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List of
Central Banks Worldwide
The
Reserve Bank of Australia's (RBA) main responsibility is
monetary policy. Policy decisions are made by the
Reserve Bank Board, with the objective of achieving low
and stable inflation over the medium term. Other major roles
are maintaining
financial system stability and promoting the safety and
efficiency of the
payments system. The Bank is an active participant in
financial markets, manages Australia's foreign reserves,
issues Australian
currency notes and serves as banker to the Commonwealth
Government.
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.
The Bank has the responsibility of providing services to the
Government of Australia in addition to also providing
services to other central banks and official
institutions.[3] It currently consists of the Payments
System Board, which governs the payments system policy of
the Bank, and the Reserve Bank Board, which governs all
other monetary and banking policies of the bank.
Both Boards consist of members of both the Bank, the
Treasury, other Australian government agencies, and leaders
of other institutions that are part of the economy. The
structure of the Reserve Bank Board has remained consistent
ever since 1951, with the exception of the change in the
number of members of the Board.[2] The Governor of the
Reserve Bank of Australia is appointed by the Treasurer and
chairs both the Payment Systems and Reserve Bank Boards and
when there are disagreements between both Boards, the
Governor resolves them.
From the middle of the 19th century into the 1890s, the
prospects of a national bank forming grew. In 1911, the
Commonwealth Bank was established, but did not have the
authority to print notes, which was a power that was still
reserved to the Treasury. A movement toward reestablishing
the gold standard occurred after World War I, with John
Garvan leading various boards in contracting the money
supply on the route to doing so, and the gold standard was
instituted for both the British pound sterling and the
Australian pound in 1925.
During the Great Depression, the Australian pound became
devalued, no longer worth the pound sterling, and formally
departed from the gold standard with the Commonwealth Bank
Act of 1932.[8] Legislation in 1945 led to regulation of
private banks which H.C. Coombs was opposed to, and when he
became Governor in 1949, he gave them more overall control
over their institutions. When the monetary authorities
implemented the advice of Coombs to have a flexible interest
rate, it allowed the Bank to rely more on open market
operations.
The float of the Australian dollar happened in 1983, around
the same period of time that the financial system in
Australia was deregulated. Administration of the banks was
transferred in 1998 from the Bank to the Australian
Prudential Regulation Authority and the Payments System
Board was created, while the Bank was given power within the
said Board in the same year. The current Governor of the
Reserve Bank is Glenn Stevens, who has been the incumbent
since 18 September 2006
List of
Offshore Bank
Here are some of the common famous Offshore Zones :
Switzerland, Austria, Latvia, Liechtenstein, Cyprus, Bahamas,
Cayman Islands, Belize, Costa Rica, Panama, Dominica, British
Virgin Islands, Isle of Man, Cyprus, Mauritius, Singapore,
Hong Kong, and Cook Islands. These places are notoriously
called ' Tax havens of the World ' because they offer
significant tax benefits like no income taxes, no estate
taxes, no capital gains, excellent interest rates for
investments, direct access to stock markets. Switzerland is
the undisputed leader in offshore.
Nevertheless, privacy is a biggest attraction in these 'Tax
Free Zones' of the world.
We make offshore bank account setup easy:
Just a copy of your passport "legalized" or ID required.
Bank of
Albania - Bank of Algeria -
Bank of Argentina -
Bank of Armenia -
Bank of Aruba -
Bank of Australia -
Bank of Austrian -
Bank of Azerbaijan -
Bank of Bahamas -
Bank of Bahrain -
Bank of Bangladesh -
Bank of Barbados -
Bank of Belarus -
Bank of Belgium -
Bank of Belize -
Bank of Bermuda -
Bank of Bhutan -
Bank of Benin -
Bank of Bolivia -
Bank of Bosnia -
Bank of Botswana -
Bank of Brazil -
Bank of Bulgaria -
Bank of Burkina Faso -
Bank of Cameroon -
Bank of Canada -
Bank of Cayman Islands -
Bank of Central
African Republic - Bank of Chad -
Bank of Chile -
Bank of China -
Bank of Colombia -
Bank of Congo
-Bank of Costa Rica -
Bank of Côte d'Ivoire -
Bank of Croatia -
Bank of Cuba -
Bank of Cyprus -
Bank of Czech Republic -
Denmark -
Bank of Dominican Republic -
East
Caribbean area - Ecuador -
Egypt -
El Salvador -
Equatorial
Guinea - Estonia -
Ethiopia -
European Union -
Fiji -
Finland -
France -
Gabon -
Georgia -
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