Central Bank

A central bank or reserve bank is the apex financial body of a country that manages a nation’s currency, money supply and interest rates. Central banks also usually oversee the commercial banking system of their respective countries.
setting the reserve requirement, and acting as a lender of last resort to the banking sector during times of bank insolvency or financial crisis. Central banks usually also have supervisory powers, intended to prevent commercial banks and other financial institutions from reckless or fraudulent behavior.

Central banks in most developed nations are institutionally designed to be independent from political interference.

• Functions of Central Bank
  Functions of a central bank may include:

  Implemention of monetary policies.
  Setting the official interest rate used to manage both inflation and the country’s exchange rate and ensuring that this rate takes effect via a variety of policy mechanisms
  Controlling the nation’s entire money supply
  Open Market Operations- Buying and selling of securities in order to keep check on money supply in the country
  Regulating Issuance of currency
  Determinination of Interest rates
  Managing the country’s foreign exchange
  Performing the Government’s banker and the bankers’ bank functions; acts as a ‘lender of last resort’
  Regulating and supervising the banking industry
  Setting nation’s gold reserves and the Government’s stock register

  List of Central Banks
  The central Bank of most developed countries of the world include:
  Bank of America Products & Services
  Bank of America
  Bank of Canada
  Bank of New York
  Central Bank Bahamas
  Central Bank Brazil
  Central Bank Chile
  Central Bank China
  Central Bank Egypt
  Central Bank Iraq Financial Organisations Governed
  Central Bank Iraq
  Central Bank Ireland
  Central Bank Kenya
  Central Bank Kuwait
  Central Bank Malyasia
  Central Bank Nigeria
  Central Bank Oman
  Central Bank Philippine
  Central Bank Philippines Corporate Information
  Central Bank Sri Lanka Corporate Information
  Central Bank Sri Lanka

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  Last Updated on : 30th July 2013