Central Banks

Federal Reserve Bank U.S.A.

The Federal Open Market Committee(FOMC)is the most important monetary policy making body of the Federal Reserve System. It is responsible for formulation of a policy designed to promote economic growth, full employment, stable prices, and a sustainable pattern of international trade and payments. The FOMC makes key decisions regarding the conduct of open market operations—purchases and sales of U.S. government and federal agency securities—which affect the provision of reserves to depository institutions and, in turn, the cost and availability of money and credit in the U.S. economy. The FOMC also directs System operations in foreign currencies. http://www.federalreserve.gov/

The European Central Bank - (ECB)

The European Central Bank (ECB) is the organisation for the conduct of monetary policy and the performance of other central banking functions for the euro. It carries out these tasks together with the national central banks of the euro area. The ECB is at the heart of the Eurosystem and the European System of Central Banks (ESCB). It was established in June 1998, replacing its precursor, the European Monetary Institute (EMI). A cornerstone of the monetary order of the euro area is the independence of the ECB and the NCBs of the Eurosystem. Independence is an indispensable element which facilitates the pursuit of price stability
www.ecb.int/ecb/html/index.en.html

Bank of England - (BOE)

The Bank of England can be characterized as a less independent Central Bank because its policies are subject to overrule by the government. The Bank sets interest rates to keep inflation low, issues banknotes and works to maintain a stable financial system. The Bank assesses risks to the stability of the financial system and works to strengthen the way it operates

The Bank of England is the central bank of the United Kingdom. Sometimes known as the ‘Old Lady’ of Threadneedle Street, the Bank was founded in 1694, nationalised on 1 March 1946, and gained independence in 1997. Standing at the centre of the UK’s financial system, the Bank is committed to promoting and maintaining monetary and financial stability as its contribution to a healthy economy.

The Bank’s roles and functions have evolved and changed over its three-hundred year history. Since its foundation, it has been the Government’s banker and, since the late 18th century, it has been banker to the banking system more generally - the bankers’ bank. As well as providing banking services to its customers, the Bank of England manages the UK’s foreign exchange and gold reserves.
www.bankofengland.co.uk/

The Bank of Japan - (BOJ)

The Bank of Japan is the central bank of Japan. It is a juridical person established based on the Bank of Japan Law and is not a government agency or a private corporation.

The Law sets the Bank’s objectives “to issue banknotes and to carry out currency and monetary control” and “to ensure smooth settlement of funds among banks and other financial institutions, thereby contributing to the maintenance of an orderly financial system.”

The Law also stipulates the Bank’s principle of currency and monetary control as follows: “currency and monetary control shall be aimed at, through the pursuit of price stability, contributing to the sound development of the national economy.”
www.boj.or.jp/en/

The Deutsche Bundesbank - (BUBA)

The Bundesbank is a very independent entity, dedicated to a stable currency, low inflation and controlled money supply. The hyperinflation that developed after World War I created a political and fertile economic scenario that gave rise to an extremist party and the start of World War II. The Bundesbank charter obligated it to avoid any such economic chaos.
A stable currency for Germany and Europe – this is the slogan that the Deutsche Bundesbank is using to celebrate its 50th anniversary from 1 August 2007 onwards. For fifty years the Bundesbank watched over the currency in Germany and, since 1999, along with the other central banks, has been watching over the currency of the Eurosystem.
www.bundesbank.de/index.en.php

Bank of Italy - (BOI)

The Bank of Italy is the central bank of the Republic of Italy and part of the European System of Central Banks (ESCB) and the Eurosystem. It is a public-law institution and pursues aims of general interest in monetary and financial matters: price stability, the primary objective of the Eurosystem under the Treaty establishing the European Community (the EC Treaty); the stability and efficiency of the financial system, thus implementing the principle of the protection of savings. In performing its tasks the Bank operates autonomously and independently, in compliance with the principle of transparency and the applicable provisions of Community and Italian law.
http://www.bancaditalia.com

Bank of Canada (BOC)

The Bank of Canada is the nation’s central bank. It does not offer banking services to the public. Rather, it has the responsibilities for Canada’s monetary policy, bank notes, financial system and funds management. The bank’s principal role, as defined in the Bank of Canada Act, is “to promote the economic and financial welfare of Canada.”

The Bank was founded in 1934 as a privately owned corporation. In 1938, it became a Crown corporation belonging to the federal government. Since that time, the Minister of Finance has held the entire share capital issued by the Bank. Ultimately, the Bank is owned by the people of Canada.
www.bankofcanada.ca/en/