Imperial Bank of Lehmark
|Imperial Bank of Lehmark|
|Established||19 April 2019|
|Headquarters||Lehmark Capital State|
|Governor of the Imperial Bank of Lehmark||William Lehman I, Emperor and Autocrat of Lehmark|
The Imperial Bank of Lehmark was founded as an Agency of the Department of Treasury and to act as the Central Bank of Lehmark. Since the Imperial Banks founding is has expanded to provide Empire-wide services, such as currency management and banking services - with the intent to expand into a Currency Exchange in the future.
Currently, the Imperial Bank also manages financial activities for the Department of Treasury which includes the responsible payment of Universal Basic Income to all Citizens and Imperial Government Wages, and Deduction Taxes. This is all conducted through an efficient automatic online system.
As part of currency management, the Imperial bank has coordinated large purchases of Silver Bullion in order to firmly establish the Imperial Florin as an active currency with a value that can one day be used outside of the Empire for legitimate purchases of goods and services. During 2020 the printing of physical Florin Notes will begin, and later in the year, the minting of silver-plated coins.
His Imperial Majesty William the First, Emperor and Autocrat of Lehmark has been quoted many times saying:
"Sound financial and economic policy will always lead to a stable and prosperous nation this is why the stability of silver bullion and the establishment of a Silver Standard has aided in the foundation of successful economic policy in Lehmark"
The services provided by the Imperial Bank of Lehmark has allowed the Empire to progressively build one of the most advanced financial and currency platforms in the micronational world.
Bank Account Services
From 19 April 2019 - 1 July 2020, Personal Bank Accounts were created for all new Citizens who became such via Application. If you have lost your banking details please contact the bank at the email address provided above. All Citizens who become such via Application or birth from 1 July 2020 need to apply for a Personal Bank Account using the below Form. From 1 July 2020, all new Citizens are entitled to receive a cash payment of 1,000f and thus require a Personal Bank Account to receive it.
All company's who register in Lehmark and conduct business via Imperial Florin, need to have a Business Bank Account registered with the Imperial Bank of Lehmark. Companies can use the below form to apply.
All Citizens of Lehmark who are employed either in the Imperial Government or a private business and are paid via Imperial Florin are also required to have a Personal Bank Account to receive their wages/salaries.
Services Provided by a Bank Account:
- Direct Payment
- Automatic Transactions
Currency in The Empire
The Constitution of the Empire of Lehmark formally recognises two official currencies, the Imperial Florin (f ) and the Australian Dollar (AUD).
The Imperial Florin is the primary currency used internally within the Borders of Lehmark and is used to purchase goods and services offered by the Imperial Government and private companies in Lehmark. Imperial Government uses Imperial Florins when paying the wages of Citizens who are employed within the Imperial Government. The Imperial Florin comes in the denominations of 50f, 20f, 10f, 5f, 2f, 1f.
Silver Standard Development
Starting in October 2019 the Empire converted to a Silver Standard, this was achieved via the Imperial Bank who coordinated purchases of silver bullion. The usage of a silver standard gives the Imperial Florin a "real world" value, and could potentially allow for purchases of goods and services outside of Lehmark in the future.
Between October 2019 and February 2020, the Imperial Government owned a total of 228.6 troy oz of silver bullion bars and this allows Lehmark to currently peg the value of 1 Florin to 0.00711g of silver.
As a result of the introduction of the silver standard, a Currency Balance took place which meant a reduction in wages, government expenses and taxes. A total of 1,000,000f remain in circulation to allow for the current value of Florin to Silver.
The ultimate goal would be to purchase a total of 20kgs of silver (roughly 645 troy oz) and peg 1f to 0.02g of silver.
The Lehmark Foreign Exchange was developed for the purpose of currency exchange, both micronational and macronational. It is expected by the end of by 2022, that the Lehmark Foreign Exchange, will offer an exchange in 4 currencies, namely:
- Imperial Florin
- Australian Dollar
- Draculian Mark
- Japanese Yen
Currently, the Lehmark Foreign Exchange is limited to exchange of Australian Dollar to Imperial Florin.
The Imperial Bank of Lehmark currently oversees and manages the Lehmark Foreign Exchange as part of its duties in currency management. As part of its duty in Lehmark, the Imperial Bank produced a total 4,224f of physical notes, or in other words, 48 notes of each denomination. It is expected that by the end of 2020 this amount will increase to 15,000f.
Second, to the production of notes, the Imperial Bank has also understood the development of a 200 Imperial Florin silver plated zinc alloy coin. The coins are expected for delivery by the end of August 2020 and will be available in the exchange in early September 2020. A combo deal for Coins and Notes will also be made available.
All prices shown in the Lehmark Foreign Exchange are AUD. Free standard shipping on all items inside Australia.