One country dominating the financial position of the central body, and regulate the national economy, national Ganyu an important tool for the development and Zhixing Fuze national monetary credit policy, exclusive money issued Quan, Shi Xing financial Jian Guan Deng. People's Bank of China's central bank. Referred to as the central bank.
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No. 2
Also known as the National Bank. "One country, the dominant position of the banking system, responsible for the formulation and implementation of national monetary and credit policy, the implementation of financial management and supervision of the activities of money in circulation and credit institutions as a financial center. China's central bank is the Bank of China .
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No. 3
Central Bank (central bank)
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Overview of the Central Bank
The formation of a government agency responsible for controlling the nation's money supply, credit conditions, the regulation of the financial system, particularly commercial banks and other savings institutions. A country's central bank is the highest monetary and financial management institutions, dominant position in the world's financial system. The functions of the Central Bank of macro-control, to protect the financial security and stability, and financial services. Central banks' issuance of bank ", regulating the money supply, stable currency is an important role. Central banks are the "bank of banks" which central depository bank reserves, and their loans, act as a "lender of last resort." Central Bank is a "national bank", it is makers and implementers of national monetary policy, government intervention in the economy is also a tool; while providing financial services for the state, treasury agent, agency issuing government bonds to raise funds for the government; behalf of the Government participate in international financial organizations and various international financial activities. The fundamental difference between business operations and other financial institutions are engaged in the central bank engaged in that central banks are engaged in the business is not for profit, but for the realization of national macroeconomic target service, which is located by the central bank's position and nature decision. The principal activities of the central bank are: currency, centralized reserve, loans, rediscount, securities, gold and foreign exchange accounted for money, for money to commercial banks and other financial institutions and the transfer of funds allocated liquidation business.
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Central banks generate economic background
Central Bank produced in the latter half of the 17th century, formed in the early 19th century, it generates economic context as follows: (1) the rapid development of the commodity economy in the early 18th century, Western countries began a rapid development and rapid expansion of the industrial revolution, the social productivity of the commodity economy, prompting monetary operations increasingly common and increasingly profitable, thereby producing a conduct of monetary wealth desire to control. Frequently appear (2) capitalist economic crisis of the capitalist economy will inevitably lead to their inherent contradictions continuous economic crisis. The face of prevailing conditions, the bourgeois government began looking for the monetary institutional reasons, attempts to control through the issuance of bank notes, and save frequently to avoid economic crisis. (3) bank credit generalization and centralized capitalist industrial revolution prompted an unprecedented increase productivity, improve productivity and promote a capitalist bank credit industry to flourish. One is mainly manifested in the growing banking institutions; Second, banks gradually moving towards a joint, centralized and monopolistic.
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Objective requirements arising from the Central Bank
The rapid development of capitalist commodity economy, the economic crisis occurred frequently, generalization and centralization of bank credit, both to lay the economic foundation for the generation of the central bank, but also for the generation of the central bank provides an objective requirement. (1) Government control of currency and banking wealth The rapid development of the capitalist commodity economy, the objective requires the establishment of appropriate monetary system and credit system. Bourgeois government in order to broaden the market, but also need to have the backing of a huge monetary wealth. (2) unified currency In the early development of the banking sector, almost every bank has issued bank notes powers, but with the economic development, the increase in market expansion and banking institutions, ills on the issue of bank notes scattered more and more obvious, there is an objective requirement strong force and authority of the bank to enjoy a unified issue bank notes in the country. (3) the need for centralized credit Commercial banks often lack working capital positions ineffective scheduling problems occur, which is generated from the central bank objective requirements, it can not only focus on the many bank reserve requirements, but also have rightly necessary for other commercial banks Working capital for the bank to act as lender of last resort. (4) the establishment of a clearing house bills With the continuous development of the banking sector, the bank increased the number of daily giving or receipt of bills, debtor-creditor relationship between the complexity of the banks, the banks themselves from the date of liquidation netting be difficult to have occurred. This situation generated concept requires the central bank, as the country's unity, authoritative, impartial clearing center. (5) Unified Financial Management Banking and financial market developments, the need for government to come forward to make the necessary management, which requires the government to produce under the Central Bank of the specialized agencies of the government to implement the management of the banking sector and financial markets.
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Central Bank of the nature, functions and structure
(1) the nature of the central bank can be scientifically described as: central bank is the country given its formulation and implementation of monetary policy, the national economy for special financial institutions macro control and management oversight. Central Bank of nature embodied in that it is a "special financial institution" above, specifically including the particularity of its special status, the special nature of the business and management. (2) the nature of the central bank is embodied in its functions, the central bank issued by banks, government banks, the bank's bank, the Bank of macroeconomic regulation and control four functions. (3) the structure of the central bank's structure is the central banking system, which mainly includes the capital structure of the central bank's balance sheet structure and other aspects of the power structure.
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Central bank's role in financial supervision
(1) before the 1980s, central banks in most countries is the regulation of the financial industry or banks. (2) Now, the central bank as the sole subject of financial regulation, has been unable to adapt to the new financial landscape. This is because the traditional role of banks in the financial system is being challenged, the role of financial markets in economic development, more and more, so many countries, through a separate regulatory body to monitor the growing number of non-bank financial institutions, such as the China Banking Regulatory Commission , CSRC and CIRC, etc. (3) From a practical point of view of national financial regulators, the regulatory system can be divided into four categories: separate management and separate supervision, such as France and China; separate operation rather mixed supervision, such as South Korea; Mixed and sub-sector regulation, such as the U.S. and Hong Kong; Mixed and mixed supervision, such as the UK and Japan. Whether regulatory responsibility by the central bank also has to play different scenarios: a central bank is still responsible for the overall supervision; central bank is only responsible for banking supervision; outside the central bank also has a separate new agency, specially all financial regulation.
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Central bank financial regulatory procedures and content
Complete financial regulation is a continuous loop process, which consists of market access regulation, supervision of daily operations, risk assessment, risk treatment and market exits and other related elements and aspects of the composition. (1) functional positioning mechanism called functional orientation, refers to the major role of various financial institutions in a market economy play activities, as well as the operation of space development, embodied in the agency's clients, business and service. (2) financial institutions, market access for a broad market access, including access to three agencies, business access and access to senior management. Agency access, according to the legal standard means, approved the establishment of financial institutions, corporate or its affiliates. Business access, is in accordance with prudential standards, approved business scope of financial institutions and the introduction of new categories of businesses. Access to senior management, refers to the qualifications of senior management approval and recognition. (3) operations regulatory supervision of the operations of financial institutions, mainly through external audit regulatory authorities (such as the central bank) of off-site supervision and on-site inspection, and by means of accounting (auditing) firms conducted to detect, identify , risk evaluation and correction operations of financial institutions. This is the main content of the daily supervision of the regulatory authorities, including the off-site supervision and on-site inspections. (4) a comprehensive risk assessment of the risk assessment is a comprehensive analysis of financial regulators in the off-site supervision and on-site inspection findings and the basis of information from the agency on the nature of the risks of existing regulatory bodies, characteristics, severity and trends make timely, objective and comprehensive judgment and evaluation. (5) the risk of disposal of financial supervisory authorities to take appropriate measures against the severity of the risk and the risk of different financial institutions that exist to be disposed of in a timely manner, including corrective disposal, salvage and market exit.
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The role of central banks in the payment system
(1) As a user pay system. Central banks need to own transactions to transfer funds, including the liquidation payment system through open market operations to implement monetary policy; payment clearing government bonds (including the issuance and payment). (2) As a member of the payment system. Central banks can represent their clients (such as government departments and other national central banks) payment and delivery. (3) as a payment service provider. These services include commercial bank _set_tlement accounts in the operation of the payment system; separately or together, to provide payment system hardware, software, operating procedures or communication network with other commercial banks and financial institutions. (4) as a protector of the public interest. Contents of this role include broader payment system administrators; supervisor members payment system; payment system to provide management and planning; arbitrate disputes and claims processing, provides technical standards. Also, you can as a _set_tlement guarantor.
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Central bank payment and _set_tlement services
(1) provides payment and _set_tlement account services in the practice of central banks, the central bank is generally used as the inter-bank clearing intermediaries, to provide clearing bank account, by _set_ting up and using the clearing account to achieve inter-bank transfers. (2) Operation and management of payment systems in addition to providing account services outside, another important means of central banks and organizations involved in the liquidation of the line that is between the operation and management of an important line of payment and _set_tlement systems. A stable, effective public trust payment system is an integral part of society. Central bank payment systems typically include running account system, communication networks and information processing systems. (3) provide for the difference between the private clearing system and _set_tlement services in many countries there are various forms of private _set_tlement organizations, and some private clearing and _set_tlement system is still under implementation differences, in order to achieve the liquidation of debts off_set_ between the participants, many of clearing organizations willing to use the difference between the central bank to provide clearing services, the difference between the positions of the latter transferred through accounts allocated to complete the final liquidation. (4) provide overdraft facility not only run the central bank to manage the entire payment system, but also a way to provide credit guarantee smooth operation of payment systems. Large-value payment system is the focus of the central bank to provide credit, especially when large-value payment system payment instructions processed irrevocable finality of payment instructions, the central bank's overdraft facility is more important.
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Changes in the central bank after World War II
(1) monopoly of the currency issued by the general transformation of the country. After World War II, countries have to deepen the understanding of the central bank, thus reinforcing its control. This greatly speeds up the process of nationalization of the Central Bank, thus achieving the central bank by the bank to issue general state monopoly that is the real issue to issue bank transformation. (2) conversion of the government treasury moneys received and disbursed by the agent bank to the government. With the acceleration of the process of nationalization of the Central Bank, the national central bank is responsible, banking regulations in many countries the central bank clearly defined identity as the government agency in order to achieve the transformation of the central bank to the government banks. (3) by the Central Depository reserve bank to bank conversion. Into the mid-20th century, the central bank does not compete with ordinary commercial bank interest, to exercise the functions of management and general banking institutions became the center of the financial system, which marks its conversion to a bank of banks. (4) into the general use of monetary policy to the comprehensive use. The central bank's monetary policy is inseparable from the overall goal of a country's economic development, in particular the use of the greatly strengthened and pay attention to its comprehensive features, namely the conversion of general use to the comprehensive use of the past. Financial Cooperation (5) to strengthen the national central banks. With the development of national economy and international trade in goods, in order to ensure that countries in the international balance of payments and economic stability, central banks in order to jointly resist risks, strengthen financial supervision and cooperation between each other more closely.
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The evolution of China's central bank
(1) Central Bank during the Qing government ① Ministry of banks. Ministry officials and businessmen organized by the bank is the bank late Qing Dynasty, in August 1905 opened in Beijing, it is an imitation of the Western countries and the establishment of the Central Bank of China's first central bank. ② Qing banks. In 1908, the Ministry of large banks to clear the bank. Central Bank (2) during the Revolution and the Northern Warlords Government ① Bank of China. Revolution of 1911, prompting the Qing Dynasty complex off, Qing Bank reorganized as the Bank of China. ② Bank. Bank of Communications was founded in 1908, was first established, was self-proclaimed as "purely commercial bank." But in fact, it later became the Northern government's central bank. In 1913, the Bank has made the issue of the right to equal status with the Bank of China. In 1914, the Bank changed regulations established, already has the functions of the central bank. The above two lines together as the Northern government's central bank. (3) Sun Yat-sen founded the Central Bank In August 1924, led by Sun Yat-sen founded in Guangzhou, Guangdong revolutionary government central banks. July 1926, the Nationalist government, moved to Wuhan, located in Hankou December the same year the central bank. Former central bank in Guangzhou, Guangdong Province, the restructuring of the bank. In 1928, the Central Bank of Hankou business. Central Bank (4) KMT era ① 1928 年 11 1st, Nanjing National Government _set_ up a central bank, headquartered in the time of economic and financial center of the country ─ ─ Shanghai, with offices throughout the country, the Central Bank of the statutory National Bank, the central bank to exercise responsibility. ② 1949 In December 2009, the central bank with the Nationalist government retreated to Taiwan. (5) revolutionary base of the central bank ① After the 1927 Revolution failed, after the establishment of the Communist Party in the base, _set_ up a bank of the people, the issue of currency. As the winter of 1927, Western Fujian Shanghang County District Farmers Association was founded mosquito foreign banks and other farmers. ② 1932 年 2 1 May, the Soviet State Bank was established, the Soviet State Bank also _set_ up branches all over, to drive toward centralized and unified base of the bank. ③ 1934 In October 2009, the Soviet Red Army following the transfer of the National Bank, in November 1935, it was reorganized as the Chinese Soviet Republic National Bank of the Northwest Branch. In October, the National Bank of the Northwest Branch of the restructuring of the Border Region Bank, headquartered in Yan'an. ④ With the victory of the war of liberation, the liberated areas and gradually expanding rapidly even as a whole tends to unity and stability of the financial industry. November 1948, the establishment of the People's Bank of China. (6) New China's central bank ① 1948 ~ 1978 years, the People's Bank of China. December 1, 1948, the People's Bank of China was formally established in Shijiazhuang. February 1949, the army moved into the People's Bank of China in Beijing, after the establishment of branches by the administrative center of branches and sub-branches (offices), the following sub-branches located establishment, basically forming a unified national financial system. People's Bank of China in this period, while all the focus of the national agricultural, industrial, commercial, short-term credit operations and urban and rural people savings business; Meanwhile, both the country's only legitimate issue RMB treasury and state finance agency, and management of financial administration, which the so-called "universal" central banking system. ② 1979 ~ 1983 years, the People's Bank of China. After the Third Plenary Session of the Communist Party of China, the specialized banks and other financial institutions have to restore and build on the past "universal" banking system has improved. But fundamentally, there is no substantive progress in the central bank's independence, the macro-control ability and rectitude and so on. Meanwhile, along with the restoration and the establishment of the specialized banks, "rudderless" problems are solved. ③ 1984 ~ 1998 years, the People's Bank of China. September 1983, the People's Bank of China State Council decided to specifically exercise the functions of the central bank, no credit and savings industry and commerce and to do business, specializing in leadership and management of the country's financial industry. January 1, 1984, Industrial and Commercial Bank of China, separated from the People's Bank of China out of the formal establishment of the People's Bank of China dedicated to exercise the functions of the central bank. ④ 1998 after the People's Bank of China. Beginning of October 1998, the People's Bank of China and its branches in the country carried out the reorganization, the revocation of the provincial branch of People's Bank of China, the country _set_ up nine provinces, autonomous regions and municipalities directly under the branch level, focus on strengthening the area of financial supervision and management industry. A central bank for the leadership to commercial banks as the main body, a variety of financial institutions coexist, division of labor financial system with Chinese characteristics has been formed.
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The world's major central banks
Asia People's Bank of China (People's Republic of China) Hong Kong Monetary Authority (SAR People's Republic of China, the central bank to exercise some of the functions, in addition to 10 yuan banknotes issued by it is responsible, the issuing authority by HSBC, Standard Chartered Bank and Bank of China is responsible) Bank of Mongolia (Mongolia) Bank of Korea (South Korea) Bank of Japan (boj) Europe European Central Bank (ecb) Bank of England (boe) Swiss central bank (snb) America U.S. Federal Reserve Board (frb) Canadian Central Bank (boc)
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Central Bank of the nature, functions and structure
(1) the nature of the central bank can be scientifically described as: central bank is the country given its formulation and implementation of monetary policy, the national economy for special financial institutions macro control and management oversight. Central Bank of nature embodied in that it is a "special financial institution" above, specifically including the particularity of its special status, the special nature of the business and management. (2) the nature of the central bank is embodied in its functions, the central bank issued by banks, government banks, the bank's bank, the Bank of macroeconomic regulation and control four functions. Central banks are issued by banks. It is a monopoly right to issue currency, cash is the only issuer. The central bank is a bank. The functions of the central bank can best embody the special nature of financial institutions. For "deposit, put sink", the content is still the main business of the Central Bank, but the object is not an ordinary business enterprises and individuals, but the commercial banks and other financial institutions. As a financial management institutions that function specifically in the centralized reserve, lender of last resort, three clearing organizations nationwide. Central Bank is the bank of the country. This function is mainly manifested in the following aspects: Acting Treasury; agency issuing state bonds; give credit support to countries; custody of foreign exchange and gold preparations; formulate and supervise entertain on financial management regulations. In addition, the Central Bank also participated in international financial organizations on behalf of the government, to attend various international conferences, in international financial activities and international financial agreements signed on behalf of the government; in domestic and international economic and financial activities, acting as the government's advisor, providing economic, financial intelligence and decision-making recommendations. (3) the structure of the central bank's structure is the central banking system, which mainly includes the capital structure of the central bank's balance sheet structure and other aspects of the power structure.
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世界主要的中央银行
Swiss Central Bank (SNB)
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Wikipedia Encyclopedia
Zhongyang Yinhang Central bank Government of the Republic of China, one of the four national bureaucratic capital banks. October 1928, the national government announced the "Central Bank Ordinance," was officially established on November 1, the capital of 20 million yuan of financial bonds shall charge. Extraordinary Minister of Finance TV Soong served as president, vice president Chen row. Headquartered in Shanghai, with offices in provinces and cities nationwide. It has issued notes, treasury agent, handling debt, management of foreign exchange and gold and other privileges, the banking sector in the country formed a monopoly advantage. April 1933, resigned as president of Soong by Kung took over. Treasury Board was established in January of the following year; April utilize capital of $ 100 million bond issue. 1935 promulgated the "Central Bank Law", and the addition of one vice president, vice president, Jane Ren Zhangjia □ (not assumed). In August the creation of the Central Trust of China, OHCHR purchase materials, savings, insurance and other services, in November the implementation of "legal tender" policy, the Bank approved to issue legal tender. By 1937, the central bank has branches throughout the country reached forty-seven. War broke out, the bank first moved to Nanjing, Wuhan, after the August 1938 moved to Chongqing. October 1939 was appointed Acting treasury, treasury and administered by the right grip. July 1942, the bank was ordered to receive China, transportation, agriculture banknotes and reserve three lines, and focus the issue of legal tender of the handle, all foreign exchange and gold are concentrated in the central bank. Wartime local branches of one hundred and ten ten place. July 1945, Kung resign by Yu Hongjun, president took over. After the war, the headquarters moved back to Shanghai. February 1946, Yu Hongjun resign from Bezu yi took over president. After the war all over the branches have ninety place. Between 1946 and 1949 from three years, the bank unlimited junk notes, to August 1948 issue of legal tender up to six hundred sixty-three trillion yuan; until May 1949 issue of Chin over 67.9 trillion yuan For operations, transfer of funds, foreign exchange co-ordination, management and transfers of financial markets, the bank were overwhelmed, and a serious decline. Following Bezu president has Chia Yi □, Yu Hongjun, Liu Yun et al attack. After the founding of People's Republic of China, by the head office and branches throughout the government to take over, the liquidation. (Bear still thick)
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English Expression
: national bank that does business with the Government and other banks, and issues currency, Central Bank