Central Bank of Nigeria
The Central Bank of Nigeria (CBN) is the Central bank and apex monetary authority of Nigeria established by the CBN Act of 1958 and commenced operations on July 1, 1959.
Preamble to the United States Constitution
The Preamble to the United States Constitution is a brief introductory statement of the Constitution's fundamental purposes and guiding principles. It states in general terms, and courts have referred to it as reliable evidence of the Founding Fathers' intentions regarding the Constitution's meaning and what they hoped the Constitution would achieve.
French Constitution of 1791
The National Assembly began the process of drafting a constitution. The Declaration of the Rights of Man, adopted on 27 August 1789 eventually became the preamble of the constitution adopted on 3 September 1791. The Declaration offered sweeping generalizations about rights, liberty, and sovereignty.
Preamble to the United States Constitution
The Preamble was placed in the Constitution during the last days of the Constitutional Convention by the Committee on Style, which wrote its final draft, with Gouverneur Morris leading the effort. It was not proposed or discussed on the floor of the convention beforehand. The initial wording of the preamble did not refer to the people of the United States, rather, it referred to people of the various states, which was the norm. In earlier documents, including the 1778 Treaty of Alliance with France, the Articles of Confederation, and the 1783 Treaty of Paris recognizing American independence, the word ``people ''was not used, and the phrase the United States was followed immediately by a listing of the states, from north to south. The change was made out of necessity, as the Constitution provided that whenever the popularly elected ratifying conventions of nine states gave their approval, it would go into effect for those nine, irrespective of whether any of the remaining states ratified.
Federalism
Federations often employ the paradox of being a union of states, while still being states (or having aspects of statehood) in themselves. For example, James Madison (author of the US Constitution) wrote in Federalist Paper No. 39 that the US Constitution "is in strictness neither a national nor a federal constitution; but a composition of both. In its foundation, it is federal, not national; in the sources from which the ordinary powers of the Government are drawn, it is partly federal, and partly national..." This stems from the fact that states in the US maintain all sovereignty that they do not yield to the federation by their own consent. This was reaffirmed by the Tenth Amendment to the United States Constitution, which reserves all powers and rights that are not delegated to the Federal Government as left to the States and to the people.
Monetary policy of the United States
Monetary policy concerns the actions of a central bank or other regulatory authorities that determine the size and rate of growth of the money supply. For example, in the United States, the Federal Reserve is in charge of monetary policy, and implements it primarily by performing operations that influence short - term interest rates.
Constitution of India
The Indian constitution is the world's longest. At its commencement, it had 395 articles in 22 parts and 8 schedules. It is made up of approximately 145,000 words, making it the second largest active constitution in the world. In its current form (September 2012), it has a preamble, 25 parts with 448 articles, 12 schedules, 5 appendices and 101 amendments, the latest of which came into force on 8 September 2016.
Federal Reserve
The Federal Reserve System (also known as the Federal Reserve or simply the Fed) is the central banking system of the United States of America. It was created on December 23, 1913, with the enactment of the Federal Reserve Act, after a series of financial panics (particularly the panic of 1907) led to the desire for central control of the monetary system in order to alleviate financial crises. Over the years, events such as the Great Depression in the 1930s and the Great Recession during the 2000s have led to the expansion of the roles and responsibilities of the Federal Reserve System.
Federal Reserve
The Federal Reserve System is composed of several layers. It is governed by the presidentially appointed Board of Governors or Federal Reserve Board (FRB). Twelve regional Federal Reserve Banks, located in cities throughout the nation, oversee the privately owned U.S. member banks. Nationally chartered commercial banks are required to hold stock in the Federal Reserve Bank of their region, which entitles them to elect some of their board members. The Federal Open Market Committee (FOMC) sets monetary policy; it consists of all seven members of the Board of Governors and the twelve regional bank presidents, though only five bank presidents vote at any given time: the president of the New York Fed and four others who rotate through one - year terms. There are also various advisory councils. Thus, the Federal Reserve System has both public and private components. The structure is considered unique among central banks. It is also unusual in that the United States Department of the Treasury, an entity outside of the central bank, prints the currency used.
Chinese Banking Liquidity Crisis of 2013
The Chinese Banking Liquidity Crisis of 2013 was a sudden credit crunch affecting China's commercial banks evidenced by a rapid rise on 20 June 2013 in the Shanghai interbank overnight lending rates to a high of 30 percent from its usual rate of less than 3%. The ensuing panic affected gold markets and stock. China's regulation of the foreign exchange market had caused a decline in inflow of cash. On 19 June 2013, instead of injecting additional funds and easing its monetary policy, China's central bank People's Bank of China (PBOC) told commercial banks to "make full use of incremental funds and revitalize stock options." On 24 June 2014 the PBOC told commercial banks to "control the risk associated with credit expansion" effectively increasing the scrutiny of shadow banks' lending practices. This resulted in a sudden shortfall in the cash market resulting in short term repo rates in excess of 25%. In effect China was using market forces to manage the economy.
Lawrence H. White
Lawrence H. White (born November 27, 1954) is an American economics professor at George Mason University who teaches graduate level monetary theory and policy. He is considered an authority on the history and theory of free banking. His writings support the abolition of the Federal Reserve System and the promotion of private and competitive banking.
Constitution of the United States
This article is part of a series on the Constitution of the United States of America Preamble and Articles of the Constitution Preamble II III IV V VI VII Amendments to the Constitution Bill of Rights II III IV V VI VII VIII IX X XI XII XIII XIV XV XVI XVII XVIII XIX XX XXI XXII XXIII XXIV XXV XXVI XXVII Unratified Amendments Congressional Apportionment Titles of Nobility Corwin Child Labor Equal Rights D.C. Voting Rights History Drafting and ratification timeline Convention Signing Federalism Republicanism Full text of the Constitution and Amendments Preamble and Articles I -- VII Amendments I -- X Amendments XI -- XXVII Unratified Amendments United States portal U.S. Government portal Law portal Wikipedia book
United States Declaration of Independence
As was the custom, Congress appointed a committee to draft a preamble to explain the purpose of the resolution. John Adams wrote the preamble, which stated that because King George had rejected reconciliation and was hiring foreign mercenaries to use against the colonies, ``it is necessary that the exercise of every kind of authority under the said crown should be totally suppressed ''. Adams's preamble was meant to encourage the overthrow of the governments of Pennsylvania and Maryland, which were still under proprietary governance. Congress passed the preamble on May 15 after several days of debate, but four of the middle colonies voted against it, and the Maryland delegation walked out in protest. Adams regarded his May 15 preamble effectively as an American declaration of independence, although a formal declaration would still have to be made.
World Bank
The World Bank was created at the 1944 Bretton Woods Conference along with the International Monetary Fund (IMF). The president of the World Bank is, traditionally, an American. The World Bank and the IMF are both based in Washington, D.C., and work closely with each other.
Economy of the United Kingdom
Government involvement in the British economy is primarily exercised by Her Majesty's Treasury, headed by the Chancellor of the Exchequer, and the Department for Business, Energy and Industrial Strategy. Since 1979 management of the economy has followed a broadly laissez - faire approach. The Bank of England is the UK's central bank and its Monetary Policy Committee is responsible for setting interest rates, quantitative easing, and forward guidance.
Qatar Central Bank
The Qatar Central Bank was originally the Qatar Monetary Agency (and was known before that as Qatar Dubai Currency Board), founded on May 13, 1973 after Dubai joined the United Arab Emirates and disengaged itself from British monetary policy which the area had previously followed. The Qatar Monetary Agency assumed the duties of a central bank. In 1973, Amiri Decree No. 24 authorized the issuance of the Qatari Riyal (QR).
United States dollar
The monetary base consists of coins and Federal Reserve Notes in circulation outside the Federal Reserve Banks and the U.S. Treasury, plus deposits held by depository institutions at Federal Reserve Banks. The adjusted monetary base has increased from approximately 400 billion dollars in 1994, to 800 billion in 2005, and over 3000 billion in 2013. The amount of cash in circulation is increased (or decreased) by the actions of the Federal Reserve System. Eight times a year, the 12-person Federal Open Market Committee meet to determine U.S. monetary policy. Every business day, the Federal Reserve System engages in Open market operations to carry out that monetary policy. If the Federal Reserve desires to increase the money supply, it will buy securities (such as U.S. Treasury Bonds) anonymously from banks in exchange for dollars. Conversely, it will sell securities to the banks in exchange for dollars, to take dollars out of circulation.
Bank of Sierra Leone
The Bank of Sierra Leone is the central bank of Sierra Leone. It issues the country's currency, known as the Leone. The bank formulates and implements monetary policy, including foreign exchange.
Jürgen Stark
Jürgen Stark (born 31 May 1948 in Gau-Odernheim, Germany) is a German economist who has been a member of the Executive Board of the European Central Bank (ECB) from June 2006, but announced in September 2011 he would resign later that year. Within the Executive Board he is responsible for Economics and for Monetary Analysis and is often referred to as the "chief economist" of the ECB, although this is not his official title.
Ministry of Finance of the People's Republic of China
The Ministry of Finance's remit is smaller than its counterparts in many other states. Macroeconomic management is primarily handled by the National Development and Reform Commission (NDRC). State-owned industries are the responsibility of the State-owned Assets Supervision and Administration Commission, and there are separate regulators for banking, insurance and securities. It also does not handle regulation of the money markets or interest rates. These, together with other aspects of monetary policy, are governed by the People's Bank of China (PBC), China's central bank. The Ministry, NDRC and PBC are equal in status, with their political heads all sitting on the State Council.
Who wrote the preamble to the constitution of the country that owns the banks of the body responsible for US monetary policy?
who is responsible for monetary policy in the us
the Federal Reserve
who are #1 banks owned by
United States of America
who wrote the preamble to the constitution of #2
the Committee on Style