Cambridge University Press 978-1-107-19310-9 — Sveriges
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Cambridge University Press 978-1-107-19310-9 — Sveriges Riksbank and the History of Central Banking Edited by Rodney Edvinsson , Tor Jacobson , Daniel Waldenström Index More Information Index ABN AMRO bank 249, 255, 257, 259 Asmussen, Jörg, ECB 412 Adenauer, Konrad, German Chancellor 396, Azzolini, Vincenzo, Banca d’Italia 310, 313 401 agio, premium on Amsterdam bank money Baffi, Paolo, Banca d’Italia 319, 321 244 Bagehot, Walter 163 Agricultural Cooperative Bank (ACB), China Lombard Street 26, 339 422, 423, 424 Baker, James, US Treasury Secretary 354 Agriculture Development Bank of China 425 Banca Commerciale, Italy 304, 311 Aldrich, Nelson, and founding of Federal Banca di Genova 300 Reserve 372 Banca di Napoli 301 American War of Independence 362 Banca di Sicilia 301 Amsterdam, and DNB 250 Banca d’Italia 5, 298–326 Amsterdam Exchange Bank (Wisselbank) and 1907 financial crisis 304–305 (1609) 4, 243–246, 260 and 1921 banking crisis 308 and banco florin 22 and 1970s banking crises 319 and bank money 244, and 1970s economic problems 318–321 collapse (1795) 246 autonomy 305, 307, 319, 320 as exchange bank 12 bailout of universal banks (1930–31) 311 governance 245 Bank Act (1893) 27, 301, 302 influence on earliest banks 95, 242 Bank Act (1926) 309 and Lehnebank 95 Bank Act (1993) and new legislation as lender of last resort 245 322–323 lending by 244 Banking Act (1936) 312–313 and payments system 244 amended (1946) 315 and price stability 245 as central bank 301–305, 312, 324–326 primary aims 242 and convertibility 303, 310 profits 244 credit rationing 307 as proto-central bank 9 currency stabilization (1920s) 308–310 relations with city, regional and state and cyclical imbalances 317 government 245 devaluations (1990s) 323 reputation 244 disposal of illiquid assets (1890s) 301–302 and suppression of private banking 246 and European Monetary Union 323 see also De Nederlandsche Bank (DNB); exchange rates 306, 307, 311, 316, 319, 321 Netherlands financial controls 315, 324 Andrew, Piatt 372 and First World War 305–307 Antwerp, recaptured by Spain (1585) 243 and foreign exchange markets 305 489 © in this web service Cambridge University Press www.cambridge.org Cambridge University Press 978-1-107-19310-9 — Sveriges Riksbank and the History of Central Banking Edited by Rodney Edvinsson , Tor Jacobson , Daniel Waldenström Index More Information 490 Index Banca d’Italia (cont.) Law of Autonomy (1994) 196, 198 and gold standard 303 Law of Discipline and Intervention of Credit governance 312 Institutions (1988) 195 and Great Depression 310–311 Law on the Governing Bodies (1980) 195 and inflation 306, 317, 318, 321 as lender of last resort and central bank inflation targeting 323 (1914–39) 185–190 and monetary policy 302–304, 315–316 liabilities 179 (figure), 181, 184 (figure), 187 monopoly note issue 309, 325 (figure) National Loans (First World War) 306 and Managing Society of Assets from Bank origins 299–301 Restructuring (2012) 201 and post-war economic policy 315–316, 325 and monetary policy (1874–1913) 182–185 relations with government 303, 306, 315, and monetary policy (1914–31) 189 320–321, 325 and monetary policy (1983–99) 197–198, reserves 310 199 (figure) staff 315, 317, 325 monopoly of note issue (1874) 14, 181 supervisory role 315 as national institution (1874–1913) 181–185 under Fascism 307–313 nationalization (1962) 193, 194 see also Italy origins 173–177, Banca Italiana di Sconto 308 overview 172–173, 201–202 Banca Privata Italiana 319 plurality of issue (1856–73) 177–181 Banca Romana 300 post-war regulation 190 collapse (1893) 5, 301, 302 regulatory measures (2012) 201 Banco Ambrosiano 319 relations with Treasury 173, 177, 187, 189, Banco de Barcelona 176 201 Banco de España 4, 172–202 sale of gold and silver reserves (1936) 190 assets 178 (figure), 181, 183 (figure), 186 and Stabilization Plan (1959) 192, 202 (figure), 195 (figure) state control (1939–62) 190–193 assets and banknotes 193, 194 (figure) see also Spain and bank failures (1920s) 188, 200 Banco de Isabel II, Madrid 176 and Banking Corporation (1978) 197 Banco de San Fernando (1829–55) 14, 175–177 Banking Law (1921) 187, 188 as government agent 175 Banking Law (1946) 191 merger with Banco de Isabel II 176 Banking Law (1962) 193 restructuring (1849 and 1851) 177 branches 177 Banco di Roma 308 as central bank in EMU 199 Banco Nacional de San Carlos (1782–1829) 4, and crisis of 1866: 178–180 173–175 Deposit Guarantee Funds 197, 201 and Spanish War of Independence depreciation of peseta (1890–95) 184 (1808–14) 174 (figure), 185 Treasury rescue (1829) 174 deregulation 196 Bank of Canada, counterfactual experiments and European Exchange Rate Mechanism 79–84, 80 (figure),82(figure),83(figure) (1989) 198 Bank Charter Act (1844) (UK) 147, 157 in European Monetary Union (1999–2017) suspension (1847) 158 199–201 Bank of China (1912) 420 and financial crisis (1970s-1980s) 196 Bank of Communications (China) (1908) 420 and financing of Civil War 190 Bank deutscher Länder (BdL) (1948–58) 7, Fund for the Orderly Restructuring of the 394–395 Banking Sector (FROB) (2009) 201 and Bundesbank 397 and Great Depression 188 independence 396 inflation targeting (from 1995) 198 Bank of England 3, 143–170 and integration of financial market 181 1742 Act 144 © in this web service Cambridge University Press www.cambridge.org Cambridge University Press 978-1-107-19310-9 — Sveriges Riksbank and the History of Central Banking Edited by Rodney Edvinsson , Tor Jacobson , Daniel Waldenström Index More Information Index 491 1979 Act 167 Bank of Japan Act (1942) 345 and 2007/8 crisis 168 amendment (1949) 349 as agent and adviser to government 148 Bank of Japan Act (1998) 353, 354 assets and banking reforms 341 as percentage of broad money supply 145 and Bretton Woods system 349, (figure) as central bank 338–339 as proportion of GDP 145 (figure) chronology 329 (Table) balance sheet 155 (Table) and coordination of international policies banknote issue 146, 156–157 353 Banks and Money Market Supervision and financial instability (1990s) 354–355 (1974) 167 financial liberalization (1980s) 353–354 as central bank 156 financial regulation 351 as commercial bank 154–156 financial repression (from 1937) 345 Court of Directors 156, 159 financing 1960s economic growth 350 currency to deposit ratio 157, 158 (figure) (figure), 350–352, 351 (figure) debt and cash flow management 150–152 foundation (1882) 27 and financial crises 147 and gold standard 340, 343 foundation (1694) as joint-stock company governance and goals 345, 349 18, 143, 144 and interest rates 339, 342 (figure) and Fringe Bank crisis (1973/4) 164, 165, as lender of last resort 339, 355 166 and liquidity 339, 357 gold losses (1927) 376 loans to private sector 342, 343 (figure) governance 144–150 money stock 356 (figure) Governors 160 monopoly of note issue (1884–5) 15, 338 inflation targeting 154 and National Bank of Belgium model 337 and international regulation 167 and Public Finance Act (1947) 348 as lender of last resort 27, 162–164 quantitative easing (2001–2006) 355, 356 life-boat rescues (1973/4) 164 (figure) and macro-monetary policy 152–154, 164 and Second World War 346 management of payment system 161–162 as semi-public institution 337 and monetary policy 147, 153 and silver standard 338 monopoly of note issue (1844) 14, 157 and war finance 328 nationalization (1946) 149 “window guidance” 351, 353 Parliamentary Charter 144 zero-interest rate policy (1999–2000) 355 private deposits 155 see also Japan profits (seigniorage) 146, 158 Bank of Japan Act (1882) 18 relations with London banks 161 Bank Laws (1824–64) (Sweden) 108 relationship with government 143, 147, Bank of North America (1781–83) 362 148–150 Bank of Norway see Norges Bank and rescue of Barings Bank (1891) 28, 156, Bank Rate Tribunal (1955) 160 163 Bank of Spain see Banco de España resolution of bank failures 169–170 Bank van Leening (1614) 246 and shareholders 158–159 bankers’ bonuses 169 staff 160 Banking School 146 supervision of banks 164–169 real bills theory 164 and Treasury Select Committee 161 banknotes see also United Kingdom and bills of exchange 211 Bank of International Settlement (BIS) 252 convertibility (France) 213 Bank of Japan 5, 328–357 and counterfeiting 157 and 1923 Showa financial crisis 341 monopoly issuance 14 Bank of Japan Act (1882) 336–338 private 10, 14 © in this web service Cambridge University Press www.cambridge.org Cambridge University Press 978-1-107-19310-9 — Sveriges Riksbank and the History of Central Banking Edited by Rodney Edvinsson , Tor Jacobson , Daniel Waldenström Index More Information 492 Index banknotes (cont.) risk management 216 Treasury issue (Bradbury) (UK) 148 Second World War debt overhang 231 see also paper money sinking funds 207, 210 Banque de France 4, 14, 17, 27, 207 and sovereign debt 206 banking crisis (1930–33) 229 statute (1808) 216 Banking Law (1806) 210 see also France Banking Law (1936) 230 Banque Générale Privée (1716–20) 17, 208 banknote monopoly (1803) 209 Baring, Sir Francis 162 branches outside Paris 219 Barings Bank, rescue (1891) 28, 156, 163 as central bank 206, Basel Committee on Banking Supervision and convertibility (of banknotes) 213, 214 (1974) 167 (figure) Basel I Accord 167 creation (1800) 206, 208 Basel II Accord 167, 168 crises (19th century) 234, 235 (Table) BCCI (Bank of Credit and Commerce per decade 220 (Table) International) 167 crisis management 217 Bear Stearns investment bank 382, 383 defaults of financial intermediaries 27, Belgium, secession from Netherlands (1834) 221–223, 222 (figure) 248 deliquency rates on bills 221, 222 (figure)