Title Central bank losses and experiences in selected countries / prepared by John Dalton and Claudia Dziobek

Published [Washington, D.C.] : International Monetary Fund, Monetary and Financial Systems Dept. and Statistics Dept., 2005

Click on the following:
IMF eLibrary

Copies

Description 1 online resource (13 pages) Series IMF working paper ; WP/05/72 IMF working paper ; WP/05/72. Contents Contents -- INTRODUCTION -- I. IMPLICATIONS OF LOSSES FOR CENTRAL BANK POLICY AND TRANSPARENCY -- II. FACTORS AFFECTING CENTRAL BANK PROFITS AND LOSSES -- III. SPECIFIC LOSS EXPERIENCES -- IV. ACCOUNTING PRINCIPLES FOR THE TREATMENT OF CENTRAL BANK LOSSES -- V. LEGISLATIVE PRACTICES FOR COVERAGE OF CENTRAL BANK LOSSES -- REFERENCES Summary Under normal circumstances, a central bank should be able to operate at a profit with a core level of earnings derived from seigniorage. Losses have, however, arisen in several central banks from a range of activities including monetary operations under extreme conditions and financial sector restructuring. The paper discusses the impact of losses on central bank operations and lays out the principles and practices for handling central bank losses. It is suggested that losses should be disclosed as a reduction of the central bank's net worth unless covered by the government. Governments may cover losses through recapitalization of the central bank, and this will create a new central bank asset, usually in the form of government securities held by the central bank. Six case studies illustrate the circumstances under which losses may arise, their coverage, and central banks' disclosure practices Bibliography Includes bibliographical references (page 13) Notes 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 MiAaHDL English digitized 2010 HathiTrust Digital Library committed to preserve pda MiAaHDL Print version record Subject Banks and banking, Central. Banks and banking -- Accounting. Disclosure in accounting. Banks and banking -- Accounting Banks and banking, Central Disclosure in accounting Form Electronic book Author Dziobek, Claudia Helene, 1956- author. International Monetary Fund. Monetary and Financial Systems Department and Statistics Department ISBN 1283511924 9781283511926 9781451906271 1451906277 1462339743 9781462339747 1451986351 9781451986358 9786613824370 6613824372

  Permalink