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Bill: ECO-4919-01: Democratic Financial System Act
Details
Submitted by[?]: Ecoco 🌲 에코코
Status[?]: defeated
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: November 4919
Description[?]:
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Proposals
Article 1
Proposal[?] to change The banking system.
Old value:: The government operates a central bank and all other banks are private.
Current: The government operates a central bank and all other banks are private.
Proposed: The government operates large, national banks, but small community based private banks are allowed.
Article 2
Proposal[?] to change Central Bank oversight and regulation (if a central bank exists)
Old value:: The government appoints the head of the central bank and an executive board to manage the central bank but does not otherwise interfere in its operations.
Current: The central bank is an entirely independent agency of the government.
Proposed: The central bank is underneath the direct oversight of the Ministry of Finance.
Article 3
Proposal[?] to change Reserve requirements for bank loans
Old value:: There is a fractional reserve requirement for bank loans.
Current: There is a full reserve requirement for bank loans.
Proposed: There is a full reserve requirement for bank loans, but small banks and credit unions are exempt.
Debate
These messages have been posted to debate on this bill:
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| Vote | Seats | ||
| yes |
Total Seats: 0 | ||
| no |
Total Seats: 260 | ||
| abstain |
Total Seats: 0 |
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