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Bill: The Bank of Hobrazia Act
Details
Submitted by[?]: We Say So! Party
Status[?]: passed
Votes: This is an ordinary bill. It requires more yes votes than no votes. This bill will not pass any sooner than the deadline.
Voting deadline: March 2542
Description[?]:
| Accepting that the ownership and operation of general banking services to the public is best provided by a competitive and vibrant private system, whilst also accepting the need for controls to be placed upon certain areas of the National economy, this Act will return control of the Bank of Hobrazia to the public. The duties of The Bank of Hobrazia are defined below: * Monetary stability Stable prices and confidence in the currency are the two main criteria for monetary stability. Stable prices are maintained by making sure price increases meet the Government's inflation target. The Bank aims to meet this target by adjusting the base interest rate, which is decided by the Monetary Policy Committee, and through its communications strategy. * Financial stability Maintaining financial stability involves protecting against threats to the whole financial system. Threats are detected by the Bank's surveillance and market intelligence functions. The threats are then dealt with through financial and other operations, both at home and abroad. In exceptional circumstances, the Bank may act as the lender of last resort by extending credit when no other institution will. The Bank will work together with several other institutions to secure both monetary and financial stability, including: * Finance Ministry, the Government department responsible for financial and economic policy. * The Financial Services Authority, an independent body that regulates the financial services industry. * Other central banks and international organisations, with the aim of improving the international financial system. Furthermore The Bank of Hobrazia will act as the Government's banker, and as such maintain the Government's Consolidated Fund account. It also manages the country's foreign exchange and gold reserves. The Bank will also act as the bankers' bank, especially in its capacity as a lender of last resort, and to maintain its pragmatic experience in all aspects of banking also providing commercial and retail banking facilities to a very limited number of corporate institutions and individuals. The Bank will also act as monopoly provider of all Bank notes within the nation guaranteeing that supply is always maintained at acceptable levels without the concern of differing banks producing differing bank notes. |
Proposals
Article 1
Proposal[?] to change The banking system.
Old value:: All banks are privately owned.
Current: All banks are privately owned.
Proposed: The government operates a central bank and all other banks are private.
Debate
These messages have been posted to debate on this bill:
subscribe to this discussion - unsubscribeVoting
| Vote | Seats | |||
| yes |
Total Seats: 314 | |||
| no | Total Seats: 82 | |||
| abstain | Total Seats: 4 |
| Random fact: Voters have an extra appreciation for bills that actually get passed, so if you want to maximally take profit from your votes, make sure you compromise with others. |
| Random quote: "Non-violence is not a garment to be put on and off at will. Its seat is in the heart, and it must be an inseparable part of our very being." - Mahatma Gandhi |