Do central banks need capital? /

Do central banks need capital? /

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Bibliographic Details
Author / Creator:	Stella, Peter, 1957-
Imprint:	[Washington, D.C.] : International Monetary Fund, Monetary and Exchange Affairs Dept., ©1997.
Description:	1 online resource (39 pages) : illustrations
Language:	English
Series:	IMF working paper, 2227-8885 ; WP/97/83 IMF working paper ; WP/97/83.
Subject:	Banks and banking, Central. Bank capital. Banks and banking, Central -- Accounting. Bank capital. Banks and banking, Central. Banks and banking, Central -- Accounting.
Format:	E-Resource Book
URL for this record:	http://pi.lib.uchicago.edu/1001/cat/bib/12497289

Hidden Bibliographic Details
Other authors / contributors:	International Monetary Fund. Monetary and Exchange Affairs Department.
ISBN:	1451896670 9781451896671 1281600466 9781281600462 1462329799 9781462329793 145272301X 9781452723013 9786613781154 6613781150
Notes:	Includes bibliographical references (pages 37-39). Restrictions unspecified Electronic reproduction. [Place of publication not identified] : HathiTrust Digital Library, 2010. Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002. http://purl.oclc.org/DLF/benchrepro0212 English. digitized 2010 HathiTrust Digital Library committed to preserve Print version record.
Summary:	Recently, central banks in such diverse countries as Ghana, Bolivia, Uganda, El Salvador, and the Philippines have been recapitalized and the issue is under active discussion in others where central bank losses have become problematic, e.g., Costa Rica, Guatemala, Haiti, Honduras, Hungary, Jamaica, Liberia, Peru, Romania, Sierra Leone, Tanzania and Zambia. In some cases, the underlying problem was obscured by the practice of declaring and transferring sizeable profits to government, although under more careful accounting practice, large losses would have been recognized and the transfers suspended or reversed. Ignorance or neglect of this situation over a sustained period of time led to a deterioration of the balance sheet to a point where further losses became virtually inevitable. These losses eroded central bank independence and made the effective conduct of monetary policy difficult or impossible.
Other form:	Print version: Stella, Peter, 1957- Do central banks need capital? [Washington, D.C.] : International Monetary Fund, Monetary and Exchange Affairs Dept., ©1997
Standard no.:	10.5089/9781451896671.001