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Bill: Central Bank Act
Details
Submitted by[?]: Conservative Party (보수당)
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: February 4966
Description[?]:
Dear Colleagues, As it Stands, the central Bank is overseen by the minister of finance. We believe the central bank would function more effectively as a separate entity and also on charge of setting the interest rates. It is easy for the central bank to be manipulated and destabilised in its current state and making it a separate entity will make it stronger, Dominic Holmes Deputy Conservative Party Leader |
Proposals
Article 1
Proposal[?] to change Central Bank oversight and regulation (if a central bank exists)
Old value:: The central bank is underneath the direct oversight of the Ministry of Finance.
Current: The central bank is an entirely independent agency of the government.
Proposed: The central bank is an entirely independent agency of the government.
Article 2
Proposal[?] to change Policy on the charging and collection of interest on loans
Old value:: The Ministry of Finance determines the policy on charging interest on loans
Current: The central bank determines the policy on charging interest on loans (if one exists)
Proposed: The central bank determines the policy on charging interest on loans (if one exists)
Debate
These messages have been posted to debate on this bill:
| Date | 15:16:10, July 09, 2021 CET | From | ☯ DPDP ☯ | To | Debating the Central Bank Act |
| Message | Who would the bank be run by, and how would it operate as an independent agency? How do we decide who gets to be in charge of the bank? |
| Date | 19:01:37, July 09, 2021 CET | From | Conservative Party (보수당) | To | Debating the Central Bank Act |
| Message | The bank will be ran by a committee of the top advisors and employees with lots of experience and knowledge in banking. From the committee, they will choose a president to run the central bank and will be elected every 5 years to ensure stability and change where needed. The government can ask for bonds from the central bank however the central bank will rely on funds from interest rates and investments they make. We hope this answers your questions and are up to hearing alternative ideas |
| Date | 02:54:22, July 10, 2021 CET | From | ☯ DPDP ☯ | To | Debating the Central Bank Act |
| Message | The 5-year election plan sounds good, but who exactly picks the committee? We also believe that the idea of the national, state bank relying on investments only would be quite risky, and believe that some kind of reserve fund allocated from the budget should be in place in case of economic crisis or failure to make ends meet. |
| Date | 09:59:48, July 10, 2021 CET | From | Conservative Party (보수당) | To | Debating the Central Bank Act |
| Message | We would recommend an interview process for the initial committee ran by the minister of finance. Once it is all set up and we have a committee and president, the president will be in charge of further applications or changes, We agree with your suggestion of a reserve fund and would accept this addition |
| Date | 15:23:20, July 10, 2021 CET | From | ☯ DPDP ☯ | To | Debating the Central Bank Act |
| Message | We support the move in this case and believe the bill should be voted on. |
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Voting
| Vote | Seats | ||||
| yes |
Total Seats: 750 | ||||
| no | Total Seats: 0 | ||||
| abstain | Total Seats: 0 |
| Random fact: Cultural Protocol bills must provide a real-life equivalent or short description for the ethnic groups, languages and religions contained in them, such that it would be easy for an unfamiliar player to understand (e.g. "Dundorfian = German"). Where appropriate, they should also provide guidance to players on where to find help with translations and character names. This might include, for example, links to Google Translate, Behind the Name's Random Name Generator and Fantasy Name Generators. |
| Random quote: "A cynic is a man who, when he smells flowers, looks around for a coffin." H. L. Mencken |