Difference between revisions of "Christian Reserve System"

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{{Infobox central bank
 
{{Infobox central bank
 
| bank_name_in_local = Christian Reserve System
 
| bank_name_in_local = Christian Reserve System
| headquarters = {{nowrap|[[League of Christian Nations Headquarters]], [[Galveston, Texas]], U.C.S.}}
+
| headquarters = [[League of Christian Nations Headquarters]]<br/>[[Galveston, Texas]], U.C.S.
 
| established = 2012
 
| established = 2012
 
| president = Charis Martin
 
| president = Charis Martin
 
| leader_title = President
 
| leader_title = President
| bank_of = [[Region/League_of_Christian_Nations|League of Christian Nations]]
+
| bank_of = [[League of Christian Nations]]
 
| currency = [[Christian Dollar]]
 
| currency = [[Christian Dollar]]
 
| currency_iso = CD
 
| currency_iso = CD
 
| borrowing_rate = 0.15% to 1.25%
 
| borrowing_rate = 0.15% to 1.25%
| website = {{URL|christianreserve.lcn.gov/}}
+
| website =
 
| footnotes =
 
| footnotes =
 
| interest_rate_target = 0 to 0.25%
 
| interest_rate_target = 0 to 0.25%

Latest revision as of 18:34, 14 January 2015

Christian Reserve System
Christian Reserve System
Headquarters League of Christian Nations Headquarters
Galveston, Texas, U.C.S.
Established 2012
President Charis Martin
Central bank of League of Christian Nations
Currency Christian Dollar
CD (ISO 4217)
Bank rate 0.15% to 1.25%
Interest rate target 0 to 0.25%
Interest on reserves 0.25%

The Christian Reserve System (also known as the Christian Reserve is the central banking system of the League of Christian Nations. It was created 2012, with the enactment of the Christian Reserve Act. It was transferred under the control of the LCN's Christian Dollar Regulatory Advisory Board(CDRAB) in 2014 in response to the growing adoption of the currency internationally.

The U.C.S. Congress established three key objectives for monetary policy in the Christian Reserve Act, upheld by the CDRAB: Maximum employment, stable prices, and moderate long-term interest rates. Its duties have expanded over the years, and today, according to official Christian Reserve documentation, include conducting the regions's monetary policy, supervising and regulating banking institutions, maintaining the stability of the financial system and providing financial services to depository institutions, the LCN government, and national official institutions. The CRS also conducts research into the economy and releases numerous publications, such as the Blue Book.

The Federal Reserve System's structure is composed of the regionally elected CDRAB (or Christian Reserve Board), the Christian Open Market Committee (COMC), twelve regional Christian Reserve Banks located in major cities throughout the region, numerous privately owned LCN member banks and various advisory councils. The COMC is the committee responsible for setting monetary policy and consists of all members of the Board and the twelve regional bank presidents, though only five bank presidents vote at any given time (the president of the Dallas, Texas CRB and four others who rotate through one-year terms). The Federal Reserve System has both private and public components, and was designed to serve the interests of both the general public and private bankers. The result is a structure that is considered unique among central banks. According to CDRAB, the Christian Reserve System "is considered an independent central bank because its monetary policy decisions do not have to be approved by the Secretary-General or anyone else in the executive or legislative branches of government, it does not receive funding appropriated by the Parliament.

The authority of the Christian Reserve System is derived from statutes enacted by the Parliament and the System is subject to executive oversight. The members of CDRAB, including its president, elected out of the members of the CDRAB. The regional government sets the salaries of the Board's members. The LCN Government receives all of the system's annual profits, after a statutory dividend of 6% on member banks' capital investment is paid, and an account surplus is maintained. In 2013, the Christian Reserve made a profit of $82 billion and transferred $79 billion to the Treasury of the Union of Christian States.

Purpose

The Christian Reserve is charged with a number of broad responsibilities, including fostering a sound banking system and a healthy economy. Other purposes are stated to furnish an elastic currency, to afford means of rediscounting commercial paper, to establish a more effective supervision of banking in the United States, and for other purposes.

Current functions of the Christian Reserve System include:

  • To address the problem of banking panics
  • To serve as the central bank for the League of Christian Nations
  • To strike a balance between private interests of banks and the centralized responsibility of government
    • To supervise and regulate banking institutions
    • To protect the credit rights of consumers
  • To manage the region's money supply through monetary policy to achieve the sometimes-conflicting goals of
    • maximum employment
    • stable prices, including prevention of either inflation or deflation
    • moderate long-term interest rates
  • To maintain the stability of the financial system and contain systemic risk in financial markets
  • To provide financial services to depository institutions, the LCN government, and national official institutions, including playing a major role in operating the region's payments system
    • To facilitate the exchange of payments among regions
    • To respond to local liquidity needs
  • To strengthen LCN standing in the world economy