United States

From Wikipedia, the free encyclopedia

For other uses, see US (disambiguation), USA (disambiguation), and United States
(disambiguation).
United States of America
Flag Great Seal
Motto:
!n God "e trust (official)
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( pluribus unum ()atin) (traditional)
*ut of many, one
Anthem: +he Star,Spangled -anner
.enu
/0//
Capital
Washington, 1.2.
'345'67 884/$6W
Largest city
7e" 9ork 2ity
:/4:'67 8:4//6W
Official languages 7one at federal le;el
#a%

National language (nglish
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Demonym American
Government
Federal presidential constitutional
republic
, <resident -arack *bama (1)
, =ice <resident >oe -iden (1)
, Speaker of the ?ouse >ohn -oehner (@)
, 2hief >ustice >ohn @oberts
Legislature 2ongress
, Upper house Senate
, )o"er house ?ouse of @epresentati;es
ndependence from Great -ritain
, 1eclared >uly :, $88A
, @ecogniBed September ', $83'
, 2onstitution >une &$, $833
Area
, +otal
C,3&A,A85 km
&
#:%#c%
('rdD:th)
',8C:,$/$ sE mi
, Water (F) A.8A
!opulation
, &/$' estimate '$8,8C$,///
#5%
('rd)
, 1ensity
':.&Dkm
&
($3/th)
33.ADsE mi
GD! (<<<) &/$: estimate
, +otal G$8.:'3 trillion
#A%
($st)
, <er capita G5:,A/C
#A%
(8th)
GD! (nominal) &/$: estimate
, +otal G$8.:'3 trillion
#A%
($st)
, <er capita G5:,A/C
#A%
(3th)
Gini (&/$$)
:8.8
#8%
high " 'Cth (&//C)
#D (&/$')
/.C'8
#3%
;ery high " 'rd
Currency United States dollar (G) (USD)
$ime %one (U+2H5 to H$/)
, Summer (1S+) (U+2H: to H$/
#e%
)
Drives on the right
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Calling code I$
SO &'(( code US
nternet $LD .us .go; .mil .edu
a.
) (nglish is the official language of at least &3 statesJ some sources gi;e higher
figures, based on differing definitions of official.
#C%
(nglish and ?a"aiian are
both official languages in the state of ?a"aii.
b.
) (nglish is the de facto language of American go;ernment and the sole language
spoken at home by 3/ percent of Americans aged fi;e and older. Spanish is the
second most commonly spoken language.
c.
) Whether the United States or 2hina is larger has been disputed. +he figure
gi;en is from the U.S. 2entral !ntelligence AgencyKs The World Factbook. *ther
sources gi;e smaller figures. All authoritati;e calculations of the countryKs siBe
include only the 5/ states and the 1istrict of 2olumbia, not the territories.
d.
) +he population estimate is of people "hose usual residence is "ithin the 5/
states and the 1istrict of 2olumbia, regardless of nationality. !t does not include
those li;ing in the territories (o;er : million people, mostly in <uerto @ico).
e.
) See +ime in the United States for details about la"s go;erning time Bones in the
United States.
f.
) 1oes not include insular areas and United States .inor *utlying !slands, "hich
ha;e their o"n !S* '$AA codes.
g.
) (Lcept U.S. =irgin !slands.
+he United States of America (USA)Mcommonly referred to as the United States (U*S*),
America or simply the StatesMis a federal republic
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consisting of 5/ states and a federal
district. +he :3 contiguous states and the federal district of Washington, 1.2., are in central
7orth America bet"een 2anada and .eLico. +he state of Alaska is the north"estern part of
7orth America and the state of ?a"aii is an archipelago in the mid,<acific. +he country also has
fi;e populated and nine unpopulated territories in the <acific and the 2aribbean. At '.8C million
sEuare miles (C.3' million km
&
) in total and "ith around '$8 million people, the United States is
the fourth,largest country by total area and third largest by population. !t is one of the "orldKs
most ethnically di;erse and multicultural nations, the product of large,scale immigration from
many countries.
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+he geography and climate of the United States is also eLtremely di;erse, and
it is home to a "ide ;ariety of "ildlife.
<aleo,indians migrated from Asia to "hat is no" the U.S. mainland around $5,/// years ago,
#$'%

"ith (uropean coloniBation beginning in the $Ath century. +he United States emerged from $'
-ritish colonies located along the Atlantic seaboard. 1isputes bet"een Great -ritain and these
colonies led to the American @e;olution. *n >uly :, $88A, delegates from the $' colonies
unanimously issued the 1eclaration of !ndependence. +he ensuing "ar ended in $83' "ith the
recognition of independence of the United States from the Ningdom of Great -ritain, and "as
the first successful "ar of independence against a (uropean colonial empire.
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+he current
2onstitution "as adopted on September $8, $838. +he first $/ amendments, collecti;ely named
the -ill of @ights, "ere ratified in $8C$ and guarantee many fundamental ci;il rights and
freedoms.
1ri;en by the doctrine of manifest destiny, the United States embarked on a ;igorous eLpansion
across 7orth America throughout the $Cth century.
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+his in;ol;ed displacing nati;e tribes,
acEuiring ne" territories, and gradually admitting ne" states.
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+he American 2i;il War ended
legal sla;ery in the country.
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-y the end of the $Cth century, the United States eLtended into the
<acific *cean,
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and its economy "as the "orldKs largest.
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+he SpanishOAmerican War and
World War ! confirmed the countryKs status as a global military po"er. +he United States
emerged from World War !! as a global superpo"er, the first country "ith nuclear "eapons, and
a permanent member of the United 7ations Security 2ouncil. +he end of the 2old War and the
dissolution of the So;iet Union left the United States as the sole superpo"er.
+he United States is a de;eloped country and has the "orldKs largest national economy, "ith an
estimated G1< in &/$' of G$A.8 trillionM&'F of global nominal G1< and $CF at purchasing,
po"er parity.
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+he economy is fueled by an abundance of natural resources and the "orldKs
highest "orker producti;ity,
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"ith per capita G1< being the "orldKs siLth,highest in &/$/.
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While the U.S. economy is considered post,industrial, it continues to be one of the "orldKs
largest manufacturers.
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+he U.S. has the highest mean and second,highest median household
income in the *(21 as "ell as the highest a;erage "age,
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though it has the fourth most
uneEual income distribution among *(21 nations
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"ith roughly $AF of the population
li;ing in po;erty.
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+he country accounts for 'CF of global military spending,
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being the
"orldKs foremost economic and military po"er, a prominent political and cultural force, and a
leader in scientific research and technological inno;ation.
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Contents
$ (tymology
& ?istory
o &.$ 7ati;e American and (uropean contact
o &.& Settlements
o &.' !ndependence and eLpansion
o &.: 2i;il War and @econstruction (ra
o &.5 !ndustrialiBation
o &.A World War !, Great 1epression, and World War !!
o &.8 2old War and 2i;il @ights era
o &.3 2ontemporary history
' Geography, climate, and en;ironment
: 1emographics
o :.$ <opulation
o :.& )anguage
o :.' @eligion
o :.: Family structure
5 Go;ernment and politics
o 5.$ <olitical di;isions
o 5.& <arties and elections
o 5.' Foreign relations
o 5.: Go;ernment finance
5.:.$ <ublic debt
A .ilitary
8 2rime and la" enforcement
3 (conomy
o 3.$ !ncome, po;erty and "ealth
C !nfrastructure
o C.$ +ransportation
o C.& (nergy
$/ Science and technology
$$ (ducation
$& ?ealth
$' 2ulture
o $'.$ <opular media
o $'.& )iterature, philosophy, and the arts
o $'.' Food
o $'.: Sports
$: See also
$5 @eferences
$A -ibliography
o $A.$ Website sources
$8 (Lternal links
+tymology
See also0 7ames for United States citiBens
!n $5/8, the German cartographer .artin WaldseemPller produced a "orld map on "hich he
named the lands of the Western ?emisphere America after the !talian eLplorer and
cartographer Amerigo =espucci ()atin0 Americus Vespucius).
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+he first documentary e;idence
of the phrase United States of America is from a letter dated >anuary &, $88A, "ritten by
Stephen .oylan, (sE., George WashingtonKs aide,de,camp and .uster,.aster General of the
2ontinental Army. Addressed to )t. 2ol. >oseph @eed, .oylan eLpressed his "ish to carry the
full and ample po"ers of the United States of America to Spain to assist in the re;olutionary
"ar effort.
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+he first publicly published e;idence of the phrase United States of America "as in an
anonymously "ritten essay in The Virginia Gazette ne"spaper in Williamsburg, =irginia, on
April A, $88A.
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!n >une $88A, +homas >efferson included the phrase U7!+(1 S+A+(S *F
A.(@!2A in all capitaliBed letters in the headline of his original @ough draught of the
1eclaration of !ndependence.
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!n the final Fourth of >uly ;ersion of the 1eclaration, the
pertinent section of the title "as changed to read, +he unanimous 1eclaration of the thirteen
united States of America.
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!n $888 the Articles of 2onfederation announced, +he Stile of this
2onfederacy shall be K+he United States of AmericaK.
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+he short form United States is also standard. *ther common forms include the U.S., the
USA, and America. 2olloEuial names include the U.S. of A. and, internationally, the
States. 2olumbia, a name popular in poetry and songs of the late $8//s,
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deri;es its origin
from 2hristopher 2olumbusJ it appears in the name 1istrict of 2olumbia. !n non,(nglish
languages, the name is freEuently translated as the translation of either the United States or
United States of America, and colloEuially as America. !n addition, an acronym is
sometimes used.
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+he phrase United States "as originally treated as plural, a description of a collection of
independent statesMe.g., the United States areMincluding in the +hirteenth Amendment to the
United States 2onstitution, ratified in $3A5. !t became common to treat it as singular, a single
unitMe.g., the United States isMafter the end of the 2i;il War. +he singular form is no"
standardJ the plural form is retained in the idiom these United States.
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+he difference has
been described as more significant than one of usage, but reflecting the difference bet"een a
collection of states and a unit.
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+he standard "ay to refer to a citiBen of the United States is as an American. United States,
American and U.S. are used to refer to the country adQecti;ally (American ;alues,
U.S. forces). American is rarely used in (nglish to refer to subQects not connected "ith the
United States.
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#istory
.ain articles0 ?istory of the United States and +imeline of United States history
Native American and +uropean contact
Further information0 <re,2olumbian era and 2olonial history of the United States
.eeting of 7ati;e Americans and (uropeans, $8A:
<eople from Asia migrated to the 7orth American continent approLimately $5,/// or more years
ago.
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Some, such as the pre,2olumbian .ississippian culture, de;eloped ad;anced
agriculture, grand architecture, and state,le;el societies. After (uropean eLplorers and traders
made the first contacts, it is thought that their population declined due to ;arious reasons,
including diseases such as smallpoL and measles,
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intermarriage,
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and ;iolence.
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!n the early days of coloniBation many settlers "ere subQect to shortages of food, disease and
attacks from 7ati;e Americans. 7ati;e Americans "ere also often at "ar "ith neighboring tribes
and allied "ith (uropeans in their colonial "ars.
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At the same time ho"e;er many nati;es and
settlers came to depend on each other. Settlers traded for food and animal pelts, nati;es for guns,
ammunition and other (uropean "ares.
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7ati;es taught many settlers "here, "hen and ho" to
culti;ate corn, beans and sEuash in the frontier. (uropean missionaries and others felt it "as
important to ci;iliBe the !ndians and urged them to concentrate on farming and ranching
"ithout depending on hunting and gathering.
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Settlements
Further information0 (uropean coloniBation of the Americas and $' colonies
After 2olumbusK first ;oyage to the 7e" World in $:C& other eLplorers and settlement follo"ed
into the Floridas and the American South"est.
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+here "ere also some French attempts to
coloniBe the east coast, and later more successful settlements along the .ississippi @i;er.
Successful (nglish settlement on the eastern coast of 7orth America began "ith the =irginia
2olony in $A/8 at >amesto"n and the <ilgrimsK <lymouth 2olony in $A&/. (arly eLperiments in
communal li;ing failed until the introduction of pri;ate farm holdings.
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+he continentKs first
elected legislati;e assembly, =irginiaKs ?ouse of -urgesses created in $A$C, and the .ayflo"er
2ompact, signed by the <ilgrims before disembarking, established precedents for the pattern of
representati;e self,go;ernment and constitutionalism that "ould de;elop throughout the
American colonies.
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+he signing of the .ayflo"er 2ompact, $A&/
.ost settlers in e;ery colony "ere small farmers, but other industries de;eloped. 2ash crops
included tobacco, rice and "heat. (Ltraction industries gre" up in furs, fishing and lumber.
.anufacturers produced rum and ships and by the late colonial period Americans "ere
producing one,se;enth of the "orldKs iron supply.
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2ities e;entually dotted the coast to support
local economies and ser;e as trade hubs. (nglish colonists "ere supplemented by "a;es of
Scotch,!rish and other groups. As coastal land gre" more eLpensi;e freed indentured ser;ants
pushed further "est.
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Sla;e culti;ation of cash crops began "ith the Spanish in the $5//s, and
"as adopted by the (nglish, but life eLpectancy "as much higher in 7orth America because of
less disease and better food and treatment, so the numbers of sla;es gre" rapidly.
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2olonial society "as largely di;ided o;er the religious and moral implications of sla;ery and
colonies passed acts for and against the practice.
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-ut by the turn of the $3th century, African
sla;es "ere replacing indentured ser;ants for cash crop labor, especially in southern regions.
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With the $8'& coloniBation of Georgia, the $' colonies that "ould become the United States of
America "ere established.
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All had local go;ernments "ith elections open to most free men,
"ith a gro"ing de;otion to the ancient rights of (nglishmen and a sense of self,go;ernment
stimulating support for republicanism.
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With eLtremely high birth rates, lo" death rates, and
steady settlement, the colonial population gre" rapidly. @elati;ely small 7ati;e American
populations "ere eclipsed.
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+he 2hristian re;i;alist mo;ement of the $8'/s and $8:/s kno"n
as the Great A"akening fueled interest in both religion and religious liberty.
!n the French and !ndian War, -ritish forces seiBed 2anada from the French, but the francophone
population remained politically isolated from the southern colonies. (Lcluding the 7ati;e
Americans, "ho "ere being conEuered and displaced, those $' colonies had a population of o;er
&.$ million in $88/, about one,third that of -ritain. 1espite continuing ne" arri;als, the rate of
natural increase "as such that by the $88/s only a small minority of Americans had been born
o;erseas.
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+he coloniesK distance from -ritain had allo"ed the de;elopment of self,
go;ernment, but their success moti;ated monarchs to periodically seek to reassert @oyal
authority.
ndependence and e,pansion
+he Declaration of Independence0 the 2ommittee of Fi;e presenting their draft to the Second
2ontinental 2ongress in $88A.
Further information0 American @e;olutionary War, 1eclaration of !ndependence, and American
@e;olution
+he American @e;olution "as the first successful colonial "ar of independence against a
(uropean po"er. Americans had de;eloped an ideology of republicanism that held go;ernment
rested on the "ill of the people as eLpressed in their local legislatures. +hey demanded their
rights as (nglishmen, Rno taLation "ithout representationS. +he -ritish insisted on administering
the empire through <arliament, and the conflict escalated into the American @e;olutionary War.
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+he 2ongress adopted the 1eclaration of !ndependence, on >uly :, $88A, proclaiming that
humanity is created eEual in their inalienable rights. +hat date is no" celebrated annually as
AmericaKs !ndependence 1ay. !n $888, the Articles of 2onfederation established a "eak
go;ernment that operated until $83C.
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-ritain recogniBed the independence of the United States follo"ing their defeat at 9orkto"n.
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!n the peace treaty of $83', American so;ereignty "as recogniBed from the Atlantic coast "est
to the .ississippi @i;er. 7ationalists led the <hiladelphia 2on;ention of $838 in "riting the
United States 2onstitution, and it "as ratified in state con;entions in $833. +he federal
go;ernment "as reorganiBed into three branches for their checks and balances in $83C. +he -ill
of @ights, forbidding federal restriction of personal freedoms and guaranteeing a range of legal
protections, "as adopted in $8C$.
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Although the federal go;ernment criminaliBed the international sla;e trade in $3/3, after $3&/
culti;ation of the highly profitable cotton crop eLploded in the 1eep South, and along "ith it the
sla;e population.
#8C%#3/%#3$%
+he Second Great A"akening, beginning about $3//, con;erted
millions to e;angelical <rotestantism. !n the 7orth it energiBed multiple social reform
mo;ements, including abolitionism,
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in the South, .ethodists and -aptists proselytiBed among
sla;e populations.
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AmericansK eagerness to eLpand "est"ard prompted a long series of !ndian Wars.
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+he
)ouisiana <urchase of French,claimed territory in $3/' almost doubled the nationKs siBe.
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+he
War of $3$&, declared against -ritain o;er ;arious grie;ances and fought to a dra", strengthened
U.S. nationalism.
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A series of U.S. military incursions into Florida led Spain to cede it and
other Gulf 2oast territory in $3$C.
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(Lpansion "as aided by steam po"er, "hen steamboats
began tra;eling along AmericaKs large "ater systems, "hich "ere connected by ne" canals, such
as the (rie and the !T.J then, e;en faster railroads began their stretch across the nationKs land.
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U.S. territorial acEuisitionsOportions of each territory "ere granted statehood o;er time
From $3&/ to $35/, >acksonian democracy began a set of reforms "hich included "ider male
suffrage, and it led to the rise of the Second <arty System of 1emocrats and Whigs as the
dominant parties from $3&3 to $35:. +he +rail of +ears in the $3'/s eLemplified the !ndian
remo;al policy that mo;ed !ndians into the "est to their o"n reser;ations. +he U.S. anneLed the
@epublic of +eLas in $3:5 during a period of eLpansionist .anifest 1estiny.
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+he $3:A *regon
+reaty "ith -ritain led to U.S. control of the present,day American 7orth"est.
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=ictory in the
.eLican,American War resulted in the $3:3 .eLican 2ession of 2alifornia and much of the
present,day American South"est.
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+he 2alifornia Gold @ush of $3:3O:C spurred "estern migration and the creation of additional
"estern states.
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After the American 2i;il War, ne" transcontinental rail"ays made relocation
easier for settlers, eLpanded internal trade and increased conflicts "ith 7ati;e Americans.
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*;er a half,century, the loss of the buffalo "as an eListential blo" to many <lains !ndians
cultures.
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!n $3AC, a ne" <eace <olicy sought to protect 7ati;e,Americans from abuses, a;oid
further "arfare, and secure their e;entual U.S. citiBenship.
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Civil -ar and .econstruction +ra
Further information0 American 2i;il War and @econstruction (ra
-attle of Gettysburg, <ennsyl;ania during the 2i;il War
From the beginning of the United States, inherent di;isions o;er sla;ery bet"een the 7orth and
the South in American society ultimately led to the American 2i;il War.
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!nitially states
entering the Union alternated sla;e and free, keeping a sectional balance in the Senate, "hile free
states outstripped sla;e states in population and in the ?ouse of @epresentati;es. -ut "ith
additional "estern territory and more free,soil states, tensions bet"een sla;e and free states
mounted "ith arguments o;er federalism and disposition of the territories, "hether and ho" to
eLpand or restrict sla;ery.
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Follo"ing the $3A/ election of Abraham )incoln, the first president from the largely anti,sla;ery
@epublican <arty, con;entions in thirteen states ultimately declared secession and formed the
2onfederate States of America, "hile the U.S. federal go;ernment maintained secession "as
illegal.
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+he ensuing "ar "as at first for Union, then after $3A' as casualties mounted and
)incoln deli;ered his (mancipation <roclamation, a second "ar aim became abolition of sla;ery.
+he "ar remains the deadliest military conflict in American history, resulting in the deaths of
approLimately A&/,/// soldiers as "ell as many ci;ilians.
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Follo"ing the Union ;ictory in $3A5, three amendments to the U.S. 2onstitution prohibited
sla;ery, made the nearly four million African Americans "ho had been sla;es
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U.S. citiBens,
and promised them ;oting rights. +he "ar and its resolution led to a substantial increase in
federal po"er
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aimed at reintegrating and rebuilding the Southern states "hile ensuring the
rights of the ne"ly freed sla;es.
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-ut follo"ing the @econstruction (ra, throughout the South
>im 2ro" la"s soon effecti;ely disenfranchised most blacks and some poor "hites. *;er the
subseEuent decades, in both the north and south blacks and some "hites faced systemic
discrimination, including racial segregation and occasional ;igilante ;iolence, sparking national
mo;ements against these abuses.
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ndustriali%ation
Further information0 )abor history of the United States
(llis !sland, in 7e" 9ork 2ity, "as a maQor immigrant gate"ay.
!n the 7orth, urbaniBation and an unprecedented influL of immigrants from Southern and (astern
(urope supplied a surplus of labor for the countryKs industrialiBation and transformed its culture.
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7ational infrastructure including telegraph and transcontinental railroads spurred economic
gro"th and greater settlement and de;elopment of the American *ld West. +he later in;ention
of electric lights and telephones "ould also impact communication and urban life.
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+he end of
the !ndian Wars further eLpanded acreage under mechanical culti;ation, increasing surpluses for
international markets. .ainland eLpansion "as completed by the Alaska <urchase from @ussia
in $3A8. !n $3C3 the U.S. entered the "orld stage "ith important sugar production and strategic
facilities acEuired in ?a"aii. <uerto @ico, Guam, and the <hilippines "ere ceded by Spain in the
same year, follo"ing the Spanish American War.
@apid economic de;elopment at the end of the $Cth century produced many prominent
industrialists, and the U.S. economy became the "orldKs largest. 1ramatic changes "ere
accompanied by social unrest and the rise of populist, socialist, and anarchist mo;ements.
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+his period e;entually ended "ith the beginning of the <rogressi;e (ra, "hich sa" significant
reforms in many societal areas, including "omenKs suffrage, alcohol prohibition, regulation of
consumer goods, greater antitrust measures to ensure competition, and attention to "orker
conditions.
-orld -ar / Great Depression/ and -orld -ar
Further information0 World War !, Great 1epression, and World War !!
U.S. troops approaching *maha -each during World War !!
+he United States remained neutral at the outbreak of World War ! in $C$:, though by $C$8, it
Qoined the Allies, helping to turn the tide against the 2entral <o"ers. <resident Woodro" Wilson
took a leading diplomatic role at the <aris <eace 2onference of $C$C and ad;ocated strongly for
the U.S. to Qoin the )eague of 7ations. ?o"e;er, the Senate refused to appro;e this, and did not
ratify the +reaty of =ersailles that established the )eague of 7ations.
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!n $C&/, the "omenKs rights mo;ement "on passage of a constitutional amendment granting
"omenKs suffrage.
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+he $C&/s and $C'/s sa" the rise of radio for mass communication and the
in;ention of early tele;ision.
#$/8%
+he prosperity of the @oaring +"enties ended "ith the Wall
Street 2rash of $C&C and the onset of the Great 1epression. After his election as president in
$C'&, Franklin 1. @oose;elt responded "ith the 7e" 1eal, "hich included the establishment of
the Social Security system.
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+he 1ust -o"l of the mid,$C'/s impo;erished many farming
communities and spurred a ne" "a;e of "estern migration.
+he United States "as at first effecti;ely neutral during World War !!Ks early stages but began
supplying material to the Allies in .arch $C:$ through the )end,)ease program. *n 1ecember
8, $C:$, the (mpire of >apan launched a surprise attack on <earl ?arbor, prompting the United
States to Qoin the Allies against the ALis po"ers.
#$/C%
+hough the nation lost more than ://,///
soldiers,
#$$/%
it emerged from the "ar "ith e;en greater economic and military influence.
#$$$%

Allied conferences at -retton Woods and 9alta outlined a ne" system of international
organiBations that placed the United States and So;iet Union at the center of "orld affairs. As an
Allied ;ictory "as "on in (urope, a $C:5 international conference held in San Francisco
produced the United 7ations 2harter, "hich became acti;e after the "ar.
#$$&%
+he United States
de;eloped the first nuclear "eapons and used them on >apanJ the >apanese surrendered on
September &, ending World War !!.
#$$'%
Cold -ar and Civil .ights era
.ain articles0 ?istory of the United States ($C:5OA:), ?istory of the United States ($CA:O3/),
and ?istory of the United States ($C3/OC$)
US <resident @onald @eagan (left) and So;iet General Secretary .ikhail Gorbache;, meeting in
Gene;a in $C35.
After World War !! the United States and the So;iet Union Qockeyed for po"er during "hat is
kno"n as the 2old War, dri;en by an ideological di;ide bet"een capitalism and communism.
+hey dominated the military affairs of (urope, "ith the US and its 7A+* allies on one side and
the USS@ and its Warsa" <act allies on the other. +he US de;eloped a policy of containment
to"ard So;iet bloc eLpansion. While they engaged in proLy "ars and de;eloped po"erful
nuclear arsenals, the t"o countries a;oided direct military conflict. +he U.S. often opposed +hird
World left,"ing mo;ements that it ;ie"ed as So;iet,sponsored. American troops fought
2ommunist 2hinese and 7orth Norean forces in the Norean War of $C5/O5'.
At home, the US eLperienced sustained economic eLpansion and a rapid gro"th of its population
and middle class. 2onstruction of an interstate high"ay system transformed the nationUs
infrastructure o;er the follo"ing decades. .illions mo;ed from farms and inner cities to large
suburban housing de;elopments.
#$$:%#$$5%
+he So;iet UnionKs $C58 launch of the first artificial
satellite and its $CA$ launch of the first manned spaceflight initiated a Space @ace in "hich the
United States became the first to land a man on the moon in $CAC.
#$$A%
A gro"ing 2i;il @ights
mo;ement used non;iolence to confront segregation and discrimination, "ith .artin )uther
Ning >r. becoming a prominent leader and figurehead. A combination of court decisions and
legislation, culminating in the 2i;il @ights Act of $CA:, sought to end racial discrimination.
#$$8%
#$$3%#$$C%
A proLy "ar "as eLpanded in Southeast Asia "ith the =ietnam War. .ean"hile, a
counterculture mo;ement gre" "hich "as fueled by opposition to the "ar, black nationalism,
and the seLual re;olution. +he launch of a War on <o;erty eLpanded entitlement and "elfare
spending.
#$&/%
+he $C8/s and early $C3/s sa" the onset of stagflation. After his election in $C3/, <resident
@onald @eagan responded to economic stagnation "ith free market oriented reforms, and
transitioned from a foreign policy of containment of So;iet influence to a more aggressi;e
rollback strategy.
#$&$%#$&&%#$&'%#$&:%#$&5%
After a surge in female labor participation o;er the pre;ious
decade, by $C35 a maQority of "omen age $A and o;er "ere employed.
#$&A%
+he late $C3/s
brought a tha" in relations "ith the USS@, and its collapse in $CC$ finally ended the 2old
War.
#$&8%#$&3%#$&C%#$'/%
United 0ingdom
From Wikipedia, the free encyclopedia
+his article is about the so;ereign state. For the island, see Great -ritain. For other uses, see
United Ningdom (disambiguation) and UN (disambiguation).
United 0ingdom of Great 1ritain and
Northern reland
Flag @oyal coat of arms
#nb $%

Anthem: God Sa;e the Vueen
#$%#nb &%
.enu
/0//
)ocation of the United Ningdom (dark green)
O in (urope (green T dark grey)
O in the (uropean Union (green)
Capital
and largest city
)ondon
5$4'/67 /486W
Official languages (nglish
#&%

#'%

@ecognised
regional languages
Scots, Ulster,Scots, Welsh, 2ornish,
!rish, Scottish Gaelic
#:%

#nb '%

+thnic groups (&/$$
#5%
38.$F White
#nb :%
)
8./F Asian
'./F -lack
&./F .iLed
/.CF *ther
Demonym -ritish, -riton
Government
Unitary parliamentary constitutional
monarchy
, .onarch Vueen (liBabeth !!
, <rime .inister 1a;id 2ameron
Legislature <arliament
, Upper house ?ouse of )ords
, )o"er house ?ouse of 2ommons
2ormation
, Acts of Union $8/8 $ .ay $8/8
, Acts of Union $3// $ >anuary $3/$
, Anglo,!rish +reaty A 1ecember $C&&
,
>oined the ((2
(no" the (U)
$ >anuary $C8'
Area
, +otal
&:',A$/ km
&
(3/th)
C:,/A/ sE mi
, Water (F) $.':
!opulation
, &/$& estimate A',8/5,///
#A%
(&&nd)
, &/$$ census A',$3$,885
#8%
(&&nd)
, 1ensity
&55.ADkm
&
(5$st)
AA$.CDsE mi
GD! (<<<) &/$' estimate
, +otal G&.'83 trillion (3th)
, <er capita G'3,'/C
#3%
(&$st)
GD! (nominal) &/$' estimate
, +otal G&.:C/ trillion (Ath)
, <er capita G:/,38C
#3%
(&:th)
Gini (&/$&)
'&.3
#C%
medium " ''rd
#D (&/$')
/.385
#$/%
;ery high " &Ath
Currency <ound sterling (GBP)
$ime %one G.+ (U+2)
, Summer (1S+) -S+ (U+2I$)
Date format ddDmmDyyyy (A1)
Drives on the left
Calling code I::
SO &'(( code G-
nternet $LD .uk
#nb 5%

+he United 0ingdom of Great 1ritain and Northern reland,
#nb A%
commonly kno"n as the
United 0ingdom (U0) or 1ritain (D b r .tW n D), is a so;ereign state located off the north,"estern
coast of continental (urope. +he country includes the island of Great -ritain (a term sometimes
loosely applied to the "hole state), the north,eastern part of the island of !reland, and many
smaller islands. 7orthern !reland is the only part of the UN that shares a land border "ith another
state0 the @epublic of !reland.
#nb 8%
Apart from this land border, the UN is surrounded by the
Atlantic *cean, "ith the 7orth Sea in the east, the (nglish 2hannel in the south and the !rish Sea
in the "est.
+he UNKs form of go;ernment is a constitutional monarchy
#$$%

#$&%
"ith a parliamentary system,
and its capital city is )ondon.
#$'%
+he current -ritish monarchMsince A February $C5&Mis Vueen
(liBabeth !!. +he United Ningdom consists of four countries0 (ngland, Scotland, Wales and
7orthern !reland.
#$:%
+he latter three ha;e de;ol;ed administrations,
#$5%
each "ith ;arying po"ers,
#$A%#$8%
based in their capital cities, (dinburgh, 2ardiff and -elfast, respecti;ely. Guernsey, >ersey
and the !sle of .an are 2ro"n dependencies and are not part of the UN.
#$3%
+he United Ningdom
has fourteen -ritish *;erseas +erritories.
#$C%
+hese are remnants of the -ritish (mpire "hich, at
its height in the late $Cth and early &/th centuries, encompassed almost a Euarter of the "orldKs
land mass and "as the largest empire in history. -ritish influence can be obser;ed in the
language, culture and legal systems of many of its former colonies.
+he United Ningdom is a de;eloped country and has the "orldKs siLth,largest economy by
nominal G1< and eighth,largest by purchasing po"er parity. !t "as the "orldKs first
industrialised country
#&/%
and the "orldKs foremost po"er during the $Cth and early &/th centuries.
#&$%
+he UN remains a great po"er "ith considerable economic, cultural, military, scientific and
political influence internationally.
#&&%#&'%
!t is a recognised nuclear "eapons state and its military
eLpenditure ranks fourth in the "orld.
#&:%
+he UN has been a permanent member of the United 7ations Security 2ouncil since its first
session in $C:A. !t has been a member of the (uropean Union ((U) and its predecessor the
(uropean (conomic 2ommunity (((2) since $C8'J it is also a member of the 2ommon"ealth of
7ations, the 2ouncil of (urope, the G8, the G3, the G&/, 7A+*, the *rganisation for (conomic
2o,operation and 1e;elopment (*(21) and the World +rade *rganiBation (W+*).
Contents
$ (tymology and terminology
& ?istory
o &.$ -efore $8/8
o &.& Since the Acts of Union of $8/8
' Geography
o '.$ 2limate
o '.& Administrati;e di;isions
o '.' 1ependencies
: <olitics
o :.$ Go;ernment
o :.& 1e;ol;ed administrations
o :.' )a" and criminal Qustice
o :.: Foreign relations
o :.5 .ilitary
5 (conomy
o 5.$ Science and technology
o 5.& +ransport
o 5.' (nergy
A 1emographics
o A.$ (thnic groups
o A.& )anguages
o A.' @eligion
o A.: .igration
o A.5 (ducation
o A.A ?ealthcare
8 2ulture
o 8.$ )iterature
o 8.& .usic
o 8.' =isual art
o 8.: 2inema
o 8.5 .edia
o 8.A <hilosophy
o 8.8 Sport
o 8.3 Symbols
3 See also
C 7otes
$/ @eferences
$$ Further reading
$& (Lternal links
+tymology and terminology
See also0 -ritain (placename) and +erminology of the -ritish !sles
+he $8/8 Acts of Union declared that the Ningdoms of (ngland and Scotland "ere United into
*ne Ningdom by the 7ame of Great -ritain though the ne" state is also referred to in the Acts
as the United Kingdom of Great ritain and the United Kingdom.
#&5%#&A%#nb 3%
+he term United
Kingdom is found in informal use during the $3th century and the country "as occasionally
referred to as the United Ningdom of Great -ritain.
#&8%
+he Acts of Union $3// united the
Ningdom of Great -ritain and the Ningdom of !reland in $3/$, and created the United Ningdom
of Great -ritain and !reland. +he name United Ningdom of Great -ritain and 7orthern !reland
"as adopted by the @oyal and <arliamentary +itles Act $C&8. !t reflected the independence of the
!rish Free State, and the partition of !reland, in $C&&, "hich left 7orthern !reland as the only part
of the island of !reland "ithin the UN.
#&3%
Although the United Ningdom, as a so;ereign state, is a country, (ngland, Scotland, Wales, and
to a lesser degree, 7orthern !reland, are also regarded as countries, though not so;ereign states.
#&C%#'/%
Scotland, Wales and 7orthern !reland ha;e de;ol;ed self,go;ernment.
#'$%#'&%
+he -ritish
<rime .inisterKs "ebsite has used the phrase countries "ithin a country to describe the United
Ningdom.
#$:%
Some statistical summaries, such as those for the t"el;e 7U+S $ regions of the
UN, also refer to Scotland, Wales and 7orthern !reland as regions.
#''%#':%
7orthern !reland is
also referred to as a pro;ince.
#&C%#'5%
With regard to 7orthern !reland, the descripti;e name used
can be contro;ersial, "ith the choice often re;ealing oneKs political preferences.
#'A%
+he term ritain is often used as synonym for the United Ningdom. +he term Great ritain, by
contrast, refers geographically to the island of Great -ritain, or politically to (ngland, Scotland
and Wales in combination.
#'8%#'3%#'C%
?o"e;er, it is sometimes used as a loose synonym for the
United Ningdom as a "hole.
#:/%#:$%
G and G! are the standard country codes for the United
Ningdom (see !S* '$AA,& and !S* '$AA,$ alpha,') and are conseEuently used by international
organisations to refer to the United Ningdom. Also, the United NingdomKs *lympic team
competes under the name Great -ritain or +eam G-.
#:&%#:'%
+he adQecti;e ritish is commonly used to refer to matters relating to the United Ningdom. +he
term has no definite legal connotation, but is used in la" to refer to UN citiBenship and matters
to do "ith nationality.
#::%
-ritish people use a number of different terms to describe their national
identity and may identify themsel;es as being -ritishJ or as being (nglish, Scottish, Welsh,
7orthern !rish, or !rishJ
#:5%
or as being both.
#:A%
!n &//A, a ne" design of -ritish passport "as introduced. !ts first page sho"s the long form
name of the state in (nglish, Welsh and Scottish Gaelic.
#:8%
!n Welsh, the long form name of the
state is +eyrnas Unedig <rydain Fa"r a Gogledd !"erddon "ith +eyrnas Unedig being used
as a short form name on go;ernment "ebsites.
#:3%
!n Scottish Gaelic, the long form is @Xoghachd
Aonaichte na -reatainne .Yire is Zireann a +uath and the short form @Xoghachd Aonaichte.
#istory
See also0 ?istory of the -ritish !sles
1efore '343
Stonehenge, in Wiltshire, "as erected around &5// -2.
.ain articles0 ?istory of (ngland, ?istory of Wales, ?istory of Scotland, ?istory of !reland, and
?istory of the formation of the United Ningdom
Settlement by anatomically modern humans of "hat "as to become the United Ningdom
occurred in "a;es beginning by about '/,/// years ago.
#:C%
-y the end of the regionKs prehistoric
period, the population is thought to ha;e belonged, in the main, to a culture termed !nsular
2eltic, comprising -rythonic -ritain and Gaelic !reland.
#5/%
+he @oman conEuest, beginning in
:' A1, and the ://,year rule of southern -ritain, "as follo"ed by an in;asion by Germanic
Anglo,SaLon settlers, reducing the -rythonic area mainly to "hat "as to become Wales and the
historic Ningdom of Strathclyde.
#5$%
.ost of the region settled by the Anglo,SaLons became
unified as the Ningdom of (ngland in the $/th century.
#5&%
.ean"hile, Gaelic,speakers in north
"est -ritain ("ith connections to the north,east of !reland and traditionally supposed to ha;e
migrated from there in the 5th century)
#5'%#5:%
united "ith the <icts to create the Ningdom of
Scotland in the Cth century.
#55%
!n $/AA, the 7ormans in;aded (ngland from France and after its conEuest, seiBed large parts of
Wales, conEuered much of !reland and "ere in;ited to settle in Scotland, bringing to each
country feudalism on the 7orthern French model and 7orman,French culture.
#5A%
+he 7orman
elites greatly influenced, but e;entually assimilated "ith, each of the local cultures.
#58%

SubseEuent medie;al (nglish kings completed the conEuest of Wales and made an unsuccessful
attempt to anneL Scotland. +hereafter, Scotland maintained its independence, albeit in near,
constant conflict "ith (ngland. +he (nglish monarchs, through inheritance of substantial
territories in France and claims to the French cro"n, "ere also hea;ily in;ol;ed in conflicts in
France, most notably the ?undred 9ears War, "hile the Nings of Scots "ere in an alliance "ith
the French during this period.
#53%
+he -ayeuL +apestry depicts the -attle of ?astings and the e;ents leading to it.
+he early modern period sa" religious conflict resulting from the @eformation and the
introduction of <rotestant state churches in each country.
#5C%
Wales "as fully incorporated into
the Ningdom of (ngland,
#A/%
and !reland "as constituted as a kingdom in personal union "ith the
(nglish cro"n.
#A$%
!n "hat "as to become 7orthern !reland, the lands of the independent 2atholic
Gaelic nobility "ere confiscated and gi;en to <rotestant settlers from (ngland and Scotland.
#A&%
!n $A/', the kingdoms of (ngland, Scotland and !reland "ere united in a personal union "hen
>ames =!, Ning of Scots, inherited the cro"ns of (ngland and !reland and mo;ed his court from
(dinburgh to )ondonJ each country ne;ertheless remained a separate political entity and retained
its separate political, legal, and religious institutions.
#A'%#A:%
!n the mid,$8th century, all three kingdoms "ere in;ol;ed in a series of connected "ars
(including the (nglish 2i;il War) "hich led to the temporary o;erthro" of the monarchy and the
establishment of the short,li;ed unitary republic of the 2ommon"ealth of (ngland, Scotland and
!reland.
#A5%#AA%
Although the monarchy "as restored, it ensured ("ith the Glorious @e;olution of $A33) that,
unlike much of the rest of (urope, royal absolutism "ould not pre;ail, and a professed 2atholic
could ne;er accede to the throne. +he -ritish constitution "ould de;elop on the basis of
constitutional monarchy and the parliamentary system.
#A8%
1uring this period, particularly in
(ngland, the de;elopment of na;al po"er (and the interest in ;oyages of disco;ery) led to the
acEuisition and settlement of o;erseas colonies, particularly in 7orth America.
#A3%#AC%
Since the Acts of Union of '343
.ain article0 ?istory of the United Ningdom
+he +reaty of Union led to a single united kingdom encompassing all Great -ritain.
*n $ .ay $8/8, the united kingdom of Great -ritain came into being, the result of Acts of Union
being passed by the parliaments of (ngland and Scotland to ratify the $8/A +reaty of Union and
so unite the t"o kingdoms.
#8/%#8$%#8&%
!n the $3th century, cabinet go;ernment de;eloped under @obert Walpole, in practice the first
prime minister ($8&$O$8:&). A series of >acobite Uprisings sought to remo;e the <rotestant
?ouse of ?ano;er from the -ritish throne and restore the 2atholic ?ouse of Stuart. +he
>acobites "ere finally defeated at the -attle of 2ulloden in $8:A, after "hich the Scottish
?ighlanders "ere brutally suppressed. +he -ritish colonies in 7orth America that broke a"ay
from -ritain in the American War of !ndependence became the United States of America in
$83&. -ritish imperial ambition turned else"here, particularly to !ndia.
#8'%
1uring the $3th century, -ritain "as in;ol;ed in the Atlantic sla;e trade. -ritain transported an
estimated & million sla;es from Africa to the West !ndies before banning the trade in $3/8.
#8:%

+he term KUnited NingdomK became official in $3/$ "hen the parliaments of -ritain and !reland
each passed an Act of Union, uniting the t"o kingdoms and creating the United Ningdom of
Great -ritain and !reland.
#85%
!n the early $Cth century, the -ritish,led !ndustrial @e;olution began to transform the country. !t
slo"ly led to a shift in political po"er a"ay from the old +ory and Whig lando"ning classes
to"ards the ne" industrialists. An alliance of merchants and industrialists "ith the Whigs "ould
lead to a ne" party, the )iberals, "ith an ideology of free trade and laissez"faire. !n $3'&
<arliament passed the Great @eform Act, "hich began the transfer of political po"er from the
aristocracy to the middle classes. !n the countryside, enclosure of the land "as dri;ing small
farmers out. +o"ns and cities began to s"ell "ith a ne" urban "orking class. Fe" ordinary
"orkers had the ;ote, and they created their o"n organisations in the form of trade unions.
+he -attle of Waterloo marked the end of the 7apoleonic Wars and the start of <aL -ritannica.
After the defeat of France in the @e;olutionary and 7apoleonic Wars ($8C&O$3$5), the UN
emerged as the principal na;al and imperial po"er of the $Cth century ("ith )ondon the largest
city in the "orld from about $3'/).
#8A%
Unchallenged at sea, -ritish dominance "as later
described as #a$ ritannica.
#88%#83%
-y the time of the Great (Lhibition of $35$, -ritain "as
described as the "orkshop of the "orld.
#8C%
+he -ritish (mpire "as eLpanded to include !ndia,
large parts of Africa and many other territories throughout the "orld. Alongside the formal
control it eLerted o;er its o"n colonies, -ritish dominance of much of "orld trade meant that it
effecti;ely controlled the economies of many countries, such as 2hina, Argentina and Siam.
#3/%#3$%
1omestically, political attitudes fa;oured free trade and laisseB,faire policies and a gradual
"idening of the ;oting franchise. 1uring the century, the population increased at a dramatic rate,
accompanied by rapid urbanisation, causing significant social and economic stresses.
#3&%
After
$385, the UNKs industrial monopoly "as challenged by Germany and the USA. +o seek ne"
markets and sources of ra" materials, the 2onser;ati;e <arty under 1israeli launched a period of
imperialist eLpansion in (gypt, South Africa and else"here. 2anada, Australia and 7e" [ealand
became self,go;erning dominions.
#3'%
Social reform and home rule for !reland "ere important domestic issues after $C//. +he )abour
<arty emerged from an alliance of trade unions and small Socialist groups in $C//, and
suffragettes campaigned for "omenKs right to ;ote before $C$:.
!nfantry of the @oyal !rish @ifles during the -attle of the Somme. .ore than 335,/// -ritish
soldiers died on the battlefields of World War !.
+he UN fought "ith France, @ussia and (after $C$8) the US, against Germany and its allies in
World War ! ($C$:O$3).
#3:%
+he UN armed forces "ere engaged across much of the -ritish
(mpire and in se;eral regions of (urope, particularly on the Western front.
#35%
+he high fatalities
of trench "arfare caused the loss of much of a generation of men, "ith lasting social effects in
the nation and a great disruption in the social order.
After the "ar, the UN recei;ed the )eague of 7ations mandate o;er a number of former German
and *ttoman colonies. +he -ritish (mpire reached its greatest eLtent, co;ering a fifth of the
"orldKs land surface and a Euarter of its population.
#3A%
?o"e;er, the UN had suffered &.5 million
casualties and finished the "ar "ith a huge national debt.
#35%
+he rise of !rish 7ationalism and
disputes "ithin !reland o;er the terms of !rish ?ome @ule led e;entually to the partition of the
island in $C&$,
#38%
and the !rish Free State became independent "ith 1ominion status in $C&&.
7orthern !reland remained part of the United Ningdom.
#33%
A "a;e of strikes in the mid,$C&/s
culminated in the UN General Strike of $C&A. +he UN had still not reco;ered from the effects of
the "ar "hen the Great 1epression ($C&CO'&) occurred. +his led to considerable unemployment
and hardship in the old industrial areas, as "ell as political and social unrest in the $C'/s. A
coalition go;ernment "as formed in $C'$.
#3C%
+he UN entered World War !! by declaring "ar on Germany in $C'C, after it had in;aded <oland
and 2Bechoslo;akia. !n $C:/, Winston 2hurchill became prime minister and head of a coalition
go;ernment. 1espite the defeat of its (uropean allies in the first year of the "ar, the UN
continued the fight alone against Germany. !n $C:/, the @AF defeated the German )uft"affe in
a struggle for control of the skies in the -attle of -ritain. +he UN suffered hea;y bombing
during the -litB. +here "ere also e;entual hard,fought ;ictories in the -attle of the Atlantic, the
7orth Africa campaign and -urma campaign. UN forces played an important role in the
7ormandy landings of $C::, achie;ed "ith its ally the US. After GermanyKs defeat, the UN "as
one of the -ig +hree po"ers "ho met to plan the post,"ar "orldJ it "as an original signatory to
the 1eclaration of the United 7ations. +he UN became one of the fi;e permanent members of
the United 7ations Security 2ouncil. ?o"e;er, the "ar left the UN se;erely "eakened and
depending financially on .arshall Aid and loans from the United States.
#C/%
+erritories that "ere at one time part of the -ritish (mpire. 2urrent -ritish *;erseas +erritories
are underlined in red.
!n the immediate post,"ar years, the )abour go;ernment initiated a radical programme of
reforms, "hich had a significant effect on -ritish society in the follo"ing decades.
#C$%
.aQor
industries and public utilities "ere nationalised, a Welfare State "as established, and a
comprehensi;e, publicly funded healthcare system, the 7ational ?ealth Ser;ice, "as created.
#C&%

+he rise of nationalism in the colonies coincided "ith -ritainKs no" much,diminished economic
position, so that a policy of decolonisation "as una;oidable. !ndependence "as granted to !ndia
and <akistan in $C:8.
#C'%
*;er the neLt three decades, most colonies of the -ritish (mpire gained
their independence. .any became members of the 2ommon"ealth of 7ations.
#C:%
Although the UN "as the third country to de;elop a nuclear "eapons arsenal ("ith its first
atomic bomb test in $C5&), the ne" post,"ar limits of -ritainKs international role "ere illustrated
by the SueB 2risis of $C5A. +he international spread of the (nglish language ensured the
continuing international influence of its literature and culture. From the $CA/s on"ard, its
popular culture "as also influential abroad. As a result of a shortage of "orkers in the $C5/s, the
UN go;ernment encouraged immigration from 2ommon"ealth countries. !n the follo"ing
decades, the UN became a multi,ethnic society.
#C5%
1espite rising li;ing standards in the late
$C5/s and $CA/s, the UNKs economic performance "as not as successful as many of its
competitors, such as West Germany and >apan. !n $C8', the UN Qoined the (uropean (conomic
2ommunity (((2), and "hen the ((2 became the (uropean Union ((U) in $CC&, it "as one of
the $& founding members.
After the t"o ;etos of France in $CA$ and $CA8, the UN entered in the (uropean Union in $C8'.
!n $C85, A8F of -ritons ;oted yes to the permanence in the (uropean Union.
From the late $CA/s, 7orthern !reland suffered communal and paramilitary ;iolence (sometimes
affecting other parts of the UN) con;entionally kno"n as the +roubles. !t is usually considered to
ha;e ended "ith the -elfast Good Friday Agreement of $CC3.
#CA%#C8%#C3%
Follo"ing a period of "idespread economic slo"do"n and industrial strife in the $C8/s, the
2onser;ati;e Go;ernment of the $C3/s initiated a radical policy of monetarism, deregulation,
particularly of the financial sector (for eLample, -ig -ang in $C3A) and labour markets, the sale
of state,o"ned companies (pri;atisation), and the "ithdra"al of subsidies to others.
#CC%
+his
resulted in high unemployment and social unrest, but ultimately also economic gro"th,
particularly in the ser;ices sector. From $C3:, the economy "as helped by the inflo" of
substantial 7orth Sea oil re;enues.
#$//%
Around the end of the &/th century there "ere maQor changes to the go;ernance of the UN "ith
the establishment of de;ol;ed administrations
#$5%
for Scotland, Wales and 7orthern !reland.
#$/$%

+he statutory incorporation follo"ed acceptance of the (uropean 2on;ention on ?uman @ights.
+he UN is still a key global player diplomatically and militarily. !t plays leading roles in the (U,
U7 and 7A+*. ?o"e;er, contro;ersy surrounds some of -ritainKs o;erseas military
deployments, particularly in Afghanistan and !raE.
#$/&%
!n &/$', the UN is stri;ing to reco;er from a slump that follo"ed the &//3 global financial crisis.
A coalition go;ernment has introduced austerity measures "hich aim to tackle a large budget
deficit.
#$/'%
Scottish !ndependence is back on the agenda. +he Scottish Go;ernment "ill hold an
independence referendum on $3 September &/$:. !f passed Scotland "ill become a so;ereign
state independent of the other nations "ithin the current UN.
#$/:%
1angladesh 1an5
From Wikipedia, the free encyclopedia
1angladesh 1an5

-angladesh -ank .onogram
#ead6uarters 1haka, -angladesh
+sta7lished 1ecember $A, $C8$ (:& years ago)
Governor as Atiur @ahman
Central 7an5 of -angladesh
Currency +aka
!S* :&$8 2ode >->
-e7site http0DD""".bangladesh,bank.org
reser;es data up to month of >anuary &/$'.
source0 1hakaKs foreign eLchange reser;e cross G$/ bn
1angladesh 1an5 (-engali0 ) is the 2entral bank of -angladesh and is a member
of the Asian 2learing Union.
+he bank is acti;e in de;eloping green banking
#$%
and financial inclusion policy and is an
important member of the Alliance for Financial !nclusion.
#&%
-angladesh Financial !ntelligence
Unit (-F!U), a department of -angladesh -ank, has got the membership of (gmont Group.
+his is the first central bank in the "orld to introduce a dedicated hotline ($A&'A) for the general
people to complain any banking related problem. .oreo;er this organiBation is the first central
bank in the "orld to issue a Green -anking <olicy. +o ackno"ledge this contribution, current
Go;ernor of this organiBation, 1r. Atiur @ahman "as gi;en the \Green Go;ernorU title in the
&/$& United 7ations 2limate 2hange 2onference, held at the Vatar 7ational 2on;ention 2entre
in 1oha .
Contents
$ ?istory
& Functions
' *rganisation
o '.$ ?ierarchy
o '.& -oard of 1irectors
: Former Go;ernors
5 See also
A @eferences
8 (Lternal links
#istory
.ain article0 ?istory of -anking in -angladesh
After the liberation "ar, and the e;entual independence of -angladesh, the Go;ernment of
-angladesh reorganiBed the 1haka branch of the State -ank of <akistan as the central bank of
the country, and named it -angladesh -ank. +his reorganiBation "as done pursuant to
-angladesh -ank *rder, $C8&, and the -angladesh -ank came into eListence "ith retrospecti;e
effect from $A 1ecember $C8$.
+he $C8$ .uQib regime ran a pro,socialist agenda O in $C8&, the go;ernment decided to
nationaliBe all banks in order to channel funds to the public sector and to prioritiBe credit to those
sectors that sought to reconstruct the "ar,torn country O mainly industries and agricultural
sectors.
#'%
?o"e;er, go;ernment control at the "rong sectors pre;ented these banks from
functioning "ell. +his "as compounded by the fact that loans "ere handed out to the public
sector "ithout commercial considerations, that banks had poor capital lease, pro;ided poor
customer ser;ices and didnUt ha;e any market,based monetary instruments. -ut mostly, because
loans "ere gi;en out "ithout commercial sense, and because they took a long time to call a loan
non,performing, and once they did so, reco;ery under the erst"hile Qudicial system "as so
abQectly eLpensi;e, their loan reco;ery "as abysmally poor.
#'%#:%
While the go;ernment made a
point of inter;ening e;ery"here, it didnUt set up a proper regulatory system that "ould diagnose
such problems and correct them. ?ence, banking concepts like profitability and liEuidity "as
alien to bank managers, and capital adeEuacy took backseat.
#:%
!n $C3&, the first reform program "as initiated, "here the go;ernment denationaliBed t"o of the
siL nationaliBed commercial banks and permitted local pri;ate banks to create competition in the
banking sector. !n $C3A, a %ational &ommission on 'one() anking and &redit "as appointed
#:%

to reco;er the problems of the banking sector and a number of steps "ere taken for the reco;ery
targets for the nationaliBed commercial banks and de;elopment financial institutions and
prohibiting defaulters from getting ne" loans, yet, the efficiency of the banking sectors could not
be impro;ed.
#'%
+he Financial Sector AdQustment 2redit (FSA2) and Financial Sector @eform <rogramme
(FS@<) "ere formed in $CC/, upon contracts "ith the World -ank "ith the obQecti;e to remo;e
go;ernment distortions and lessen the financial repression.
#:%
+he policies made use of the
.cNinnon,Sha" hypothesis "hich stated that remo;ing distortions "ill augment efficiency in
the credit market and increase competition.
#'%
+he policies therefore in;ol;ed banks to pro;ide
loans on commercial basis, enhance banksU efficiency and to limit go;ernment control to the
monetary policy only. FS@< forced banks to ha;e a minimum capital adeEuacy, to systematically
classify loans and to implement modern accounting systems and computeriBed systems. !t forced
the central bank to free up interest rates, re;ise financial la"s, and to increase super;ision in the
credit market. +he go;ernment also de;eloped the capital market, "hich too "as performing
poorly.
?o"e;er, FS@< "as eLpired in $CCA and after"ard the Go;ernment of -angladesh formed a
-ank @eform 2ommittee (-@2) "hose recommendations "ere largely remained unaddressed by
the then go;ernment.
2unctions
-ank performs as -alait "ishes all the functions that a central bank of any country is eLpected to
perform, and such functions include maintaining the price stability through economic and
monetary policy measures, managing the countryUs foreign eLchange and the gold reser;e and
regulating the banking sector of the country. )ike all other central banks across the globe,
-angladesh -ank is both the Go;ernmentUs banker and the bankerUs bank, a R)ender of the )ast
@esortS. -angladesh -ank, like most of the central banks of different countries, eLercises
monopoly o;er the issue of currency and the banknotes. (Lcept for the $ and & taka notes, it
issues all other denominations of -angladeshi +aka.2redit control, 2learing ?ouse, 2ontrol
.oney .arket, >ob creation,Agricultural de;elopment, S.( de;elopment, !ndustrial
de;elopment,and 7atural resources de;elopment are also the functions of -angladesh -ank.
1an6ue de 2rance
From Wikipedia, the free encyclopedia
(@edirected from -ank of France)
+his article needs additional citations for verification. <lease help impro;e this article
by adding citations to reliable sources. Unsourced material may be challenged and
remo;ed. *'arch +,-,.
1an6ue de 2rance
)ogo ?eadEuarters 0 ?]tel de +oulouse in <aris
#ead6uarters <aris, France
+sta7lished $3 >anuary $3//
Governor 2hristian 7oyer
Central 7an5 of France
-e7site """.banEue,france.fr
!receded 7y -anEue @oyale
Succeeded 7y (uropean 2entral -ank ($CCC)
$
$
+he -ank of France (-anEue de France) still eLists but many functions ha;e
been taken o;er by the (2-.
+he 1an6ue de 2rance is the central bank of FranceJ it is linked to the (uropean 2entral -ank
((2-). !ts main charge is to implement the interest rate policy of the (uropean System of
2entral -anks ((S2-). !t is headEuartered in <aris.
Contents
$ ?istory
& )inkage "ith the (S2-
' +imeline
: 2ontro;ersy
5 See also
A @eferences
8 (Lternal links
#istory
!n $3// financial po"er in France "as in the hands of about ten to fifteen banking houses "hose
founders, in most cases, came from S"itBerland in the second half of the eighteenth century.
+hese bankers, mostly <rotestant, "ere deeply in;ol;ed in the agitations leading up to the French
@e;olution. When the re;olutionary ;iolence got out of hand, they orchestrated the rise of
7apoleon, "hom they regarded as the restorer of order. As a re"ard for their support, 7apoleon,
in $3//, ga;e these bankers a monopoly o;er French finance by gi;ing them control of the ne"
-ank of France.
#$%
1an5 of +ngland
From Wikipedia, the free encyclopedia
Bank of England
Logo Headquarters
Headquarters Threadneedle Street, London, England
Coordinates
5151!"#$% ""&&'($W )oordinates *
5151!"#$% ""&&'($W
Established +, -uly 1#(!. '1( years ago
Governor /ark )arney
Central bank of 0nited 1ingdom
Currency 2ound sterling
3S4 !+1, )ode 562
Reserves 7!"',""',""","""
819
Reserve
requirements
%one
Bank rate "5:
8+9
Interest rate target Same as 6ank ;ate
Interest on reserves Same as 6ank ;ate
Interest paid on
excess reserves
<es, since =uantitati>e easing ?egan in
+""(
!ebsite @@@?ankofenglandcouk
+he 1an5 of +ngland, formally the Governor and Company of the 1an5 of +ngland, is the
central bank of the United Ningdom and the model on "hich most modern central banks ha;e
been based. (stablished in $AC:, it is the second oldest central bank in the "orld, after the
S;eriges @iksbank, and the "orldKs 3th oldest bank. !t "as established to act as the (nglish
Go;ernmentKs banker, and is still the banker for the Go;ernment of the United Ningdom. +he
-ank "as pri;ately o"ned by stockholders from its foundation in $AC: until nationalised in
$C:A.
#'%#:%
!n $CC3, it became an independent public organisation, "holly o"ned by the +reasury Solicitor
#5%


on behalf of the go;ernment, "ith independence in setting monetary policy.
#A%#8%#3%#C%
+he -ank is one of eight banks authorised to issue banknotes in the United Ningdom, but has a
monopoly on the issue of banknotes in (ngland and Wales and regulates the issue of banknotes
by commercial banks in Scotland and 7orthern !reland.
#$/%
+he -ankKs .onetary <olicy 2ommittee has de;ol;ed responsibility for managing monetary
policy. +he +reasury has reser;e po"ers to gi;e orders to the committee if they are reEuired in
the public interest and by eLtreme economic circumstances but such orders must be endorsed by
<arliament "ithin &3 days.
#$$%
+he -ankKs Financial <olicy 2ommittee held its first meeting in
>une &/$$ as a macro prudential regulator to o;ersee regulation of the UNKs financial sector.
+he -ankKs headEuarters ha;e been in )ondonKs main financial district, the 2ity of )ondon, on
+hreadneedle Street, since $8':. !t is sometimes kno"n by the metonym The /ld 0ad( of
Threadneedle 1treet or The /ld 0ad(, a name taken from the legend of Sarah Whitehead, "hose
ghost is said to haunt the -ankKs garden.
#$&%
+he busy road Qunction outside is kno"n as -ank
Qunction.
.ark 2arney assumed the post of +he Go;ernor of the -ank of (ngland on $ >uly &/$'. ?e
succeeded .er;yn Ning, "ho took o;er on '/ >une &//'. 2arney, a 2anadian, "ill ser;e an
initial fi;e,year term rather than the typical eight, and "ill seek UN citiBenship.
#$'%
?e is the first
non,-riton to hold the post. As of >anuary &/$:, the -ank also has three 1eputy Go;ernors.
Contents
1 History
o 11 1(th century
o 1+ +"th century
+ Functions of the 6ank
o +1 /onetary sta?ility
o ++ Financial sta?ility
o +' Asset purchase facility
' 6anknote issues
! The >ault
5 See also
# ;eferences
, Further reading
& EBternal links
#istory
The sealing of the 6ank of England )harter C1#(!D
(nglandKs crushing defeat by France, the dominant na;al po"er, in na;al engagements
culminating in the $AC/ -attle of -eachy ?ead, became the catalyst for (nglandKs rebuilding
itself as a global po"er. (ngland had no choice but to build a po"erful na;y. 7o public funds
"ere a;ailable, and the credit of William !!!Ks go;ernment "as so lo" in )ondon that it "as
impossible for it to borro" the ^$,&//,/// (at 3 per cent) that the go;ernment "anted.
!n order to induce subscription to the loan, the subscribers "ere to be incorporated by the name
of the Go;ernor and 2ompany of the -ank of (ngland. +he -ank "as gi;en eLclusi;e
possession of the go;ernmentKs balances, and "as the only limited,liability corporation allo"ed
to issue bank notes.
#$:%
+he lenders "ould gi;e the go;ernment cash (bullion) and issue notes
against the go;ernment bonds, "hich can be lent again. +he ^$.&m "as raised in $& daysJ half of
this "as used to rebuild the na;y.
As a side effect, the huge industrial effort needed, from establishing iron,"orks to make more
nails to agriculture feeding the Euadrupled strength of the na;y, started to transform the
economy. +his helped the ne" Ningdom of Great -ritain O (ngland and Scotland "ere formally
united in $8/8 O to become po"erful. +he po"er of the na;y made -ritain the dominant "orld
po"er in the late eighteenth and early nineteenth centuries.
#$5%
+he establishment of the bank "as de;ised by 2harles .ontagu, $st (arl of ?alifaL, in $AC:, to
the plan proposed by William <aterson three years before, but had not been acted upon.
#$A%
?e
proposed a loan of ^$.&m to the go;ernmentJ in return the subscribers "ould be incorporated as
$he Governor and Company of the 1an5 of +ngland "ith long,term banking pri;ileges
including the issue of notes. +he @oyal 2harter "as granted on &8 >uly through the passage of
the +onnage Act $AC:.
#$8%
<ublic finances "ere in so dire a condition at the time that the terms of
the loan "ere that it "as to be ser;iced at a rate of 3F per annum, and there "as also a ser;ice
charge of ^:,/// per annum for the management of the loan. +he first go;ernor "as Sir >ohn
?oublon, "ho is depicted in the ^5/ note issued in $CC:. +he charter "as rene"ed in $8:&,
$8A:, and $83$.
Satirical cartoon protesting against the introduction of paper money, ?y -ames 5illray, 1,(,
The E4ld Lady of Threadneedle StE Cthe 6ank personifiedD is ra>ished ?y William 2itt the
<ounger
+he -ankKs original home "as in Walbrook in the 2ity of )ondon, "here during reconstruction
in $C5: archaeologists found the remains of a @oman temple of .ithras (.ithras "as O rather
fittingly O "orshipped as being the God of 2ontracts)J the .ithraeum ruins are perhaps the most
famous of all t"entieth,century @oman disco;eries in the 2ity of )ondon and can be ;ie"ed by
the public.
+he -ank mo;ed to its current location on +hreadneedle Street, and thereafter slo"ly acEuired
neighbouring land to create the edifice seen today. Sir ?erbert -akerKs rebuilding of the -ank,
demolishing most of Sir >ohn SoaneKs earlier building, "as described by architectural historian
7ikolaus <e;sner as the greatest architectural crime, in the 2ity of )ondon, of the t"entieth
century.
When the idea and reality of the 7ational 1ebt came about during the $3th century this "as also
managed by the -ank. -y the charter rene"al in $83$ it "as also the bankersK bank O keeping
enough gold to pay its notes on demand until &A February $8C8 "hen "ar had so diminished
gold reser;es that the go;ernment prohibited the -ank from paying out in gold. +his prohibition
lasted until $3&$.
+he -ank also had a narro" escape of a different nature. !n $83/, rioters in )ondon tried to
storm the building. +hereafter, e;ery night until $C8', a detachment of soldiers patrolled the
perimeter to ensure the safety of the nationKs gold.
#$3%
Sveriges .i5s7an5
From Wikipedia, the free encyclopedia
(@edirected from -ank of S"eden)
Sveriges .i5s7an5
Sveriges .i5s7an5 8S9edish:
)ogo ?eadEuarters
#ead6uarters Stockholm
+sta7lished $AA3
Governor Stefan !ng;es
Central 7an5 of S"eden
Currency S"edish krona
!S* :&$8 2ode S(N
.eserve re6uirements 7one
1an5 rate $./ to $.85
#$%
nterest on reserves /.&5 to $./
#$%
nterest paid on e,cess
reserves;
not applicable (no reser;e
reEuirements)
-e7site http0DD""".riksbank.se
!receded 7y
@iksens St_nders -ank ($3AA)
Stockholms -anco($AA3)
Sveriges .i5s7an5, or simply .i5s7an5en, is the central bank of S"eden. !t is the "orldKs
oldest central bank
#&%
and the "orldKs :th oldest bank still in operation. !t is sometimes called the
S9edish National 1an5 or the 1an5 of S9eden (not to be confused "ith S"edbank, a retail
bank).
Contents
$ ?istory
& .otto
' S;eriges @iksbank <riBe in (conomic Sciences in .emory of Alfred 7obel
: 7egati;e !nterest @ate
5 Go;ernors of S;eriges @iksbank
o 5.$ First 1eputies
o 5.& Go;ernors
A See also
8 @eferences
3 (Lternal links
#istory
+he @iksbank began its operations in $AA3, its antecedent being 1tockholms anco (also kno"n
as the ank of #almstruch), "hich "as founded by >ohan <almstruch in $A5A. Although the bank
"as pri;ate, it "as the king "ho chose its management0 in a letter to <almstruch, he ga;e
permission to its operations according to stated regulations.
?o"e;er, Stockholms -anco, the "orldKs oldest note,issuing bank, collapsed as a result of the
issuing of too many notes "ithout the necessary collateral. <almstruch, "ho "as considered
responsible for the bankKs losses, "as condemned to death, but later recei;ed clemency. *n $8
September $AA3, the pri;ilege of <almstruch to operate a bank "as transferred to the !iksens
1t2nders ank (translation0 -ank of the (states of the @ealm) and "as run under the auspices of
the parliament of the day. 1ue to the failure of Stockholm -anco, the ne" bank "as managed
under the direct control of the @iksdag of the (states to pre;ent the interference of the king.
When a ne" @iksdag "as instituted in $3AA, the name of the bank "as changed to S;eriges
@iksbank.
?a;ing learnt the lesson of the Stockholms -anco eLperience, the @iksbank "as not permitted to
issue bank,notes. 7e;ertheless, in $8/$, permission "as granted to issue so called credit"notes.
Some time in the middle of the $3th century, counterfeit notes began appearing, "hich caused
serious problems. +o pre;ent forgeries, it "as decided that the @iksbank should produce its o"n
paper for bank,notes and a paper,mill, +umba -ruk, "as founded in +umba, on the outskirts of
Stockholm.
A fe" years later, the first commercial banks "ere founded and these "ere also allo"ed to issue
bank,notes. +he bank,notes represented a claim to the bank "ithout interest paid, and thus
became a considerable source of income to the banks. 7onetheless, security in the form of a
deposit at the @iksbank "as reEuired to co;er the ;alue of all notes issued.
1uring the $Cth century, the @iksbank maintained a dominant position as a credit institution and
issuer of bank,notes. +he bank also managed national trade transactions as "ell as continuing to
pro;ide credit to the general public. +he first branch,office "as opened in $3&:, later follo"ed
"ith subsidiary branches opening in each county (l2n). +he present operational acti;ities as a
central bank differ from those during the $Cth century. For eLample, no interest,rate related
acti;ities "ere conducted.
+he position of the @iksbank as a central bank dates back to $3C8, "hen the first !iksbank Act
"as accepted concurrently "ith a la" gi;ing the @iksbank the eLclusi;e right of issuing bank,
notes. +his copyright concluded its role and importance regarding monetary policy in a modern
sense, as the eLclusi;e right to issue notes is a condition "hen conducting monetary policy and
defending the ;alue of a currency. -ehind the decision "ere repeated demands that the pri;ate
banks should cease to issue notes as it "as considered that the ensuing profits should befall the
general public.
+he S"edish currency "as backed by gold and the paper,certificates could be eLchanged for
gold coins until $C'$, "hen a specialiBed temporary la" "as "ritten to free the bank from this
obligation. +his la" "as rene"ed e;ery year until the ne" constitution "as ratified in $C85
"hich split the bank from the go;ernment into a stand,alone organiBation not obligated to
eLchange notes for gold.
#'%
!n 7o;ember $CC&, the fiLed eLchange rate regime of the S"edish Nrona collapsed. A fe"
months later, in >anuary $CC', the Go;erning -oard of the @iksbank de;eloped a ne" monetary
policy regime based on a floating eLchange rate and an inflation target. +hese policies "ere
eLtensi;ely influenced by assistance from the -ank of 2anada, "hich had eLtensi;e pre;ious
eLperience controlling inflation, "hile similarly being a small open economy, hea;ily subQect to
foreign eLchange rate s"ings.
#:%
From $CC$OC', S"eden eLperienced the most se;ere recession since the $C'/s. +he recession in
the early $CC/s forced inflation do"n to around &F. +he rate of inflation continued to be lo"
during the subseEuent years of strong gro"th in the late $CC/s.
1uring the &///s, the operations and administrati;e departments "ere do"n,siBed on behalf of
the policy departments Financial Stability 1epartment and .onetary <olicy 1epartment. A
direct conseEuence of the changing times "as that the @iksbank closed do"n all its branches in
S"eden and outsourced the handling of coins and bills to a pri;ate company. +oday the policy
departments are the core of the central bank and they employ about half of the bankKs '5/ full,
time posts.
Motto
+he motto of the -ank is 3inc robur et securitas, "hich is latin for 3erefore strength and safet(.
State 1an5 of !a5istan
From Wikipedia, the free encyclopedia
+his article needs additional citations for verification. <lease help impro;e this article
by adding citations to reliable sources. Unsourced material may be challenged and
remo;ed. *4une +,-+.
State 1an5 of !a5istan
<=>? @ABC DEFGHEI
State -ank of <akistan
#ead6uarters Narachi, <akistan
+sta7lished 'JKL
Central 7an5 of <akistan
Currency <akistani rupee
!S* :&$8 2ode <N@
-e7site """.sbp.org.pk
+he State 1an5 of !a5istan (S-<) (Urdu0 `abc defg hijklim ) is the central bank of <akistan.
While its constitution, as originally laid do"n in the State -ank of <akistan *rder $C:3,
remained basically unchanged until >anuary $, $C8:, "hen the bank "as nationaliBed, the scope
of its functions "as considerably enlarged. +he State -ank of <akistan Act $C5A,
#$%
"ith
subseEuent amendments, forms the basis of its operations today. +he headEuarters are located in
the financial capital of <akistan, Narachi "ith its second headEuarters in the capital, !slamabad.
Contents
$ ?istory
& @egulation of liEuidity
' -anking
o '.$ -ank assets and liabilities
: Go;ernor
5 2entral -oard of 1irectors
A See also
8 @eferences
3 (Lternal links
#istory
-efore independence on $: August $C:8, during -ritish colonial regime the @eser;e -ank of
!ndia "as the central bank for both !ndia and <akistan. *n '/ 1ecember $C:3 the -ritish
Go;ernmentKs commission distributed the @eser;e -ank of !ndiaKs reser;es bet"een <akistan and
!ndia ,'/ percent (85/ . gold) for <akistan and 8/ percent for !ndia.
#&%
+he losses incurred in the transition to independence , small amount taken from <akistanKs share
(a total of &'/ million). !n .ay, $C:3 .uhammad Ali >innah (Founder of <akistan) took steps to
establish the State -ank of <akistan immediately. +hese "ere implemented in >une $C:3, and the
State -ank of <akistan commenced operation on >uly $, $C:3
.uhammad Ali >innah, the founder of <akistan, making a speech at the opening of the State
-ank of <akistan.
Under the State 1an5 of !a5istan Order 'JKL, the state bank of <akistan "as charged "ith the
duty to regulate the issue of bank notes and keeping of reser;es "ith a ;ie" to securing
monetary stability in <akistan and generally to operate the currency and credit system of the
country to its ad;antage.
A large section of the state bankKs duties "ere "idened "hen the State 1an5 of !a5istan Act
'JM( "as introduced. !t reEuired the state bank to regulate the monetary and credit system of
<akistan and to foster its gro"th in the best national interest "ith a ;ie" to securing monetary
stability and fuller utilisation of the countryUs producti;e resources. !n February $CC:, the State
-ank "as gi;en full autonomy, during the financial sector reforms.
#'%
*n >anuary &$, $CC8, this autonomy "as further strengthened "hen the go;ernment issued three
Amendment *rdinances ("hich "ere appro;ed by the <arliament in .ay $CC8). +hose included
"ere the State -ank of <akistan Act, $C5A, -anking 2ompanies *rdinance, $CA& and -anks
7ationaliBation Act, $C8:. +hese changes ga;e full and eLclusi;e authority to the State -ank to
regulate the banking sector, to conduct an independent monetary policy and to set limit on
go;ernment borro"ings from the State -ank of <akistan. +he amendments to the -anks
7ationaliBation Act brought the end of the <akistan -anking 2ouncil (an institution established
to look after the affairs of 72-s) and allo"ed the Qobs of the council to be appointed to the 2hief
(Lecuti;es, -oards of the 7ationaliBed 2ommercial -anks (72-s) and 1e;elopment Finance
!nstitutions (1F!s). +he State -ank ha;ing a role in their appointment and remo;al. +he
amendments also increased the autonomy and accountability of the chief eLecuti;es, the -oards
of 1irectors of banks and 1F!s.
+he State -ank of <akistan also performs both the traditional and de;elopmental functions to
achie;e macroeconomic goals. +he traditional functions, may be classified into t"o groups0 $)
+he primary functions including issue of notes, regulation and super;ision of the financial
system, bankersU bank, lender of the last resort, banker to Go;ernment, and conduct of monetary
policy. &) +he secondary functions including the agency functions like management of public
debt, management of foreign eLchange, etc., and other functions like ad;ising the go;ernment on
policy matters and maintaining close relationships "ith international financial institutions.
+he non,traditional or promotional functions, performed by the State -ank include de;elopment
of financial frame"ork, institutionaliBation of sa;ings and in;estment, pro;ision of training
facilities to bankers, and pro;ision of credit to priority sectors. +he State -ank also has been
playing an acti;e part in the process of islamiBation of the banking system.
+he -ank is acti;e in promoting financial inclusion policy and is a leading member of the
Alliance for Financial !nclusion. !t is also one of the original $8 regulatory institutions to make
specific national commitments to financial inclusion under the .aya 1eclaration
#:%
during the
&/$$ Global <olicy Forum held in .eLico.
.egulation of li6uidity
+he State -ank of <akistan has also been entrusted "ith the responsibility to carry out monetary
and credit policy in accordance "ith Go;ernment targets for gro"th and inflation "ith the
recommendations of the .onetary and Fiscal <olicies 2o,ordination -oard "ithout trying to
effect the macroeconomic policy obQecti;es.
+he state bank also regulates the ;olume and the direction of flo" of credit to different uses and
sectors, the state bank makes use of both direct and indirect instruments of monetary
management. 1uring the $C3/s, <akistan embarked upon a program of financial sector reforms,
"hich lead to a number of fundamental changes. 1ue to these changed the conduct of monetary
management "hich brought about changes to the administrati;e controls and Euantitati;e
restrictions to market based monetary management. A reser;e money management programme
has been de;eloped, for intermediate target of .&, that "ould be achie;ed by obser;ing the
desired path of reser;e money , the operating target.
State -ank of <akistan has changed the format and designs of many bank notes "hich are
currently in circulation in <akistan. +hese steps "ere taken to o;ercome the problems of
fraudulent acti;ities.
.eserve 1an5 of ndia
From Wikipedia, the free encyclopedia
Reserve Bank of India

;63 seal ;63 headquarters in
/um?ai
Headquarters
Shahid 6hagat Singh /arg /um?ai,
/aharashtra
Coordinates
)oordinates* 1&('+#,($% ,+&'#(''$E
Established April 1, 1('5 C,( years agoD
Governor ;aghuram ;aFan
Currency 3ndian ;upee
Reserves 0SG+(5!5 ?illion
819
Bank rate ("":
8+9
Interest on
reserves
!"":
!ebsite http*HH@@@r?iorginH
+he .eserve 1an5 of ndia (.1) is !ndiaKs central banking institution, "hich controls the
monetary policy of the !ndian rupee. !t "as established on $ April $C'5 during the -ritish @aQ in
accordance "ith the pro;isions of the @eser;e -ank of !ndia Act, $C':.
#'%
+he share capital "as
di;ided into shares of $// each fully paid, "hich "ere initially o"ned entirely by pri;ate
shareholders.
#:%
Follo"ing !ndiaKs independence in $C:8, the @-! "as nationalised in the year
$C:C.
+he @-! plays an important part in the de;elopment strategy of the Go;ernment of !ndia. !t is a
member bank of the Asian 2learing Union. +he general superintendence and direction of the
@-! is entrusted "ith the &$,member 2entral -oard of 1irectors0 the Go;ernor (currently 1r.
@aghuram @aQan), four 1eputy Go;ernors, t"o Finance .inistry representati;e, ten go;ernment,
nominated directors to represent important elements from !ndiaKs economy, and four directors to
represent local boards headEuartered at .umbai, Nolkata, 2hennai and 7e" 1elhi. (ach of these
local boards consists of fi;e members "ho represent regional interests, as "ell as the interests of
co,operati;e and indigenous banks.
+he bank is also acti;e in promoting financial inclusion policy and is a leading member of the
Alliance for Financial !nclusion (AF!).
Contents
1 History
o 11 1('5I1(5"
o 1+ 1(5"I1(#"
o 1' 1(#"I1(#(
o 1! 1(#(I1(&5
o 15 1(&5I1((1
o 1# 1((1I+"""
o 1, Since +"""
+ Structure
o +1 )entral 6oard of Jirectors
o ++ 5o>ernors
o +' Supporti>e ?odies
o +! 4ffices and ?ranches
' /ain functions
o '1 6ank of 3ssue
o '+ /onetary authority
o '' ;egulator and super>isor of the financial system
o '! /anagerial of eBchange control
o '5 3ssuer of currency
o '# 6anker of 6anks
! Jetection of Fake currency
o !1 Je>elopmental role
o !+ ;elated functions
5 2olicy rates and reser>e ratios
o 51 6ank ;ate
o 5+ ;eser>e requirement cash reser>e ratio C);;D
o 5' Statutory Liquidity ratio CSL;D
# 2u?lications
, Further reading
& %otes
( ;eferences
1" EBternal links
#istory
19351950
The old ;63 6uilding in %agpur
+he @eser;e -ank of !ndia "as founded on $ April $C'5 to respond to economic troubles after
the First World War.
#5%
+he bank "as set up based on the recommendations of the $C&A @oyal
2ommission on !ndian 2urrency and Finance, also kno"n as the ?iltonO9oung 2ommission.
#A%

+he original choice for the seal of @-! "as +he (ast !ndia 2ompany 1ouble .ohur, "ith the
sketch of the )ion and <alm +ree. ?o"e;er it "as decided to replace the lion "ith the tiger, the
national animal of !ndia. +he <reamble of the @-! describes its basic functions to regulate the
issue of bank notes, keep reser;es to secure monetary stability in !ndia, and generally to operate
the currency and credit system in the best interests of the country. +he 2entral *ffice of the @-!
initially established in 2alcutta (no" Nolkata), but "as permanently mo;ed to -ombay (no"
.umbai) in $C'8. +he @-! also acted as -urmaKs central bank, eLcept during the years of the
>apanese occupation of -urma ($C:&O:5), until April $C:8, e;en though -urma seceded from
the !ndian Union in $C'8. After the <artition of !ndia in $C:8, the -ank ser;ed as the central
bank for <akistan until >une $C:3 "hen the State -ank of <akistan commenced operations.
+hough originally set up as a shareholdersU bank, the @-! has been fully o"ned by the
Go;ernment of !ndia since its nationaliBation in $C:C.
#8%
19501960
!n the $C5/s the !ndian go;ernment, under its first <rime .inister >a"aharlal 7ehru, de;eloped a
centrally planned economic policy that focused on the agricultural sector. +he administration
nationaliBed commercial banks
#3%
and established, based on the -anking 2ompanies Act of $C:C
(later called the -anking @egulation Act), a central bank regulation as part of the @-!.
Furthermore, the central bank "as ordered to support the economic plan "ith loans.
#C%
19601969
As a result of bank crashes, the @-! "as reEuested to establish and monitor a deposit insurance
system. !t should restore the trust in the national bank system and "as initialiBed on 8 1ecember
$CA$. +he !ndian go;ernment founded funds to promote the economy and used the slogan
1e;eloping -anking. +he go;ernment of !ndia restructured the national bank market and
nationaliBed a lot of institutes. As a result, the @-! had to play the central part of control and
support of this public banking sector.
19691985
!n $CAC, the !ndira Gandhi,headed go;ernment nationaliBed $: maQor commercial banks. Upon
GandhiKs return to po"er in $C3/, a further siL banks "ere nationaliBed.
#A%
+he regulation of the
economy and especially the financial sector "as reinforced by the Go;ernment of !ndia in the
$C8/s and $C3/s.
#$/%
+he central bank became the central player and increased its policies for a
lot of tasks like interests, reser;e ratio and ;isible deposits.
#$$%
+hese measures aimed at better
economic de;elopment and had a huge effect on the company policy of the institutes. +he banks
lent money in selected sectors, like agri,business and small trade companies.
#$&%
+he branch "as forced to establish t"o ne" offices in the country for e;ery ne"ly established
office in a to"n.
#$'%
+he oil crises in $C8' resulted in increasing inflation, and the @-! restricted
monetary policy to reduce the effects.
#$:%
19851991
A lot of committees analysed the !ndian economy bet"een $C35 and $CC$. +heir results had an
effect on the @-!. +he oard for Industrial and Financial !econstruction, the Indira Gandhi
Institute of De5elopment !esearch and the 1ecurit( 6 7$change oard of India in;estigated the
national economy as a "hole, and the security and eLchange board proposed better methods for
more effecti;e markets and the protection of in;estor interests. +he !ndian financial market "as a
leading eLample for so,called financial repression (.ackinnon and Sha").
#$5%
+he Discount
and Finance 3ouse of India began its operations on the monetary market in April $C33J the
%ational 3ousing ank, founded in >uly $C33, "as forced to in;est in the property market and a
ne" financial la" impro;ed the ;ersatility of direct deposit by more security measures and
liberalisation.
#$A%
19912000
+he national economy came do"n in >uly $CC$ and the !ndian rupee "as de;alued.
#$8%
+he
currency lost $3F relati;e to the US dollar, and the %arsimham &ommittee ad;ised restructuring
the financial sector by a temporal reduced reser;e ratio as "ell as the statutory liEuidity ratio.
7e" guidelines "ere published in $CC' to establish a pri;ate banking sector. +his turning point
should reinforce the market and "as often called neo,liberal.
#$3%
+he central bank deregulated
bank interests and some sectors of the financial market like the trust and property markets.
#$C%

+his first phase "as a success and the central go;ernment forced a di;ersity liberalisation to
di;ersify o"ner structures in $CC3.
#&/%
+he 7ational Stock (Lchange of !ndia took the trade on in >une $CC: and the @-! allo"ed
nationaliBed banks in >uly to interact "ith the capital market to reinforce their capital base. +he
central bank founded a subsidiary companyMthe harati(a !eser5e ank %ote 'udran 0imited
Min February $CC5 to produce banknotes.
#&$%
Since 2000
+he Foreign 7$change 'anagement Act from $CCC came into force in >une &///. !t should
impro;e the item in &//:O&//5 (7ational (lectronic Fund +ransfer).
#&&%
+he 1ecurit( #rinting 6
'inting &orporation of India 0td8, a merger of nine institutions, "as founded in &//A and
produces banknotes and coins.
#&'%
+he national economyKs gro"th rate came do"n to 5.3F in the last Euarter of &//3O&//C
#&:%
and
the central bank promotes the economic de;elopment.
#&
1an5 of Napan
From Wikipedia, the free encyclopedia
Bank of "apan
#"apanese$
Logo Headquarters
Headquarters )huo, Tokyo, -apan
Coordinates
'5#&#1$% 1'(,,15$E
Established 1&&+
Governor Haruhiko 1uroda
Central bank of -apan
Currency -apanese yen
3S4 !+1, )ode -2<
Bank rate ":K"1":
!ebsite @@@?oForFp
%receded by First %ational 6ank
+he 1an5 of Napan ( %ippon Gink9
?
, 1ON, >AS1AV0 3'/$) is the central bank of
>apan.
#$%
+he -ank is often called %ichigin (
?
) for short. !t has its headEuarters in 2huo,
+okyo.
#&%
Contents
1 History
o 11 ;eorganiLation
+ /ission
' Location
! 5o>ernors
o !1 List of go>ernors
5 See also
# %otes
, ;eferences
& EBternal links
#istory
)ike most modern >apanese institutions, the -ank of >apan "as founded after the .eiQi
@estoration. <rior to the @estoration, >apanKs feudal fiefs all issued their o"n money, hansatsu, in
an array of incompatible denominations, but the %e: &urrenc( Act of .eiQi : ($38$) did a"ay
"ith these and established the yen as the ne" decimal currency, "hich had parity "ith the
.eLican sil;er dollar.
#'%
+he former han (fiefs) became prefectures and their mints became
pri;ate chartered banks "hich, ho"e;er, initially retained the right to print money. For a time
both the central go;ernment and these so,called national banks issued money. A period of
unanticipated conseEuences "as ended "hen the -ank of >apan "as founded in .eiQi $5 ($33&)
after a -elgian model. !t has since been partly pri;ately o"ned (its stock is traded o;er the
counter, hence the stock number).
#:%
A number of modifications based on other national banks
"ere encompassed "ithin the regulations under "hich the bank "as founded.
#5%
+he institution
"as gi;en a monopoly on controlling the money supply in $33:, but it "ould be another &/ years
before the pre;iously issued notes "ere retired.
#A%
Follo"ing the passage of the 2on;ertible -ank 7ote @egulations (.ay $33:), the -ank of >apan
issued its first banknotes in $335 ('ei;i -<). 1espite some small glitchesMfor eLample, it turned
out that the konnyaku po"der miLed in the paper to pre;ent counterfeiting made the bills a
delicacy for ratsMthe run "as largely successful. !n $3C8 >apan Qoined the gold standard
#8%
and in
$3CC the former national banknotes "ere formally phased out.
The 4saka ?ranch of the 6ank of -apan is seen in the top right of this 1('" aerial photograph
The @ide street in front of the ?ank is part of the /idoKSuFi
Since its .eiQi era beginnings, the -ank of >apan has operated continuously from main offices in
+okyo and *saka.
Reorganization
+he -*> "as reorganiBed in $C:&
#$%
under the -ank of >apan Act of $C:& ( $8
A8
?
). +here "as a brief post,"ar period during the *ccupation of >apan "hen the
bankKs functions "ere suspended, and military currency "as issued. !n $C:C, the bank "as again
restructured.
#$%
!n the $C8/s, the -ankKs operating en;ironment e;ol;ed along "ith the transition from a fiLed
foreign currency eLchange rate and a rather closed economy to a large open economy "ith a
;ariable eLchange rate.
#3%
1uring the entire post,"ar era, until at least $CC$, the -ank of >apanKs monetary policy has
primarily been conducted ;ia its K"indo" guidanceK ( credit controls ("hich are the
model for the 2hinese central bankKs primary tool of monetary policy implementation), "hereby
the central bank "ould impose bank credit gro"th Euotas on the commercial banks. +he tool "as
instrumental in the creation of the Kbubble economyK of the $C3/s. !t "as implemented by the
-ank of >apanKs then K-usiness 1epartmentK (, "hich "as headed during the Kbubble
yearsK from $C3A to $C3C by +oshihiko Fukui ("ho became deputy go;ernor in the $CC/s and
go;ernor in &//').
#C%
A maQor $CC8 re;ision of the ank of 4apan Act (Qp0 ) "as designed to gi;e it greater
independenceJ
#$/%
ho"e;er, the -ank of >apan has been criticiBed for already possessing
eLcessi;e independence and lacking in accountability before this la" "as promulgated.
#$$%
A
certain degree of dependence might be said to be enshrined in the ne" )a", article : of "hich
states0
In recognition of the fact that currency and monetary control is a component of overall
economic policy, the Bank of Japan shall always maintain close contact with the
government and exchange views sufficiently, so that its currency and monetary control
and the basic stance of the government's economic policy shall be mutually harmonious.
?o"e;er, since the introduction of the ne" la", the -ank of >apan has persistently rebuffed
go;ernment reEuests to stimulate the economy.
#$&%
Follo"ing the election of <rime .inister ShinBn Abe, the -ank of >apan has, "ith AbeKs urging,
taken proacti;e steps to curb deflation in >apan. *n *ctober '/, &/$&, +he -ank of >apan
announced that it has undertaken further monetary,easing action for the second time in a month.
#$'%
Under the leadership of ne" Go;ernor ?aruhiko Nuroda, the -ank of >apan released a
statement on April 5, &/$' announcing that it "ould be purchasing securities and bonds at a rate
of A/,8/ trillion yen a year in an attempt to double >apanKs money supply in t"o years.
#$:%
Mission
The place of the foundation of the 6ank of -apan
According to its charter, the missions of the -ank of >apan are
3ssuance and management of ?anknotes
3mplementation of monetary policy
2ro>iding settlement ser>ices and ensuring the sta?ility of the financial system
Treasury and go>ernment securitiesKrelated operations
3nternational acti>ities
)ompilation of data, economic analyses and research acti>ities
Location
The 6ank of -apan 4saka 6ranch
+he -ank of >apan is headEuartered in 7ihonbashi, +okyo, on the site of a former gold mint (the
NinBa) and, not coincidentally, near the famous GinBa district, "hose name means sil;er mint.
+he 7eo,baroEue -ank of >apan building in +okyo "as designed by +atsuno Ningo in $3CA.
+he *saka branch in 7akanoshima is sometimes considered as the structure "hich effecti;ely
symboliBes the bank as an institution.
.eserve 1an5 of Australia
From Wikipedia, the free encyclopedia
.eserve 1an5 of Australia
@eser;e -ank of Australia
logo
@-A headEuarters, A5 .artin <lace,
Sydney
#ead6uarters Sydney, 7e" South Wales, Australia
Coordinates
''.3A3/3A4S $5$.&$$8:C4( 2oordinates 0
''.3A3/3A4S $5$.&$$8:C4(
+sta7lished $CA/
Governor Glenn Ste;ens
Central 7an5 of Australia
Currency Australian dollar
!S* :&$8 2ode AU1
.eserve
re6uirements
7one
nterest rate
target
&.5F
#$%
-e7site """.rba.go;.au
+he .eserve 1an5 of Australia, a state,o"ned bank, came into being on $: >anuary $CA/ as
AustraliaKs central bank and banknote issuing authority, "hen the @eser;e -ank Act $C5C
remo;ed the central banking functions from the 2ommon"ealth -ank.
#&%
+he bank has the responsibility of pro;iding ser;ices to the Go;ernment of Australia in addition
to also pro;iding ser;ices to other central banks and official institutions.
#'%
!t currently consists of
the <ayments System -oard, "hich go;erns the payments system policy of the bank, and the
@eser;e -ank -oard, "hich go;erns all other monetary and banking policies of the bank.
#:%
-oth boards consist of members of both the bank, the +reasury, other Australian go;ernment
agencies, and leaders of other institutions that are part of the economy.
#:%#5%
+he structure of the
@eser;e -ank -oard has remained consistent e;er since $C5$, "ith the eLception of the change
in the number of members of the board.
#&%
+he go;ernor of the @eser;e -ank of Australia is
appointed by the +reasurer and chairs both the <ayment Systems and @eser;e -ank -oards and
"hen there are disagreements bet"een both boards, the go;ernor resol;es them.
#:%#A%
From the middle of the $Cth century into the $3C/s, the prospects of a national bank forming
gre". !n $C$$, the 2ommon"ealth -ank "as established, but did not ha;e the authority to print
notes, "hich "as a po"er that "as still reser;ed to the +reasury. A mo;ement to"ard
reestablishing the gold standard occurred after World War !, "ith >ohn Gar;an leading ;arious
boards in contracting the money supply on the route to doing so, and the gold standard "as
instituted for both the -ritish pound sterling and the Australian pound in $C&5.
#8%
1uring the Great 1epression, the Australian pound became de;alued, no longer "orth the pound
sterling, and formally departed from the gold standard "ith the 2ommon"ealth -ank Act of
$C'&.
#3%
)egislation in $C:5 led to regulation of pri;ate banks "hich ?.2. 2oombs "as opposed
to, and "hen he became Go;ernor in $C:C, he ga;e them more o;erall control o;er their
institutions.
#&%#8%
When the monetary authorities implemented the ad;ice of 2oombs to ha;e a
fleLible interest rate, it allo"ed the bank to rely more on open market operations.
#8%
+he float of the Australian dollar happened in $C3', around the same period of time that the
financial system in Australia "as deregulated. Administration of the banks "as transferred in
$CC3 from the bank to the Australian <rudential @egulation Authority and the <ayments System
-oard "as created, "hile the bank "as gi;en po"er "ithin the said -oard in the same year.
#&%

+he current Go;ernor of the @eser;e -ank is Glenn Ste;ens, "ho has been the incumbent since
$3 September &//A.
#C%
Contents
$ ?istory (.id $Cth centuryO$C&:)
& ?istory ($C&:Opresent)
' @oles and responsibilities
: @eser;e -ank -oard
5 <ayments System -oard and the A222
A Go;ernors and their roles
o A.$ Ney
o A.& Go;ernors
8 See also
3 7otes
C @eferences
$/ (Lternal links
#istory 8Mid 'Jth centuryO'JPK:
<rime .inister Andre" Fisher, "hose go;ernment created a commercial bank o"ned by the
go;ernment, but not a central bank.
+he proposition of a national bank in Australia began to be raised in the middle of the $Cth
century. +his interest accelerated significantly in the $3C/s due to an austere collapse of the
financial and banking sectors at the beginning of that decade. +he Australian )abor <arty
conseEuently formed during the same decade and proposed a bank should be formed, "hich
"ould be a protected and cheap "ay of ha;ing financial ser;ices. +he party designed a platform
in $C/3 for a 2ommon"ealth -ank, "hich "ould be a combination of both a commercial and
central bank.
#8%
@egardless, FisherKs )abor go;ernment introduced legislation in $C$$ for merely a go;ernment,
o"ned commercial bank, "ithout a complete central banking component. ?e stated that +ime
and eLperience "ill sho" ho" its functions for usefulness may be eLtended #to"ards central
banking%. +he only function at the time that made the bank characteristic of a central one "as
that it "as the banker to the Australian go;ernment, in addition to it being the same for the states.
For the time being, the +reasury of Australia maintained the role of issuing bank notes through
the 7otes Act of $C$/.
#8%
A7- -oard member >ohn Gar;an led the mo;ement to"ard reestablishing the gold standard.
+he 2ommon"ealth -ank of Australia gradually de;eloped into the central bank of Australia. !n
response to the disruption of trade during World War ! ($C$:O$C$3) the 2ommon"ealth -ank
began to manage the debt of the Australian go;ernment. 7e;ertheless, at the end of the "ar, the
bank continued to ha;e a primary role as a sa;ings and trading bank. World War ! had caused the
currency of Australia to mo;e a"ay from the gold standard, in order to fund a great increase of
go;ernment spending, as did the United Ningdom and other parts of the -ritish (mpire.
+he ;alue of the Australian pound remained tied to the pound sterling. !nflation in Australia thus
increased, less than in -ritain, but more than in the United States. +he case for a central bank
"as increased by the need for the go;ernment to cut spending after the "ar to reduce its debt.
2ommon"ealth -ank Go;ernor 1enison .iller had been arguing for the issue of Australian
currency to be s"itched from the treasury to the bank, as it had more staff and more monetary
kno"ledge.
#8%
+he Australian 7otes -oard (A7-) "as created in $C&/ and partially acceded to the reEuest of
.iller, in ha;ing four directors, "ith the go;ernor of the bank being an e$ officio member.
#&%
+he
A7- began to follo" a policy of -oard member >ohn Gar;an, in contracting the money supply,
"ith the goal of reducing prices so that free con;ertibility of the Australian pound to gold could
be re,established at pre,"ar rates, that is return to the former gold standard.
+his "as accomplished by refusing the eLchange of notes for gold and it "as hoped that this
"ould lo"er domestic prices and raise the eLchange rate for the Australian pound. When gold
arri;ed from 7e" 9ork, U.S.A the go;ernment sold securities in order to diminish the effect of
monetary eLpansion, therefore eLecuting the first open market operations in the history of
Australia and thus the first attempt of central banking.
#8%
#istory 8'JPKOpresent:
+he 1epartment of +reasury issued notes until $C&:, "hen this responsibility "as transferred to
the 2ommon"ealth -ank.
#&%
+he A7- "as abolished through amendments to the 2ommon"ealth
-ank Act in $C&:, due to +reasurer and 2ountry <arty )eader (arle <age "anting to end the
monetary contraction "hich particularly hurt his farming constituents, "ho "ere as a result
recei;ing reduced eLport prices.
#8%
+he ne" -oard of 1irectors replacing it,
#&%
"hich "as
composed of ;arious areas of the industry, soon appointed Gar;an chairman, and thus he
continued his policies. !n $C&5, both the pound sterling and Australian pound returned to the pre,
"ar gold standard. +he primary role of the 2ommon"ealth -ank continued to be a sa;ings and
trading bank, e;en though the go;ernment attempted to make the bank into a central one through
its actions in $C&:.
#8%
)egislation "as introduced to the <arliament at the climaL of the Great 1epression, in .ay $C'/,
by +reasurer (.G. +heodore, "hich "ould remo;e central banking po"ers from the
2ommon"ealth -ank into a ne" central bank, but this failed.
#8%
+he Australian pound became
de;alued in $C'$ and it "as no longer "orth a pound sterling. +he @eser;e -ank departed from
the gold standard "ith the 2ommon"ealth -ank Act of $C'&, "hich made the notes no longer
eLchangeable into gold and allo"ed the bank not to keep any gold reser;es.
#3%
+he monetary
policy of the bank from $C'$ until the early $C8/s had been to keep a stable eLchange rate "ith
the pound sterling.
#8%
+hrough the ne" 2ommon"ealth -ank Act and the -anking Act in $C:5, the board "as replaced
by a siL,member council, fully consisting of bank and treasury officials. !t additionally
formalised the bankKs administrati;e po"ers of monetary and banking policy and eLchange
control and also stated the go;ernor "as responsible for managing the bank.
#&%
?ighly debated
legislation in $C:5 caused high amounts of regulation on pri;ate banks, "hich later,Go;ernor
?.2. 2oombs "as opposed to, along "ith his opposition to bank nationalisation in $C:8.
#8%
When
he became go;ernor in $C:C, he allo"ed the pri;ate banks to ha;e more control o;er their
liEuidity and attempted to introduce market,based monetary policy.
#&%#8%
?e also "arned of the
possibility of stagflation in $C5C.
#8%
Former +reasurer Wayne S"an (pictured) issued a Qoint 1tatement in 1ecember &//8 "ith
Go;ernor Glenn Ste;ens.
)egislation in $C5$, remo;ing the council, established another then $/,member board "hich
consisted of go;ernor, deputy go;ernor and the secretary to the treasury. +his board took on the
Qob of managing the bank from the go;ernor. .any years later, the @eser;e -ank Act $C5C took
out the part of the 2ommon"ealth -ank that eLecuted central banking and placed it into the ne"
@eser;e -ank of Australia, "hile the commercial and sa;ings bank functions stayed "ith the
2ommon"ealth -ank.
#&%
+his finally created a separate central bank for Australia in $C5C, "hich
took effect $: >anuary $CA/, many years after se;eral other nations already had one and similar
to the early proposal by +reasurer +heodore.
#&%#8%
!n the mid,$CA/s, monetary authorities accepted 2oombsK conclusions and allo"ed a fleLible
interest rate, making it easier for the bank to rely on open market operations.
#8%
+he (Lchange
2ontrol "as abolished after the float of the Australian dollar occurred in $C3'. !n the fi;e years
after the 2ampbell 2ommittee probe, $C8CO$C3:, the financial system in Australia became
deregulated. Another probe "as the Wallis 2ommittee in $CCA, "hich took effect in $CC3. +he
effects "ere the transfer of o;erseeing the banks from the @-A to the Australian <rudential
@egulation Authority (A<@A) and the creation of the <ayments System -oard (<S-), "hich
"ould attempt to maintain the safety and performance of the payments system. +he bank "as
gi;en po"ers "ithin the <S- through additional legislation in $CC3.
#&%
!n August $CCA, then Go;ernor,designate !an .acfarlane and the +reasurer issued a 1tatement
on the &onduct of 'onetar( #olic( "hich restated the roles of the @eser;e -ank and the
Go;ernment of Australia. !t affirmed go;ernment endorsement of the @eser;e -ankKs inflation
obQecti;e, "hich "as introduced in $CC'. A change of go;ernment in 1ecember &//8 led to
another 1tatement, "hich "as issued by both former +reasurer Wayne S"an and @eser;e -ank
Go;ernor Glenn Ste;ens. +his amends pre;ious statements by gi;ing the bank independence and
encourages transparency and communication.
#&%
Since &//8, the @-AKs outstanding reputation has been affected by the KSecurencyK or 7<A
scandal. +hese @-A subsidiaries "ere in;ol;ed in bribing o;erseas officials so that Australia
might "in lucrati;e note,printing contracts. Australian press co;erage, "hich has continued into
late &/$$, reflects concerns "ith the apparent laLity and tardiness of correcti;e actions
undertaken by rele;ant @-A board members and officials. +he matters "ere not referred to the
Federal <olice in &//8, although they are no", "hile in &/$$ it has been re;ealed that the @-A
had to correct e;idence gi;en to <arliamentary committees.
S9iss National 1an5
From Wikipedia, the free encyclopedia
&'iss (ational Bank
Schweizerische Nationalbank #German$
Banque Nationale Suisse 82rench:
Banca Nazionale Svizzera 8talian:
Banca Naziunala Svizra 8.omansh:
Logo Headquarters
Headquarters 6ern and Murich
Established 1(",
Chairman Thomas -ordan
Central bank of S@itLerland
Currency S@iss Franc
3S4 !+1, )ode )HF
!ebsite @@@sn?ch
+he S9iss National 1an5 (SN1) is the central bank of S"itBerland. !t is responsible for S"iss
monetary policy and for issuing S"iss franc banknotes.
+he names of the institution in the four official languages of the country are0 German0
1ch:eizerische %ationalbankJ French0 an=ue %ationale 1uisseJ !talian0 anca %azionale
15izzeraJ @omansh0 anca %aziunala 15izra.
+he S7- is an aktiengesellschaft under special regulations. About 55F of its shares are o"ned
by public institutions like cantons and cantonal banks. +he remaining shares are traded on the
stock market. +hey are mostly o"ned by pri;ate indi;iduals. +he S"iss 7ational -ank has t"o
head offices, one is in -ern and the other one in [urich.
Contents
1 Tasks
o 11 /onetary policy
o 1+ )ash supply and distri?ution
o 1' )ashless payment transactions
o 1! 3n>estment of currency reser>es
o 15 Financial system sta?ility
o 1# 3nternational monetary cooperation
o 1, 6anker to the )onfederation
o 1& Statistics
+ /onetary policy
' 5eneral /eeting of Shareholders
! 6ank )ouncil
5 5o>erning 6oard
# 5old reser>es
, World War 33 contro>ersy
& %otes and references
( See also
1" EBternal links
$as5s
Monetary policy
+he S"iss 7ational -ank conducts the countryUs monetary policy as an independent central
bank. !t is obliged by 2onstitution and statute to act in accordance "ith the interests of the
country as a "hole. !ts primary goal is to ensure price stability, "hile taking due account of
economic de;elopments. !n so doing, it creates an appropriate en;ironment for economic gro"th.
Cash supply an istri!ution
+he 7ational -ank is entrusted "ith the note,issuing pri;ilege. !t supplies the economy "ith
banknotes that meet high standards "ith respect to Euality and security. !t is also charged by the
2onfederation "ith the task of coin distribution.
Cashless pay"ent transactions
!n the field of cashless payment transactions, the 7ational -ank pro;ides ser;ices for payments
bet"een banks. +hese are settled in the S"iss !nterbank 2learing (S!2) system ;ia sight deposit
accounts held "ith the 7ational -ank.
#n$est"ent o% currency reser$es
+he 7ational -ank manages currency reser;es. +hese engender confidence in the S"iss franc,
help to pre;ent and o;ercome crises and may be utiliBed for inter;entions in the foreign
eLchange market.
&inancial syste" sta!ility
+he 7ational -ank contributes to the stability of the financial system. Within the conteLt of this
task, it analyses sources of risk to the financial system, o;ersees systemically important payment
and securities settlement systems and helps to promote an operational en;ironment for the
financial sector.
#nternational "onetary cooperation
+ogether "ith the federal authorities, the 7ational -ank participates in international monetary
cooperation and pro;ides technical assistance.
'an(er to the Con%eeration
+he 7ational -ank acts as banker to the S"iss 2onfederation. !t processes payments on behalf of
the 2onfederation, issues money market debt register claims and bonds, handles the safekeeping
of securities and carries out money market and foreign eLchange transactions.
Statistics
+he 7ational -ank compiles statistical data on banks and financial markets, the balance of
payments, the international in;estment position and the S"iss financial accounts.
Monetary policy
+he S7- pursues a monetary policy ser;ing the interests of the country as a "hole. !t must
ensure price stability, "hile taking due account of economic de;elopments. .onetary policy
affects production and prices "ith a considerable time lag. 2onseEuently, it is based on inflation
forecasts rather than current inflation. +he S7-Us monetary policy strategy consists of three
elements0 a definition of price stability (the S7- eEuates price stability "ith a rise in the national
consumer price indeL of less than &F per year), a medium,term conditional inflation forecast,
and, at operational le;el, a target range for a reference interest rate, "hich is the )ibor for three,
month in;estments in S"iss francs.