Sunday, January 12, 2014

CENTRAL BANKS




1. Federal Reserve (FED), (USA) 

The Federal Reserve System is the central banking system of the United States. It was created in 1913 by the enactment of the Federal Reserve Act, largely as a response to a series of financial panics or bank runs, particularly a severe panic in 1907. Over time, the roles and responsibilities of the Federal Reserve System have expanded and its structure has evolved.

Chairman: Janet L. Yellen

Current Voting Members: William C. Dudley, James Bullard, Elizabeth A. Duke, Charles L. Evans, Esther L. George, Jerome H. Powell, Sarah Bloom Raskin, Eric S. Rosengren, Jeremy C. Stein, Daniel K. Tarullo.



2. European Central Bank (ECB), (Europe)

The European Central Bank (ECB) is one of the world's most important central banks, responsible for monetary policy covering the 16 member States of the Eurozone. It was established by the European Union (EU) in 1998 with its headquarters in Frankfurt, Germany.
President: Mario Draghi.

Current Voting Members: Mario Draghi, Vítor Constâncio, Jörg Asmussen, Benoît Cœuré, Yves Mersch, Peter Praet, Luc Coene, Jens Weidmann, Patrick Honohan, George A. Provopoulos, Luis María Linde, Ardo Hansson, Christian Noyer, Ignazio Visco, Panicos Demetriades, Gaston Reinesch, Josef Bonnici, Klaas Knot, Ewald Nowotny, Carlos Costa, Marko Kranjec, Jozef Makúch, Erkki Liikanen.


3. Bank of England (BOE) (UK)

The Bank of England is, despite its name, the central bank of the whole of the United Kingdom and is the model on which most modern, large central banks have been based. It was established in 1694 to act as the English Government's banker, and to this day it still acts as the banker for the UK Government.

Chairman: Mark Carney

Current Voting Members: Charles Bean, Dr Ben Broadbent, Paul Fisher, Prof. David Miles, Dr. Adam Posen, Spencer Dale, Dr. Martin Weale, Paul Tucker, Ian McCafferty.


4. Swiss National Bank (SNB), (Switzerland)

The Swiss National Bank (SNB) is the central bank of Switzerland. It is responsible for Swiss monetary policy and for issuing Swiss franc banknotes. The SNB is an Aktiengesellschaft under special regulations. About 55% of its shares are owned by public institutions like cantons and cantonal banks. The remaining shares are traded on the stock market. They are mostly owned by private individuals.

Chairman: Thomas Jordan

Current Voting Members: Thomas J. Jordan, Jean-Pierre Danthine, Fritz Zurbrügg.


5. Reserve Bank of Australia (RBA), (Australia)

The Reserve Bank of Australia came into being on 14 January 1960 as Australia's central bank and banknote issuing authority, when the Reserve Bank Act 1959 removed the central banking functions from the Commonwealth Bank to it. The Bank has the responsibility of providing services to the Government of Australia, which the profits of the Bank are transferred back to, in addition to also providing services to other central banks and official institutions.

Chairman: Glenn Stevens

Current Voting Members: Glenn Stevens, Philip Lowe, Martin Parkinson PSM, John Akehurst, Roger Corbett AO, John Edwards, Heather Ridout AO, Catherine Tanna, Kathryn Fagg.


6. Bank of Canada (BOC), (Canada)

The Bank of Canada (in French: Banque du Canada) is Canada's central bank. It was created by the Bank of Canada Act of 1934, to "promote the economic and financial well-being of Canada." It is the sole issuer of banknotes in Canada, and the central bank for the Canadian dollar. The bank's headquarters are located in the Bank of Canada Building at the corner of Wellington and Bank Streets in downtown Ottawa.

Chairman: Stephen S. Poloz

Current Voting Members: Stephen S. Poloz, Tiff Macklem, William Black, Phyllis Clark, Philip Deck, Douglas Emsley, Jock Finlayson, Brian Henley, Daniel Johnson, Claire M. C. Kennedy, Derek D. Key, David Laidley, Leo Ledohowski, Richard McGaw.


7. Reserve Bank of New Zealand (RBNZ), (New Zealand)  

The Reserve Bank of New Zealand is the central bank of New Zealand and is constituted under the Reserve Bank of New Zealand Act 1989. The Governor of the Reserve Bank is responsible for New Zealand's currency and operating monetary policy. Employees of the bank operate under the framework of a managerial hierarchy.

Chairman: Graeme Wheeler

Current Voting Members: Dr Rod Carr, Dr Chris Eichbaum, Dr Arthur Grimes, Professor Neil Quigley, Ms Sue Sheldon, Mr Keith Taylor, Ms Kerrin Vautier.


8. Bank of Japan (BOJ), (Japan)

The Bank of Japan is the central bank of Japan. The Bank is often called Nichigin for short.The Bank of Japan is headquartered in Nihonbashi, Tokyo, on the site of a former gold mint (the Kinza) and, not coincidentally, near the famous Ginza district, whose name means "silver mint".

Chairman: Haruhiko Kuroda

Current Voting Members: Kikuo Iwata, Hiroshi Nakaso, Ryuzo Miyao, Yoshihisa Morimoto, Sayuri Shirai, Koji Ishida, Takehiro Sato, Takahide Kiuchi.

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