|[[File:Tuvaltflag.png|25px]] [[Tuvaltastan]]

| Grand Bank of Tuvaltastan

| Chancellor Zurab Zurashvili

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[[Category:Aurora]]