Differences among Bank of Canada, the Bank of England, and the Bank of Japan - Essay Example

Add to wishlist

Summary

This bank was established on July 3, 1934 through the Bank of Canada Act. During this time, it was a privately owned corporation. Later in 1938, the bank changed a Crown corporation that the monarch in Canada right owned the…

Download full paper File format: .doc, available for editing

GRAB THE BEST PAPER96.1% of users find it useful

Differences among Bank of Canada, the Bank of England, and the Bank of Japan

Read Text Preview

Subject: Finance & Accounting
Type: Essay
Level: Masters
Pages: 1 (250 words)
Downloads: 8
Author: qpfannerstill

Extract of sample "Differences among Bank of Canada, the Bank of England, and the Bank of Japan"

Differences among Bank of Canada, the Bank of England, and the Bank of Japan The bank of Canada is the nation’s central bank. This bank was established on July 3, 1934 through the Bank of Canada Act. During this time, it was a privately owned corporation. Later in 1938, the bank changed a Crown corporation that the monarch in Canada right owned the corporation. The Minister of Finance owns the corporation because the Minister of Finance of Canada holds the bank’s entire capital share (Yasin, 2013).

The Bank of England was founded to function as the Government banker of the English. The bank still functions as the banker for HM government. In 1694, the bank operated from its foundation, and it was privately owned. However, the bank has since become independent becoming a public organization. The Treasury Solicitor owns the bank on behalf of the Government. In addition, the Treasury Solicitor has independence in monetary policy (Yasin, 2013).The bank of Japan, BOJ had its reorganization after the post-war time in 1942.

The bank was independent and operated independently. The BOJ had its own monetary and controlled its credits. The bank had considerable independence that lead to losing of its accountability leading to promulgation of the Japan law. The BOJ controlled the monetary and currency, which controlled the economy. The government maintains a close relationship with the bank. The government helps the bank in managing the currency and monetary aspects of the bank (Yasin, 2013). The main difference among the three banks is the ownership and control of the banks.

The Canada Minister of Finance owns the bank of Canada. He owns the bank behalf of Her Majesty in right. The Treasury Solicitor on behalf of the Government owns the Bank of England. The Bank of Japan is independently owned, and the government maintains a close relationship to help the bank in its currency and monetary aspect (Yasin, 2013).ReferenceYasin, A. (2013). The Banks Today and Tommorrow. The Dawns, 13-16.

Cite this document

APA
MLA
CHICAGO

(“Differences among Bank of Canada, the Bank of England, and the Bank of Essay”, n.d.)
Differences among Bank of Canada, the Bank of England, and the Bank of Essay. Retrieved from https://studentshare.org/finance-accounting/1617125-differences-among-bank-of-canada-the-bank-of-england-and-the-bank-of-japan

(Differences Among Bank of Canada, the Bank of England, and the Bank of Essay)
Differences Among Bank of Canada, the Bank of England, and the Bank of Essay. https://studentshare.org/finance-accounting/1617125-differences-among-bank-of-canada-the-bank-of-england-and-the-bank-of-japan.

“Differences Among Bank of Canada, the Bank of England, and the Bank of Essay”, n.d. https://studentshare.org/finance-accounting/1617125-differences-among-bank-of-canada-the-bank-of-england-and-the-bank-of-japan.

Cited: 0 times

CHECK THESE SAMPLES OF Differences among Bank of Canada, the Bank of England, and the Bank of Japan

Exchange rate systems

he subsequent literature showed that insulating properties depend on some structural characteristics,as well as the types and the sources of shocks impinging on the domestic economy… The monetary theory of the balance of payments emphasized the differences in macroeconomic adjustment under fixed versus flexible exchange rates.... The monetary theory of the balance of payments emphasized the differences in macroeconomic adjustment under fixed versus flexible exchange rates....

5 Pages (1250 words) Essay

How Does Price Serve as a Rationing Mechanism in a Market Economy

The equilibrium price and quantity is determined by the interaction of demand and supply.... The demand curve of a consumer for a product reflects the behaviour of its marginal utility.... By the horizontal… On the other hand the supply curve of each producer reflects the behaviour of his marginal cost....

13 Pages (3250 words) Coursework

Evolution of International Financial Structure and Its Impact on the Present Financial Crisis

Deregulation of banking sectors and capital markets in OECD countries and especially in… countries (the United Kingdom, the United States, Canada, Germany, japan, France and Italy) began in right earnest from this time and it resulted in sharp growth of the overall size of financial superstructure.... The balance sheets of commercial banks exhibited rapid increase during the entire eighties decade but started showing signs of slowing down in the first half of nineties as interest differences tended to taper off and banks started depending more and more on fees as their primary source of income....

10 Pages (2500 words) Term Paper

International Money and Capital Markets

The author in the article has recognized four main factors that had a strong influence on the movement of exchange rate, namely, difference in economic growth profile among countries, relative price level, trade flow among countries and prevailing interest rate.... hellip; One of the important aspects of an economy that highlights its growth prospect in context of international business is gross national product or gross national income....

8 Pages (2000 words) Research Paper

China Builds Financial Ties to Neighbors

In the meanwhile bank of england committee in its own report after investigation rejected any involvement of any official of bank of england in unlawful or improper act in the market, or with Forex traders (Ember, 2014).... judge hits RBC with $76 million in damages tied to Rural/Metro dealDelaware Court of Chancery Vice Chancellor said Royal bank of canada ought to pay $75.... as around 22,000 engineers in japan already work on Boeing Jets....

3 Pages (750 words) Coursework

Bailout Package and the Stimulus Packages

In the paper “Bailout Package and the Stimulus Packages,” the author focuses on the bailout package and the stimulus packages announced by the US government to provide relief to the banks and financial institutions having toxic assets on their balance sheets.... hellip; The author states that as the value of the homes depreciated and the housing market began to bottom out, banks were left with billions of dollars worth of mortgages that were foreclosed resulting in losses to the banks....

11 Pages (2750 words) Dissertation

How the Process of Law Making Differs between Common Law and Civil Law Systems

When the parliament of england was established, the royal judges were already basing their decisions on law “common” to the realm (Messitte 1999).... Common law system countries include the United States, England, India, and Canada, among others, while civil law system countries include China, japan, France, Spain, and Germany, among others.... "How the Process of Law Making Differs between Common Law and Civil Law Systems" paper seeks to explain the differences between the law-making processes in common law and civil law, and identify the advantages and disadvantages of the two legal systems....

6 Pages (1500 words) Coursework

Is It In U.S. Interests to Sign the Kyoto Protocol to Reduce Carbon Emissions

As a result of these misunderstandings, developed countries like the United States, Canada, japan, and Russia decided to reject the Kyoto Protocol obligations.... This process, directed by the World Trade Organization (WTO), creates a loss of competition and leakage among developed country signatories....

5 Pages (1250 words) Annotated Bibliography