Criteria for Central Bank assets: lessons from Pre-ECB France

The Banque de France was founded in 1800 to discount bills and issue currency. The Banque's final monetary policy objective was price stability, with growth of a broad monetary aggregate and a stable exchange rate as intermediate objectives. The Banque de France had the right to buy and sell Tr...

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Bibliographic Details
Published in:New England economic review 2002-01, p.33
Main Author: Nelson, William R
Format: Article
Language:English
Subjects:
Agreements
Annual reports
Bank reserves
Banking industry
Central banks
Deposit banking
Federal Reserve monetary policy
Finance companies
History
Monetary policy
Money markets
Repurchase agreements
Reserve assets
Reserve requirements
Treasuries
Treasury bills
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Summary:The Banque de France was founded in 1800 to discount bills and issue currency. The Banque's final monetary policy objective was price stability, with growth of a broad monetary aggregate and a stable exchange rate as intermediate objectives. The Banque de France had the right to buy and sell Treasury bills and all negotiable debt instruments. The Banque de France was also the repository of the monetary reserves in the form of gold and foreign exchange.
ISSN:0028-4726
2163-5986