Banking in Packilvania
Central Bank
The Packilvanian Central Bank is the central bank of Packilvania. It is the banker to the government and the lender of last resort. It issues the national currency, the Packilvanian dinar, and controls monetary policy. It is owned entirely by the Government of Packilvania through the Department of Finance (also known as the Imperial Treasury). The incumbent governor of the bank is Lord Mudeen a-Henad Zubeer, the Earl of Parhoud. The bank is independent from the government and is run by its board.
Regulatory bodies
The Packilvanian Central Bank (PCB) is responsible for issuing banking regulations in the country. This entails prescribing governance, liquidity requirements, financing requirements and operational requirements as well as foreign exchange and capital controls. The Imperial Revenue Services (IRS) sets out the tax requirements for the banking sector in line with tax legislation. Financial Services Regulatory Board (FSRB) regulates other financial services but it also issues regulations with regard to investments both by banks and through banks on behalf of their clients.
List of banks in Packilvania
The four largest banks in the country (referred to as the Big Four) make up over ⅔ of the banking in the country in terms of transactions, assets under management, clients and lending:
- Industrial and Commercial Bank of Packilvania (ICBP) is the largest bank in the country. It provides commercial banking services to businesses and people.
- Agricultural Bank of Packilvania (ABP) provides banking services to farming and associated industries.
- Export-Import Bank of Packilvania (EXIMBP) provides banking services to organisations and persons that import and export goods and services to and from Packilvania.
- Packilvanian Development Bank (PDB) provides financing and banking services for infrastructure and property development projects to Packilvanian and foreign organisations and persons.