Kirib: Difference between revisions

==Governance ==

{{Main|Auroran Central Bank}}

The kirib was formally issued by the Bank of Staynes and was established in terms of Morstaybishlian law. Other countries came to use it through bilateral treaties with Great Morstaybishlia. As the number of users grew, the currency was restructured and placed under international law through the adoption of multilateral treaties by participating nations. Now, the kirib is an international currency that is given legal effect in member states by the governments which rule them. In this process, member states comprise the Kirib Monetary Union (known colloquially as the Kiribzone) which is independent of the geopolitical organisations of the Auroran continent. The central bank of the Kiribzone is the [[Auroran Central Bank]] (abbreviated ACB). The ACB has assumed many of the functions that were undertaken by the Bank of Staynes and the central banks of participating states. It is responsible for regulating the supply, distribution, issuance, stability and exchangeability of the kirib. Member states retain authority over banking regulation, acting as the sole bankers to member states' governments, acting as the lenders of last resort in member states' financial systems and advising their governments of financial policies.