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the tools of monetary
open market operations
dynamic
defensive open open market operations
market operations

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discount policy

the lender of last resort


Milton Friedman
the penalty discount
concept

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Quantitative Tools

selective credit controls


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market value
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Florenc Genova
<<devialta Banca della piaza>>
Banco Bank
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Central Bank
Concept Organization and Specification 1.5
Central Bank

Central Bank Organization

National Bank Bank of Issue

Riks Bank
Bank of England
The Art
of Central Banking
Custodian

Lender Last Resort


Central Bank Specification

Federal Reserve Board


Central Bank Functions

Monetary Issue
Surveillance on Bank Credit
Central Bank Government Bank
Central Bank Lender of Last Resort
d
The
Lender of Last Resort

Required Legal
Reserve
Clearing House

Central Bank Budget

Assets

Liabilities

xxx
xxx
xxx xxx
xxx xxx
xxx xxx
xxx xxx

xxx xxx
xxx xxx
xxx xxx
xxx
Liabilities

Money Reserve

High Monetary Base


Power Money

Government Deposit
Foreign Liabilities

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Capital Accounts

Other Liabilities

Assets

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Foreign Assets

Claims On Government
Claims on Commercial Banks

Claims on other Financial


Institution

Other Assets

Central Bank and Monetary Policy


Quantity Control on Bank
Credit

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Discounting Prices Policy

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Open Market Operations
Required Legal Reserve
Ratio

Qualitative Control On Bank


Direct Control on Credit
D.C. & O
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1. Roger LeRoy Miller & Robert W. Pulsinelli, Modern


Money & Banking, McGraw-Hill International Editions,
Finance Series, Second Edition, 1989
2. Michelle de Mourgnes, La Monnaie système Financier,
Thèorie monetaire, Economica, 1988
3. Andrei Gromyko, The Overseas Expansion of Capitals,
Progress capital, Moscow, 1982
4. T.T. Sethi, Money Banking and International Trade, Ram
Nager, New Delhi, 1992
5. Thomes Mayer, James S. Duesemberry, Robert Z Aliber,
Money, Banking & the Economy, Third Edition, 1987
6. Jones Prager, Fundamentals of Money, Banking &
Financial Institutions, Happer & Row Publishers, New
York, 1982
7. Harold G. Moulton and Leo Rasvolsky, War debts and
World property, The Century Co. for the Brooking
Institution, New York, 1932. P. 91
8. R.A. Lester, Monetary Experiments: Early American &
Recent Scandinavian, Princeton University Press, 1939

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