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Czech National Bank
The Czech National Bank, ( cs, Česká národní banka, ČNB) is the central bank and financial market supervisor in the Czech Republic, headquartered in Prague. It is and a member of the European System of Central Banks. It was established on from the division of the State Bank of Czechoslovakia as part of the process of dissolution of Czechoslovakia, together with the National Bank of Slovakia. In accordance with its primary objective, the CNB sets monetary policy, issues banknotes and coins and manages the circulation of the Czech koruna, the payment system and settlement between banks. It also performs supervision of the banking sector, the capital market, the insurance industry, pension funds, credit unions and electronic money institutions, as well as foreign exchange supervision. Overview of the Czech National Bank Mission The primary objective of CNB as stated in the Act on the Czech National Bank and the Constitution of the Czech Republic is price stability. The ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
ČNB V Brně II
The Czech National Bank, ( cs, Česká národní banka, ČNB) is the central bank and financial market supervisor in the Czech Republic, headquartered in Prague. It is and a member of the European System of Central Banks. It was established on from the division of the State Bank of Czechoslovakia as part of the process of dissolution of Czechoslovakia, together with the National Bank of Slovakia. In accordance with its primary objective, the CNB sets monetary policy, issues banknotes and coins and manages the circulation of the Czech koruna, the payment system and settlement between banks. It also performs supervision of the banking sector, the capital market, the insurance industry, pension funds, credit unions and electronic money institutions, as well as foreign exchange supervision. Overview of the Czech National Bank Mission The primary objective of CNB as stated in the Act on the Czech National Bank and the Constitution of the Czech Republic is price stability. The ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Prague
Prague ( ; cs, Praha ; german: Prag, ; la, Praga) is the capital and largest city in the Czech Republic, and the historical capital of Bohemia. On the Vltava river, Prague is home to about 1.3 million people. The city has a temperate oceanic climate, with relatively warm summers and chilly winters. Prague is a political, cultural, and economic hub of central Europe, with a rich history and Romanesque, Gothic, Renaissance and Baroque architectures. It was the capital of the Kingdom of Bohemia and residence of several Holy Roman Emperors, most notably Charles IV (r. 1346–1378). It was an important city to the Habsburg monarchy and Austro-Hungarian Empire. The city played major roles in the Bohemian and the Protestant Reformations, the Thirty Years' War and in 20th-century history as the capital of Czechoslovakia between the World Wars and the post-war Communist era. Prague is home to a number of well-known cultural attractions, many of which survived the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
National Bank Of Slovakia
National Bank of Slovakia ( sk, Národná banka Slovenska, NBS), is the central bank of Slovakia, a member state of the European Union since 2004 and of the euro area since 2009. It was formed on from the division of the State Bank of Czechoslovakia as part of the process of dissolution of Czechoslovakia, together with the Czech National Bank. In addition to its headquarters in Bratislava, the National Bank has 5 regional offices. The National Bank is an independent institution, whose main goal is to hold price stability. On the basis of authority bestowed upon the bank by the Slovak Government, the Bank represents Slovakia in international financial institutions and in international money market transactions related to monetary policy performance. As of late 2022, the governor of the National Bank was Peter Kažimír, who took up the post on 1 June 2019.Slovak Spectator (13 March 2019)Kažimír appointed as new governor of Slovakia's central bank''Slovak Spectator''. Or ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Josef Tošovský
Josef Tošovský () (born 28 September 1950) is a Czech economist and former governor of Czech National Bank (from 1993 to 2000). From 17 December 1997 to 22 July 1998 he was the prime minister of the Czech Republic in a caretaker government. Career Tošovský studied international trade at the University of Economics, Prague from 1968 to 1973. After graduating, he was employed by the State Bank of Czechoslovakia, where he held a number of posts, including adviser to the chairman. He also worked in London during the 1980s at the branch office of Zivnostenska Banka. In 1989, he was appointed Governor of the State Bank. Following the split of the Czech and Slovak Federal Republic and the establishment of the Czech National Bank, he was appointed Governor of the Czech National Bank on 20 January 1993. As Governor, Tošovský participated in drawing up the blueprint for economic reform and in implementing it in the monetary and banking areas. He took a leading part in drafting the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Repurchase Agreement
A repurchase agreement, also known as a repo, RP, or sale and repurchase agreement, is a form of short-term borrowing, mainly in government securities. The dealer sells the underlying security to investors and, by agreement between the two parties, buys them back shortly afterwards, usually the following day, at a slightly higher price. The repo market is an important source of funds for large financial institutions in the non-depository banking sector, which has grown to rival the traditional depository banking sector in size. Large institutional investors such as money market mutual funds lend money to financial institutions such as investment banks, either in exchange for (or secured by) collateral, such as Treasury bonds and mortgage-backed securities held by the borrower financial institutions. An estimated $1 trillion per day in collateral value is transacted in the U.S. repo markets. In 2007–2008, a run on the repo market, in which funding for investment banks was ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Open Market Operations
In macroeconomics, an open market operation (OMO) is an activity by a central bank to give (or take) liquidity in its currency to (or from) a bank or a group of banks. The central bank can either buy or sell government bonds (or other financial assets) in the open market (this is where the name was historically derived from) or, in what is now mostly the preferred solution, enter into a repo or Secured transaction, secured lending transaction with a commercial bank: the central bank gives the money as a Deposit (finance), deposit for a defined period and synchronously takes an eligible asset as Collateral (finance), collateral. Central banks usually use OMO as the primary means of implementing monetary policy. The usual aim of open market operations is—aside from supplying commercial banks with liquidity and sometimes taking surplus liquidity from commercial banks—to manipulate the short-term interest rate and the supply of base money in an economy, and thus indirectly control ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Lombard Credit
Lombard credit is the granting of credit to banks against pledged items, mostly in the form of securities or life insurance policies. The pledged items must be readily marketable; in particular, the securities 'eligible for collateral' which are registered on lists. Lending is via central banks. In the US, the Lombard rate (interest rate) has been at the top of the FOMC target range for the federal funds rate since March 16, 2020. The pledging of securities means that the credit institutions have the opportunity of acquiring money in the short term from central banks. Etymology The term comes from the Lombards, a people who conquered Italy in the 6th century, and settled in the northern region that became known as Lombardy. The wealthy cities in this region were the birthplace of modern banking, and many of their inhabitants became notable in Middle Ages throughout Western Europe as bankers, money-lenders and pawn-brokers; London's Lombard Street (1598) originally was occupied ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Inflation Targeting
In macroeconomics, inflation targeting is a monetary policy where a central bank follows an explicit target for the inflation rate for the medium-term and announces this inflation target to the public. The assumption is that the best that monetary policy can do to support long-term growth of the economy is to maintain price stability, and price stability is achieved by controlling inflation. The central bank uses interest rates as its main short-term monetary instrument. An inflation-targeting central bank will raise or lower interest rates based on above-target or below-target inflation, respectively. The conventional wisdom is that raising interest rates usually cools the economy to rein in inflation; lowering interest rates usually accelerates the economy, thereby boosting inflation. The first three countries to implement fully-fledged inflation targeting were New Zealand, Canada and the United Kingdom in the early 1990s, although Germany had adopted many elements of inflatio ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economic Growth
Economic growth can be defined as the increase or improvement in the inflation-adjusted market value of the goods and services produced by an economy in a financial year. Statisticians conventionally measure such growth as the percent rate of increase in the real gross domestic product, or real GDP. Growth is usually calculated in real terms – i.e., inflation-adjusted terms – to eliminate the distorting effect of inflation on the prices of goods produced. Measurement of economic growth uses national income accounting. Since economic growth is measured as the annual percent change of gross domestic product (GDP), it has all the advantages and drawbacks of that measure. The economic growth-rates of countries are commonly compared using the ratio of the GDP to population (per-capita income). The "rate of economic growth" refers to the geometric annual rate of growth in GDP between the first and the last year over a period of time. This growth rate represents the trend in ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Price Stability
Price stability is a goal of monetary and fiscal policy aiming to support sustainable rates of economic activity. Policy is set to maintain a very low rate of inflation or deflation. For example, the European Central Bank (ECB) describes price stability as a year-on-year increase in the Harmonised Index of Consumer Prices (HICP) for the Euro area of below 2%. However, by referring to "an increase in the HICP of below 2%" the ECB makes clear that not only persistent inflation above 2% but also deflation (i.e. a persistent decrease of the general price level) are inconsistent with the goal of price stability. In the United States, the Federal Reserve Act (as amended in 1977) directs the Federal Reserve to pursue policies promoting "maximum employment, stable prices, and moderate long-term interest rates". The Fed long ago determined that the best way to meet those mandates is to target a rate of inflation of around 2%; in 2011 it officially adopted a 2% annual increase in the p ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Constitution Of The Czech Republic
The Constitution of the Czech Republic ( cs, link=no, Ústava České republiky) is the supreme law of the Czech Republic. The current constitution was adopted by the Czech National Council on 16 December 1992. It entered into force on 1 January 1993, replacing the 1960 Constitution of Czechoslovakia and the constitutional act No. 143/1968 Col., when Czechoslovakia gave way to the Slovak Republic and the Czech Republic in a peaceful dissolution. The constitution is a constitutional act, and together with other constitutional acts constitutes the so-called constitutional order of the Czech Republic, or the constitution (with a small c). While the Charter of Fundamental Rights and Basic Freedoms (Listina základních práv a svobod, No. 2/1993 Coll.), an equally important constitutional act, asserts human and civil rights, the Constitution is concerned with state sovereignty and territorial integrity, and defines the institutions governing the state. ThConstitutionis divided in ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
