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Imperial Bank of

The central bank of, established with the signing of the Banking and Finances Act by President Sargon on January 27, 2009. As of January 30, 2009, the Imperial Bank has no members and has not yet begun operations.

Powers of the Imperial Bank

The powers of the Imperial Bank of are defined by Section 3, Paragraph A of the Banking and Finances Act:

  • “[The Imperial Bank] will manage the supply of currency [the Ianite Dollar (IDL)] into and out of circulation.”
  • “[The Imperial Bank] will also have the authority to regulate interest rates in the best interests of the economy.”

The Board of Directors of the Imperial Bank

The Imperial Bank is run by a Board of Directors consisting of ten Directors, the Chancellor of the Exchequer, and non-voting representatives of the territories. Directors are chosen by Parliament and then confirmed by a simple majority. The Chief Director is chosen from one of the already confirmed Directors and must be confirmed in that position by a 2/3 majority of Parliament.

Besides acting as the Chairman of the Board of Directors, the Chief Director is also the face of the bank, representing the Imperial Bank at all public and governmental events.

The Chancellor of the Exchequer is a member of the Cabinet of and head of the Office of the Treasury, appointed by the President and confirmed by Parliament. He or she is considered a “secondary member” of the Board, sitting in at all meetings and having the right to speak. The Chancellor does not normally have the right to vote on any decisions within the Board of Directors, but may cast a vote in the case of a tie.

Section 3, Paragraph D gives each territory the right to send a one representative to the Board of Directors who has speaking privileges, but no voting rights.

Current Board of Directors

No Directors have been appointed to the Board of Directors as of January 31, 2009. The current Chancellor of the Exchequer is Keenir of the Evil Party.

See Also

offtopic/ · Last modified: 2019/03/29 15:13 (external edit)