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Do Central Banks Need Capital? / Peter Stella.
- Format:
- Book
- Government document
- Author/Creator:
- Stella, Peter.
- Series:
- IMF Working Papers; Working Paper ; No. 1997/083
- IMF Working Papers
- Language:
- English
- Physical Description:
- 1 online resource (39 pages)
- Place of Publication:
- Washington, D.C. : International Monetary Fund, 1997.
- Language Note:
- English
- Summary:
- Central banks may operate perfectly well without capital as conventionally defined. A large negative net worth, however, is likely to compromise central bank independence and interfere with its ability to attain policy objectives. If society values an independent central bank capable of effectively implementing monetary policy, recapitalization may become essential. Proper accounting practice in determining central bank profit or loss and rules governing the transfer of the central bank’s operating result to the treasury are also important. A variety of country-specific central bank practices are reviewed to support the argument.
- Notes:
- Bibliographic Level Mode of Issuance: Monograph
- Description based on print version record.
- ISBN:
- 9786613781154
- 9781462329793
- 1462329799
- 9781452723013
- 145272301X
- 9781281600462
- 1281600466
- 9781451896671
- 1451896670
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