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Tags: cf card icon, chipscope icon, icons in party, avater icons, glitters icons

- , "a serious problem is that to bank which stores at itself

"Untouchable" reserves, simultaneously it is necessary to act in a role of the creditor in

Ultimate authority. In practice two these functions are incompatible: one Orders to bank to store money, while another - the same money To give. "September 1st, 1866., See The Economist Activity of the central bank as the creditor in last Instances Hotri (Hawtrey) Chapter IV, has been named see "The Art of Central Banking" basic function of the central bank. In system,

Named by Bejdzhhotom "natural", any of banks would not possess Any special obligations to others.

Despite obvious, from the point of view of Bejdzhhota, defects of the centralised

Systems, he, nevertheless, did not see any chances to refuse it in advantage

Multireserve system. Moreover, Bejdzhhot recognised I fly naivety of the similar

Ideas: the whole decades would leave on construction of system to which all would trust

The same as to Bank of England, already had time to become a key element Existing system. Thus, Bejdzhhot at all did not call for its replacement On the alternative; he only tried to explain main principles

The politicians, capable to reduce an inefficiency of already existing system.

- wanted, that Directors of Bank of England have realised that double pressure,

Under which there were cash resources of Bank during the crisis periods owing to

The dual nature of its position: as keeper of reserves of other banks, with

One party, and as creditor in an ultimate authority - with another. To bank of England

It was made a duty, first, to be to banks of money ready to delivery, in All relations were their property (namely the means deposited In Bank of England as reserves). Secondly, it should provide Credits those institutes, whose cash resources appeared insufficient. monetary brokers,

Has in this case no special value. Operating thus, That

The fact that Bank of England directly finances not banks and it of all Only provides brokers with necessary means for crediting of banks. All it has led to Bejdzhhota to a conclusion that followed Bank of England To adhere to more cautious policy and that bank reserves in size One thirds of deposits are insufficient.

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Large Weather Icons Large Weather Icons represent a number of weather conditions typical in software, weather portals, and mobile gadgets. The images arprovided in all sizes standard to Windows, Mac OS, and other systems. The largest versions are huge 512x512 pixel icons with vector sources in Adobe Illustrator (.ai) format easily affordable and ready to be printed or used in presentations in highest quality.

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