Oan Central Bank: Difference between revisions
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[[Category:The Oan Isles]]
{{Infobox organization
| name =
| native_name = Te Peeke
| native_name_lang = OAN
| abbreviation =
| motto = Let the Oan Isles remain prosperous (''Me noho pai te Moutere Oa'')
| predecessor = Treasury of the Oan Isles
| successor = [[Auroran Central Bank]] (monetary policy)
| formation = 8 January 1891
| founder =
| type = Central bank
| status = Public bank
| headquarters =
| location = [[Tokapa]], Tokamotu, [[The Oan Isles]]
| region = The Oan Isles
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| website = www.bank.gov.oan
}}
The '''
== History ==
Prior to the [[Morsto-Oan War]] (''Te Pakanga o Nga Oa me Nga Morohotu'') of 1855, all the islands and major merchant guilds issued promissory notes and tokens based on the value of precious metals such as gold and silver which they had available. The war with Morstaybishlia caused more goods and manpower to be directed to the war effort. Coupled with throttled trade, merchant guilds and island Chiefs had to issue more promissory notes and tokens than there was gold available to finance expenditure. The Oan Isles experienced hyperinflation, the worst in its history. The rapid loss of value of the currency at the time, led to the emergence of a black market that only traded in pure silver and gold.
Under
To prepare the country for future wars, the Oan government needed to raise capital and maintain price stability. It created the Bank of the Oan Isles in 1891 and transferred the monetary functions of the Treasury to the Bank. It gave the Bank the power to regulate banking institutions, act as the sole state banker and the sole issuer of legal tender in the country. This helped stabilized the national finances. The nation was also able to sell bonds at the markets in major financial centers such as [[Sani Bursil]]. The gold raised from these bonds was instrumental in preparing the country for the [[Great War]] (''Te Pakanga Rawa Rawa'').
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== Criticism ==
The
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