First Bank emerged 300 years ago

First Bank arose 300 years ago (the Swedish Riksbank in 1668), but widespread and present value are purchased only in the last decade of XX century. Historically there were two ways of formation of central banks. Some of them have become central to the result of a long historical evolution. This occurred mainly in countries where capitalist relations have been established relatively early (in the middle of the XIX - early XX century). Thus, the Bank of England began issuing center in 1844, the Bank of France - in 1848, the Bank of Spain - in 1874 the era of state monopoly capitalism was a great development process of nationalization of central banks which formerly had the status of stock. Nationalization of the joint-stock banks have accelerated the economic crisis of 1929-1933 and World War II, the tendency of state monopoly of economic development. In 1938 the state was founded Bank of Canada, in 1942 - the Bank of Japan, in 1946 - the Bank of England and Bank of France. Other banks (federal U.S. banks, formed in 1913, central banks in many Latin American countries) from the beginning were established as emission centers. After the Second World War created the state issuing institution in Germany - Bundesbank (1957) and Austria - The Reserve Bank of Austria (1960). Under current conditions in most countries, central banks, in fact, are public, even in cases where no formal state-owned. For example, the state owns only a portion of the capital of Swiss National Bank, 55% of the capital of the Bank of Japan, 50% of the capital of the National Bank of Belgium. Today, the central bank - a key element of the monetary system of any developed country. He performs the official guide monetary policy. In turn, monetary policy, together with the budget is the foundation of all state economic regulation. Category: Klasifikatsiya real estate | Tags: First Bank