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) #$%#&%#'% ( 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 #b%
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 (&/$$) :8.8 #8% high " 'Cth (&//C) #D (&/$') /.C'8 #3% ;ery high " 'rd Currency United States dollar (G) (USD) $ime %one (U+2H5 to H$/) , Summer (1S+) (U+2H: to H$/ #e% ) Drives on the right #g% Calling code I$ SO &'(( code US nternet $LD .us .go; .mil .edu a. ) (nglish is the official language of at least &3 statesJ some sources gi;e higher figures, based on differing definitions of official. #C% (nglish and ?a"aiian are both official languages in the state of ?a"aii. b. ) (nglish is the de facto language of American go;ernment and the sole language spoken at home by 3/ percent of Americans aged fi;e and older. Spanish is the second most commonly spoken language. c. ) Whether the United States or 2hina is larger has been disputed. +he figure gi;en is from the U.S. 2entral !ntelligence AgencyKs The World Factbook. *ther sources gi;e smaller figures. All authoritati;e calculations of the countryKs siBe include only the 5/ states and the 1istrict of 2olumbia, not the territories. d. ) +he population estimate is of people "hose usual residence is "ithin the 5/ states and the 1istrict of 2olumbia, regardless of nationality. !t does not include those li;ing in the territories (o;er : million people, mostly in <uerto @ico). e. ) See +ime in the United States for details about la"s go;erning time Bones in the United States. f. ) 1oes not include insular areas and United States .inor *utlying !slands, "hich ha;e their o"n !S* '$AA codes. g. ) (Lcept U.S. =irgin !slands. +he United States of America (USA)Mcommonly referred to as the United States (U*S*), America or simply the StatesMis a federal republic #$/%
#$$% 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 '$8 million people, the United States is the fourth,largest country by total area and third largest by population. !t is one of the "orldKs most ethnically di;erse and multicultural nations, the product of large,scale immigration from many countries. #$&% +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 $83' "ith the recognition of independence of the United States from the Ningdom of Great -ritain, and "as the first successful "ar of independence against a (uropean colonial empire. #$:%#$5% +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 $Cth century. #$A% +his in;ol;ed displacing nati;e tribes, acEuiring ne" territories, and gradually admitting ne" states. #$A% +he American 2i;il War ended legal sla;ery in the country. #$8% -y the end of the $Cth century, the United States eLtended into the <acific *cean, #$3% and its economy "as the "orldKs largest. #$C% +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 $CF at purchasing, po"er parity. #A%#&/% +he economy is fueled by an abundance of natural resources and the "orldKs highest "orker producti;ity, #&$% "ith per capita G1< being the "orldKs siLth,highest in &/$/. #A%
While the U.S. economy is considered post,industrial, it continues to be one of the "orldKs largest manufacturers. #&&% +he U.S. has the highest mean and second,highest median household income in the *(21 as "ell as the highest a;erage "age, #&'%#&:% though it has the fourth most uneEual income distribution among *(21 nations #&5%#&A% "ith roughly $AF of the population li;ing in po;erty. #&8% +he country accounts for 'CF of global military spending, #&3% being the "orldKs foremost economic and military po"er, a prominent political and cultural force, and a leader in scientific research and technological inno;ation. #&C%#'/%#'$%#'&%#''% 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). #':% +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. #'5% +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. #'A%#'8% !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. #'3%#'C% !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. #:/% !n $888 the Articles of 2onfederation announced, +he Stile of this 2onfederacy shall be K+he United States of AmericaK. #:$% +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, #:&% 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. #:'% +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. #::% +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. #:5% +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. #:A% #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. #$'%#:8% 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, #:3%#:C% intermarriage, #5/% and ;iolence. #5$%#5&%#5'% !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. #5:% 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. #55% 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. #5A%#58% 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. #53%#5C% +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. #A/% +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. #A$%#A&% +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. #A'% 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. #A:% 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. #A5%#AA%#A8%
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. #A3%#AC% -ut by the turn of the $3th century, African sla;es "ere replacing indentured ser;ants for cash crop labor, especially in southern regions. #8/% With the $8'& coloniBation of Georgia, the $' colonies that "ould become the United States of America "ere established. #8$% 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. #8&% 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. #8'% +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. #8:% +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. #85% +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. #8A% -ritain recogniBed the independence of the United States follo"ing their defeat at 9orkto"n. #88%
!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$. #83% 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, #3&% in the South, .ethodists and -aptists proselytiBed among sla;e populations. #3'% AmericansK eagerness to eLpand "est"ard prompted a long series of !ndian Wars. #3:% +he )ouisiana <urchase of French,claimed territory in $3/' almost doubled the nationKs siBe. #35% +he War of $3$&, declared against -ritain o;er ;arious grie;ances and fought to a dra", strengthened U.S. nationalism. #3A% A series of U.S. military incursions into Florida led Spain to cede it and other Gulf 2oast territory in $3$C. #38% (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. #33% 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. #3C% +he $3:A *regon +reaty "ith -ritain led to U.S. control of the present,day American 7orth"est. #C/% =ictory in the .eLican,American War resulted in the $3:3 .eLican 2ession of 2alifornia and much of the present,day American South"est. #C$% +he 2alifornia Gold @ush of $3:3O:C spurred "estern migration and the creation of additional "estern states. #C&% 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. #C'%
*;er a half,century, the loss of the buffalo "as an eListential blo" to many <lains !ndians cultures. #C:% !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. #C5% 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. #CA% !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. #C8% 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. #C8% +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. #C3% 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 #CC% U.S. citiBens, and promised them ;oting rights. +he "ar and its resolution led to a substantial increase in federal po"er #$//% aimed at reintegrating and rebuilding the Southern states "hile ensuring the rights of the ne"ly freed sla;es. #$/$% -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. #$/$% 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. #$/&% 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. #$/'% +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. #$/:%
+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. #$/5% !n $C&/, the "omenKs rights mo;ement "on passage of a constitutional amendment granting "omenKs suffrage. #$/A% +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. #$/3% +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%#$$C% A proLy "ar "as eLpanded in Southeast Asia "ith the =ietnam War. .ean"hile, a counterculture mo;ement gre" "hich "as fueled by opposition to the "ar, black nationalism, and the seLual re;olution. +he launch of a War on <o;erty eLpanded entitlement and "elfare spending. #$&/% +he $C8/s and early $C3/s sa" the onset of stagflation. After his election in $C3/, <resident @onald @eagan responded to economic stagnation "ith free market oriented reforms, and transitioned from a foreign policy of containment of So;iet influence to a more aggressi;e rollback strategy. #$&$%#$&&%#$&'%#$&:%#$&5% After a surge in female labor participation o;er the pre;ious decade, by $C35 a maQority of "omen age $A and o;er "ere employed. #$&A% +he late $C3/s brought a tha" in relations "ith the USS@, and its collapse in $CC$ finally ended the 2old War. #$&8%#$&3%#$&C%#$'/% United 0ingdom From Wikipedia, the free encyclopedia +his article is about the so;ereign state. For the island, see Great -ritain. For other uses, see United Ningdom (disambiguation) and UN (disambiguation). United 0ingdom of Great 1ritain and Northern reland Flag @oyal coat of arms #nb $%
Anthem: God Sa;e the Vueen #$%#nb &% .enu /0// )ocation of the United Ningdom (dark green) O in (urope (green T dark grey) O in the (uropean Union (green) Capital and largest city )ondon 5$4'/67 /486W Official languages (nglish #&%
+thnic groups (&/$$ #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'(,,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.