Hello and welcome to ExamPundit. A lot of questions come from Central Banks of Countries. So we prepared a list of important central banks for Banking and Insurance AO/Clerk/PO/Assistant Examinations.
What is Central Bank?
A central bank, reserve bank, or monetary authority is an
institution that manages a state’s currency, money supply, and interest rates.
Central banks also usually oversee the commercial banking system of their
respective countries. This is an exampundit original. In contrast to a commercial bank, a central bank
possesses a monopoly on increasing the monetary base in the state, and usually
also prints the national currency, which usually serves as the state’s legal
tender.
institution that manages a state’s currency, money supply, and interest rates.
Central banks also usually oversee the commercial banking system of their
respective countries. This is an exampundit original. In contrast to a commercial bank, a central bank
possesses a monopoly on increasing the monetary base in the state, and usually
also prints the national currency, which usually serves as the state’s legal
tender.
Bank for International
Settlements
Settlements
- It is an international organization of central banks which
“fosters international monetary and financial cooperation and serves as a
bank for central banks”. - It is headquartered in Basel, Switzerland.
- The General Manager is
Jaime Caruana. - Christian Noyer is the chairman.
Reserve Bank of India
- It is headed by Governor Raghuram Rajan and headquartered in Mumbai,
Maharashtra. - RBI was conceptualized by the book named – “The Problem of the
Rupee – Its origin and its solution” written by Dr. B.R. Ambedkar. - RBI is also
a member of Asian Clearing Union.
Important National and
Central Banks
Central Banks
- Australia – Reserve Bank of Australia
- Bangladesh – Bangladesh Bank
- Bhutan – Royal Monetary Authority of Bhutan
- Brazil – Central Bank of Brazil
- Canada – Bank of Canada
- China – People’s Bank of China
- Hong Kong – Hong Kong Monetary Authority
- Indonesia – Bank of Indonesia
- Japan – Bank of Japan aka Nippon Ginko
- Malaysia – Bank Negara Malaysia
- Maldives – Maldives Monetary Authority
- Myanmar – Central Bank of Myanmar
- Nepal – Nepal Rastra Bank
- New Zealand – Reserve Bank of New Zealand
- Pakistan – State Bank of Pakistan
- Russia – Central Bank of the Russian Federation
- Saudi Arabia – Saudi Arabian Monetary Agency
- Serbia – National Bank of Serbia
- Singapore – Monetary Authority of Singapore
- Sri Lanka – Central Bank of Sri Lanka
- Switzerland – Swiss National Bank
- United States of America – Federal Reserve System aka Federal
Reserve
European
Central Bank – Frankfurt, Germany
Central Bank – Frankfurt, Germany
President – Mario Draghi – Bank of Italy
Central
Banks under Eurosystem – European Central Bank
Banks under Eurosystem – European Central Bank
- Austria – Austrian National Bank
- Belgium – National Bank of Belgium
- Finland – Bank of Finland
- France – Bank of France
- Germany – Federal Bank of Germany
- Greece – Bank of Greece
- Ireland – Central Bank and Financial Services Authority of Ireland
- Italy – Bank of Italy
- Netherlands – Netherlands Bank
- Portugal – Bank of Portugal
- Slovakia – National Bank of Slovakia
- Slovenia – Bank of Slovenia
- Spain – Bank of Spain
Members of
the European System of Central Banks, but not of the Eurosystem:
the European System of Central Banks, but not of the Eurosystem:
- Bulgaria – Bulgarian National Bank
- Croatia – Croatian National Bank
- Czech Republic – Czech National Bank
- Denmark – National Bank of Denmark
- Hungary – Hungarian National Bank
- Poland – National Bank of Poland
- Romania – National Bank of Romania
- Sweden – Bank of Sweden
- United Kingdom – Bank of England
Note: As of 19.1.2015, People’s Bank of China holds the highest Forex reserve.
Swedish National Bank is the world’s oldest central bank. Bank of England, it is the second oldest central bank in the world. Only Andorra and Monaco are completely free of central banks.
Regards
Team ExamPundit
