Banco Central de Cuba

Central Bank of Cuba Brief History Established (as Banco National de Cuba ) 1950, reorganised in 1961, 1966, 1975, 1984. Re-established in 1997 as Central Bank of Cuba, a state bank with monetary and foreign exchange authority. In 1948, Banco Nacional de Cuba is created as a Central Bank of the State, assuming the functions of an issuer entity of the nation until the constitution of Banco Central de Cuba. Since it was created in 1997, Banco Central de Cuba exert the function of issuer entity on the national currency in the country; and this very year, the issuance of the first series of bank notes in Cuban pesos on behalf of BCC started. Further on, the rest of the denomination follow, until all the monetary signs with notes issued by Banco Central de Cuba was completed. By this way, most of the bank notes circulating nowadays have been issued by Banco Central de Cuba. The coins, both from Cuban peso and convertible peso, have been regularly issued according to the needs of circulation within the country. The first issues by Banco Central de Cuba started as from its constitution in the year 1997, with bank note with face value of 5 and 10 pesos. Make click on notes that you wants to be enlarged They were followed by the issue of bank notes with face value of 20 and 50 pesos in 1988. In the year 2000, on the occasion of the 50th Anniversary of the Central Banking in Cuba, the 100 peso bank note was issued, dedicated to commemorate this occasion. The printing of this denomination has regularly continued in the following years. In the year 2001, the preceding issues were accompanied by the one peso bank note. In the year 2003, Banco Central de Cuba issued two commemorative bank notes: The first one with face value of 1 peso in the occasion of he 150th Anniversary of the birth of Jose Marti, our national hero, and the second one, with a face value of 20 pesos in remembrance of the 50th Anniversary of the Assault to Moncada Garrison. With the 3 peso bank note issued in the year 2004, Banco Central de Cuba completed all our set of bank notes issued in its name. In the year 2002, printing of high denominations using with the Intaglio system was introduced with the denomination of 50 pesos, which confers a higher quality, security and aesthetic, as well as the relief sensation perceptible by the sense of touch. At present, bank notes of 20, 50 and 100 are printed by means of this technique.

Europe is slow to follow

The rest of the world recovers apace from 2001’s travails, but Europe’s

bank of sweden

History

Sveriges Riksbank, or the Riksbank as it is usually called, is the world’s oldest central bank. It was founded in 1668 and was then known as the Bank of the Estates of the Realm, in other words, parliament’s bank. Initially, the Riksbank was more like an ordinary commercial bank than a central bank. It lent money to the general public and did not have a monopoly on issuing banknotes until 1904. Prior to this the banks issued their own banknotes.

The Riksbank began its activities in 1668. Its precursor was the so-called Palmstruch bank, or Stockholm Banco, which was founded in 1656. Although Johan Palmstruch’s bank was private, its governors were chosen by the King and the bank’s activities were regulated in a document whereby the King gave Palmstruch permission to run a bank.

Introduction to the People's Bank of China

Introduction to the People's Bank of China

The People's Bank of China (PBC) was established on December 1, 1948 based on the consolidation of the Huabei Bank, the Beihai Bank and the Xibei Farmer Bank. In September 1983, the State Council decided to have the PBC function as a central bank. The Law of the People's Republic of China on the People's Bank of China adopted on March 18, 1995 by the 3rd Plenum of the 8th National People's Congress has since legally confirmed the PBC's central bank status.
With the improvement of the socialist market economic system, the PBC, as a central bank, will play an even more important role in China's macroeconomic management. The amended Law of the People's Republic of China on the People's Bank of China, adopted by the 6th meeting of the Standing Committee of the 10th National People's Congress on December 27, 2003, provides that the PBC performs the following major functions:
(1) Drafting and enforcing relevant laws, rules and regulations that are related to fulfilling its functions;
(2) Formulating and implementing monetary policy in accordance with law;
(3) Issuing the Renminbi and administering its circulation;
(4) Regulating financial markets, including the inter-bank lending market, the inter-bank bond market, foreign exchange market and gold market;
(5) Preventing and mitigating systemic financial risks to safeguard financial stability;
(6) Maintaining the Renminbi exchange rate at adaptive and equilibrium level; Holding and managing the state foreign exchange and gold reserves;
(7) Managing the State treasury as fiscal agent;
(8) Making payment and settlement rules in collaboration with relevant departments and ensuring normal operation of the payment and settlement systems;
(9) Providing guidance to anti-money laundering work in the financial sector and monitoring money-laundering related suspicious fund movement;
(10) Developing statistics system for the financial industry and responsible for the consolidation of financial statistics as well as the conduct of economic analysis and forecast
(11) Administering credit reporting industry in China and promoting the building up of credit information system;
(12) Participating in international financial activities at the capacity of the central bank;
(13) Engaging in financial business operations in line with relevant rules;
(14) Performing other functions prescribed by the State Council.

Bank of India

The Reserve Bank of India was set up on the basis of the recommendations of the Royal Commission on Indian Currency and Finance also known as the Hilton-Young Commission.

The Reserve Bank of India was set up as a Share Holders' Bank. The Share Issue of the Bank offered in March, 1935 was the largest share issue in India at the time. The matter was further compounded by the conditions and restrictions imposed under the Act. These conditions related to qualifications of the shareholders, the geographical distribution and allotment of shares (to avoid concentration of shares and to ensure that those holding the shares were fit and proper. To simplify matters, Share Certificate Forms of the different registers were printed in different colours. Despite the intricate and gigantic nature of the task, it was carried out with great 'accuracy and dispatch'.

A message sent by the Viceroy to the Governor, Osborne Smith when the Reserve Bank of India commenced its operations on 1st April, 1935

Message

OSBORNE SMITH GOVERNOR RESERVE BANK CALCUTTA. FOLLOWING HAS BEEN RECEIVED FROM SECRETARY FOR YOU. BEGINS, AS RESERVE BANK COMMENCES OPERATIONS TODAY I TAKE OPPORTUNITY TO CONVEY YOU AND YOUR COLLEAGUES ON THE BOARD MY MOST GOOD WISHES AND TO EXPRESS MY CONFIDENCE THAT THIS GREAT UNDERTAKING WILL CONTRIBUTE LARGELY TO THE ECONOMIC WELL BEING OF INDIA AND OF ITS PEOPLE. PRIVATE SECRETARY VICEROY

History and production of money

Different cultures throughout the world have used different means of payment. In the South Seas, seashells were used as money, while Central Americans paid for goods with cocoa beans. Welcome to the diverse world of payment media!

The functions of money - what makes it valuable?

Why do we actually need money?
What characteristics does it have to have in order to fulfil its functions? On this stage, you will learn about the basics of monetary theory and policy.

At an interactive terminal, you can see for yourself how difficult life would be without money - in a goods market in the imaginary country of Nonpekunia.

The World's Top 50 Banks

Current Rank	Previous Rank	BANK	Assets US$m	+ or - (local curr)	Capital US$m	Balance Sheet
1	(1)	Deutsche Bank AG, Frankfurt am Main, Germany
			*841,801	-	1,576.63	31.12.99
2	(2)	BNP Paribas SA, Paris, France
			*700,236	-	1,803.15	31.12.99
3	(4)	The Bank of Tokyo-Mitsubishi Ltd, Tokyo, Japan
			*700,065	-3.25%	7,663.14	31.03.00
4	(3)	UBS AG, Z�rich, Switzerland
			686,634	+5.59%	2,691.95	31.12.99
5	(5)	Bank of America NA, Charlotte, USA
			*571,732	-	2,833.00	31.12.99
6	(10)	The Sumitomo Bank Ltd, Tokyo, Japan
			*524,229	-2.19%	7,340.20	31.03.00
7	(6)	Bayerische Hypo-und Vereinsbank AG, Munich, Germany
			504,415	-	1,267.92	31.12.99
8	(11)	The Norinchukin Bank, Tokyo, Japan
			485,112	+1.32%	10,968.64	31.03.00
9	(7)	The Dai-Ichi Kangyo Bank Limited, Tokyo, Japan
			480,710	-6.15%	8,373.07	31.03.00
Current Rank	Previous Rank	BANK	Assets US$m	+ or - (local curr)	Capital US$m	Balance Sheet
10	(12)	The Sakura Bank Ltd, Tokyo, Japan
			*472,828	-1.06%	10,166.29	31.03.00
11	(8)	ABN AMRO Holding NV, Amsterdam, Netherlands
			*458,940	-	1,661.82	31.12.99
12	(18)	The Fuji Bank Ltd, Tokyo, Japan
			458,338	+2.39%	10,135.46	31.03.00
13	(9)	Cr�dit Agricole, Paris, France
			*440,525	+12.50%	3,896.43	31.12.99
14	(20)	Industrial & Commercial Bank of China, Beijing, China
			427,546	+9.30%	20,220.67	31.12.99
15	(13)	Soci�t� G�n�rale, Paris La D�fense, France
			*407,478	+6.00%	3,793.73	31.12.99
16	(14)	Dresdner Bank AG, Frankfurt am Main, Germany
			*397,761	-	1,357.12	31.12.99
17	(15)	Barclays Bank PLC, London, UK
			*397,668	+16.17%	2,409.35	31.12.99
18	(16)	The Sanwa Bank, Limited, Tokyo, Japan
			396,308	-9.71%	13,113.46	31.03.99
Current Rank	Previous Rank	BANK	Assets US$m	+ or - (local curr)	Capital US$m	Balance Sheet
19	(17)	Westdeutsche Landesbank Girozentrale, D�sseldorf, Germany
			*394,662	-	1,186.53	31.12.99
20	(19)	Commerzbank AG, Frankfurt am Main, Germany
			*372,898	-	1,338.08	31.12.99
21	(21)	The Industrial Bank of Japan Ltd, Tokyo, Japan
			370,990	-9.60%	6,567.59	31.03.00
22	(22)	ING Bank NV, Amsterdam, Netherlands
			*350,424	-	-	31.12.99
23	(-)	Fortis Bank NV/SA, Brussels, Belgium
			*341,251	-	2,932.14	31.12.99
24	(23)	The Chase Manhattan Bank, New York City, USA
			*332,198	+11.96%	1,211.00	31.12.99
25	(24)	Citibank NA, New York City, USA
			*327,899	+8.97%	751.00	31.12.99
26	(27)	Bank of China, Beijing, China
			316,214	+5.76%	12,621.54	31.12.99
27	(25)	Banca Intesa SpA, Milan, Italy
			*304,664	-	2,798.39	31.12.99
Current Rank	Previous Rank	BANK	Assets US$m	+ or - (local curr)	Capital US$m	Balance Sheet
28	(26)	National Westminster Bank Plc, London, UK
			*299,313	-0.14%	-	31.12.99
29	(35)	The Tokai Bank Limited, Nagoya, Japan
			*297,858	+0.61%	7,050.53	31.03.00
30	(28)	Credit Suisse First Boston, Z�rich, Switzerland
			*293,922	-10.86%	2,373.50	31.12.98
31	(29)	Abbey National plc, London, UK
			*291,288	+11.05%	752.62	31.12.99
32	(31)	Lloyds TSB Bank plc, London, UK
			*283,789	+4.82%	2,238.52	31.12.99
33	(30)	Bayerische Landesbank Girozentrale, Munich, Germany
			*281,877	-	3,346.76	31.12.99
34	(32)	Rabobank Nederland, Utrecht, Netherlands
			*281,866	-	-	31.12.99
35	(-)	The Agricultural Bank of China, Beijing, China
			*274,876	+12.53%	15,944.32	31.12.99
36	(39)	The Asahi Bank Ltd, Tokyo, Japan
			273,999	-0.43%	3,914.06	31.03.00
Current Rank	Previous Rank	BANK	Assets US$m	+ or - (local curr)	Capital US$m	Balance Sheet
37	(-)	China Construction Bank, Beijing, China
			265,845	+14.42%	10,280.69	31.12.99
38	(43)	Halifax plc, Halifax, UK
			261,205	+29.65%	723.61	31.12.99
39	(33)	Landesbank Baden-W�rttemberg, Stuttgart, Germany
			*257,632	-	2,207.14	31.12.99
40	(34)	Banco Santander Central Hispano, Madrid, Spain
			*257,041	-	1,838.21	31.12.99
41	(37)	DG BANK Deutsche Genossenschaftsbank AG, Frankfurt am Main, Germany
			*243,778	-	1,472.39	31.12.99
42	(38)	Banco Bilbao Vizcaya Argentaria, Madrid, Spain
			*238,726	-	-	31.12.99
43	(41)	First Union National Bank, Charlotte, USA
			*229,272	+3.05%	616.00	31.12.99
44	(42)	The Hongkong and Shanghai Banking Corporation Limited, Hong Kong, Hong Kong
			*210,702	+10.58%	2,091.46	31.12.99
45	(55)	The Zenshinren Bank, Tokyo, Japan
			209,996	+12.21%	2,437.46	31.03.00
Current Rank	Previous Rank	BANK	Assets US$m	+ or - (local curr)	Capital US$m	Balance Sheet
46	(44)	International Bank for Reconstruction and Development, Washington, USA
			204,971	+26.57%	11,288.00	30.06.98
47	(46)	Kreditanstalt f�r Wiederaufbau (KFW), Frankfurt am Main, Germany
			197,096	-	512.47	31.12.99
48	(47)	Bankgesellschaft Berlin AG, Berlin, Germany
			*194,233	-	558.79	31.12.99
49	(48)	Royal Bank of Canada, Montr�al, Canada
			*184,003	-1.37%	3,449.59	31.10.99
50	(49)	Caisse des D�p�ts et Consignations, Paris, France
			*177,511	-	-	31.12.99