National Bank of Sabia and Verona

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National Bank of Sabia and Verona
dogagruña sabiann i veronann


Dogashebanke.png

Headquarters Darmosari, Alios
Established 2015
Chair Hidram Cerwyn
Central bank of Kingdom of Sabia and Verona
Currency Groxi (SVG)
Reserves SVG 1150

The National Bank of Sabia and Verona (Sabian: dogagruña sabiann i veronann), often simply known as aigruñán ("the Big Bank") is the central bank of the Kingdom of Sabia and Verona. It is one of four government-owned agencies in Sabia and Verona and is administered by the Commerce Division (the Ministry of Finance). In addition of being the Kingdom's central bank, it also works as a Sabia and Verona's only commercial bank.

Officially, it's categorized as a 4T gaki, a "fourth-type body", meaning it's an institution directly dependent on a government division and thus is considered a part of the state.

History

Before the creation of the Dogashebanke in 2015, most of the Sabioveronese government's reserve money was stored in the Royal Arks of Sabia and Verona, the Crown's private reserve. Although a Bank of Sabia and Verona (in Middle Sabian, Banke Sâbixann ê Veronas; BSIV) had existed since 2013 by decree of Prime Minister Osez Kóvérsz, the institution had been completely dormant as its first and only Governor, Guido Vogelauge, had not been properly authorized by the Karasal Council to head the organization. The Royal Arks, established in 2014 with the accession of Queen Isadora to the throne, marked the beginning of the Kingdom's dependency on the Monarchy to store its money.

On 8 November 2015, Prime Minister Shounn Virny formally established the National Bank of Sabia and Verona, naming businessman and former CEO of the Sabioveronese Starlynn & Co. enterprise Emmanuel Maghos Starlynn as Chair, with the purpose of achieving "true economic independence".[1] When Starlynn became Secretary of Commerce in the 9th government, Hidram Cerwyn became Chair of the bank.

Functions

  • Formulating and implementing monetary policy
  • Issuing banknotes
  • Managing candy and foreign-exchange reserves
  • Acting as banker to the government
  • Acting as lender of last resort in exceptional circumstances

See also

References

  1. Virny: "Economic development is my goal". The SiV Phonograph. 8 November 2015. Retrieved 1 October 2017.