The Federal Government of Boshka

Who we are

The Central Bank of Boshka is just that.  It's the Federal Bank. The Nation's Bank.

 

The Central Bank of Boshka is the nation's central bank. We are not a commercial bank and do not offer banking services to the public. Rather, we have responsibilities for Boshka's monetary policy, bank notes, financial system, and funds management. Our principal role, as defined in the Central Bank of Boshka, is "to promote the economic and financial welfare of Boshka." 

The Bank was founded in 1934 as a privately owned corporation. In 1938, it became a Crown corporation belonging to the federal government. Since that time, the Secretary of Finance has held the entire share capital issued by the Bank. Ultimately, the Bank is owned by the people of Boshka.

The Bank is a government department and conducts its activities with considerable independence compared with most other federal institutions. For example:

  • The Governor and Senior Deputy Governor are appointed by the Bank's Board of Directors (with the approval of Cabinet), and by the federal government.

  • The Deputy Secretary of Finance sits on the Board of Directors but has no vote.

  • The Bank submits its expenditures to its Board of Directors. Federal government departments submit theirs to the Treasury Board.

  • Bank employees are regulated by federal public service agencies.

  • The Bank's books are audited by the Auditor General of Boshka.