金融市场与金融机构基础英文版第4章.ppt

* * * * * * * * * * * * * * * * * * Copyright ? 2010 Pearson Education, Inc. Publishing as Prentice Hall Copyright ? 2010 Pearson Education, Inc. Publishing as Prentice Hall Copyright ? 2010 Pearson Education, Inc. Publishing as Prentice Hall Copyright ? 2010 Pearson Education, Inc. Publishing as Prentice Hall Copyright ? 2010 Pearson Education, Inc. Publishing as Prentice Hall The U.S. Federal Reserve and the Creation of Money Chapter 4 Copyright ? 2010 Pearson Education, Inc. Publishing as Prentice Hall * Central Banks and Their Purpose Monetary authority Reserve banks Many countries have central banks European Central Bank The objective of the monetary policy is to maintain the stability of the value of the currency and thereby promote economic growth. Copyright ? 2010 Pearson Education, Inc. Publishing as Prentice Hall * Functions of Central Banks Bank of England -BOE Risk assessment Risks reduction Oversight of payment systems Crisis management Copyright ? 2010 Pearson Education, Inc. Publishing as Prentice Hall * The Peoples Bank of China (PBC) was established on December 1, 1948 based on the consolidation of the Huabei Bank, the Beihai Bank and the Xibei Farmer Bank. In September 1983, the State Council decided to have the PBC function as a central bank. The Law of the Peoples Republic of China on the Peoples Bank of China adopted on March 18, 1995 by the 3rd Plenum of the 8th National Peoples Congress has since legally confirmed the PBCs central bank status. Copyright ? 2010 Pearson Education, Inc. Publishing as Prentice Hall * 　With the improvement of the socialist market economic system, the PBC, as a central bank, will play an even more important role in Chinas macroeconomic management. The amended Law of the Poples Republic of China on the Peoples Bank of China, adopted by the 6th meeting of the Standing Committee of the 10th National Peoples Congress on December 27, 2003, provides that the PBC performs the following major functions: