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Book Cover
Author Dalton, John, author

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
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Description 1 online resource (13 pages)
Series IMF working paper ; WP/05/72
IMF working paper ; WP/05/72
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. MiAaHDL
digitized 2010 HathiTrust Digital Library committed to preserve pda MiAaHDL
Print version record
Subject 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