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Bill: Central Banking Reform Act of 3599
Details
Submitted by[?]: Chann National Party (CNP)
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: July 3601
Description[?]:
| OOC: Upon passage, to be entered into OOC archive An Act To provide for the establishment of BANK OF SOLENTIA, to furnish an elastic currency, to afford means of rediscounting commercial paper, to establish a more effective supervision of banking in Solentia, and for other purposes. Mission of the Bank of Solentia 1. Conducting the nation's monetary policy by influencing the monetary and credit conditions in the economy in pursuit of maximum employment, stable prices, and moderate long-term interest rates 2. Supervising and regulating banking institutions to ensure the safety and soundness of the nation's banking and financial system and to protect the credit rights of consumers 3. Maintaining the stability of the financial system and containing systemic risk that may arise in financial markets 4. Providing financial services to depository institutions, the U.S. government, and foreign official institutions, including playing a major role in operating the nation's payments system ARTICLE I. NAME. The name of the central bank of the Republic of Solentia shall be the "Bank of Solentia" ARTICLE II. ORGANIZATION. The chair of the bank shall be the Minister of Finance ARTICLE III. FUNCTIONS. >>>>SECTION 1. TO SERVE AS A DEPOSITORY AND FISCAL AGENT FOR THE REPUBLIC OF SOLENTIA. The moneys held in the general fund of the Treasury, upon the direction of the Minister of Finance, shall be deposited in the Bank of Solentia and, when required by the Minister of Finance, shall act as fiscal agents of the Republic of Solentia; and the revenues of the Government or any part thereof may be deposited and disbursements may be made by checks drawn against such deposits. >>>>SECTION 2. REGULATION OF CURRENCY. The Bank of Solentia shall also regulate the Solenar through monetary policy, the setting of interest rates and control of inflation and other monetary forces which affects the Solenar. he Bank of Solentia shall have regulatory powers over the use and exchange of other currencies within the borders of Solentia, as well as the regulation of the Solenar in foreign countries. >>>>SECTION 3. LOANS & ISSUANCE OF NOTES. The Bank of Solentia will have at the discretion of the Minister of Finance the authority to issue loans and bank notes. |
Proposals
Article 1
Proposal[?] to change The banking system.
Old value:: The government operates large, national banks, but small community based private banks are allowed.
Current: The government operates a central bank and all other banks are private.
Proposed: The government operates a central bank and all other banks are private.
Debate
These messages have been posted to debate on this bill:
| Date | 20:29:00, December 29, 2013 CET | From |  Green Socialist Party | To | Debating the Central Banking Reform Act of 3599 |
| Message | Good proposal! |
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Voting
| Vote | Seats | |||
| yes | Total Seats: 434 | |||
| no | Total Seats: 0 | |||
| abstain | Total Seats: 316 |
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| Random quote: Wait a min was we tricked into voting for absolute monarchy (Jamie Jamesson, Chancellor of Luthori 4269-4310) |