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In carrying out foreign economic...

Автор: olegj от 9-05-2013, 18:09

In carrying out foreign economic...

In carrying out foreign economic function, the Bank of England on behalf of the Treasury conducts operations to manage the official foreign reserves, which in 1939 passed the equalizing Monetary Fund. The Bank of England conducts foreign exchange intervention to regulate the rate of the pound sterling and is actively involved on behalf of the government in the international monetary and financial institutions. The Bank of England is the banker of all other banks.

Almost all the country's banks have accounts with the Bank of England. The most important of them - the accounts of London clearing banks that hold a substantial portion of its cash reserves in the form of deposits with the Bank of England. Through the records of these accounts are governed calculations of banks with each other.

In carrying out foreign economic...

The Bank of England lends to the banking system or by buying debt from banks or through the mechanism of delivery of loans secured by government bonds. In 1979, the Banking Act for the first time in the history of Great Britain secured the Bank of England's statutory rights and duties under the supervision of the banking system. Prior to that regulation of credit institutions was carried out in the order of "gentlemen's agreements" between them and the Bank of England and the latter was based more on tradition than on the rule of law. Act 1987 expanded the rights and obligations of the Bank of England's supervision of the banking system.

In late 1997, it was announced the transfer of the functions of banking supervision by the Bank of England, the newly created supervisory authority. The Bank of England is the bank of the government. It has accounts of government and government agencies.

In carrying out foreign economic...

All revenues received by the government treasury account at the Bank of England, and the costs are covered from that account. The most important function of the Bank of England is the management of public debt. Although the Bank of England has in its portfolio a part of government obligations, most government requirements shall be satisfied by the market, ie placement of the Bank on behalf of the Treasury of state obligations on loan market. Current government spending financed by short-term loans of the state, which are the main tool of treasury bills.

Treasury bills are issued by the Bank of England on behalf of the Treasury each week, and their placement is partly through a bidding system between banks and brokers, in part at a fixed price between public law (ie, governmental) organizations, which include government and state-controlled savings banks, government insurance funds, Issue Department of the Bank of England and the Exchange Equalization Fund. In addition to treasury bills, short-term credit instrument are short-term government bonds. Short-term in the UK is considered to be bonds with a maturity of 5 years.

To meet long-term financial needs of the state issued long-term bonds (for more than 15 years). Most of the new issue of the bonds purchased by the Bank of England, which is then gradually selling them on the open market. A smaller portion of the bonds sold through the stock exchange mainly among non-financial companies. In parallel, the Bank is engaged in repurchase of bonds with maturities approaching.

The Bank of England is always ready to buy from the holders of bonds, if they mature occurs not later than a year. The Bank may buy bonds or offer instead a more long-term, ie implement the consolidation of public debt.

The Bank of England also produces the payment of interest on bonds, registered bonds of the central government, nationalized industries and some local authorities. Commercial banks England Commercial banks in the United Kingdom referred to as deposit banks. They form the basis of the banking system. Most of the operations of deposit banks is concentrated in 6 London clearing banks.

In carrying out foreign economic...

They are so called because they are members of the London Clearing House. Dominated by four "National Westminster", "Barclays", "Midland" and "Lloyd" (big four "). These banks are among the largest banks in the world. Deposit banks are often called "retail" because they serve not only industrial companies and financial institutions but also individuals perform both large and small transactions.

Modern deposit banks provide almost all kinds of banking operations. The main type of passive transactions - deposits, or deposits: demand deposits, time, savings. A special role in the national economy plays deposits, as based on these banks issue checks and other credit instruments of treatment.

Since the beginning of 1980. widespread practice of payment of interest on demand deposits.

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