Federal Bank of Aumarea
| Headquarters | Kosa Federal District |
|---|---|
| Established | 4 March 2023 |
| Ownership | Government Owned |
| Governor | Vacant |
| Central bank of | Aumarea |
| Currency | UF dollar ($) |
The Federal Bank of Aumarea, sometimes known as the Bank of Aumarea, is the central bank of the United Federation of Aumarea. It was established on 4 March 2023 and is government owned. It is the oldest bank in Aumarea.
Purpose
The primary purpose of the bank is the printing of money when the federal treasury requests it, and setting interest rates.
Other duties of the bank include:
- Addressing Bank Panics
- Serving as a Central Bank for the United Federation
- Manage Monetary Supply through Monetary Policy
- Maintain Economic Stability
- Strengthening the United Federation in the Economic World
Structure
The federal bank is governed by a Board of Directors. By convention, each state gets one director on the board. The head of the bank is the Governor, who is appointed by the President of Aumarea with Senate advice and consent. The bank also has authorisation to establish sub-divisions of the bank to serve in each state.
History
The federal bank was founded on 4 March 2023, after the United Federation Dollar was established as the currency of Aumarea. It is the oldest and only federal bank in Aumarea.