"This book documents important milestones in the epic journey traversed by the Central Bank of Kenya over the last 50 years, putting into perspective the evolution of central banking globally and within the East African region, and contemplating future prospects and challenges. The book is timely, mainly because the global financial landscape has shifted. Central bankers have expanded their mandates, beyond the singular focus on inflation and consider economic growth as their other important objective. Financial crises have continued to disrupt the functioning of financial institutions and markets, the most devastating episodes being the global financial crisis, which broke out in 2008 and from which the global financial system has not fully recovered, and the unprecedented challenges posed by the global coronavirus pandemic. Bank regulation has moved from Basel I, to Basel II, and somehow migrated to Basel III, although some countries are still at the cross-roads. The book originated from the wide ranging discussions on central banking, from a symposium to celebrate the 50 year anniversary on 13 September 2016 in Nairobi. The participants at the symposium included current and former central bank governors from Kenya and the Eastern Africa region, high level officials from multilateral financial institutions, policy makers, bank executives, civil society actors, researchers and students. The book is an invaluable resource for policy makers, practitioners and researchers, on how monetary policy and financial practices in vogue today in Kenya have evolved through time and worked very well, but also about some pitfalls"--

Documenting important milestones in the epic journey traversed by the Central Bank of Kenya (CBK) over the last 50 years, 50 Years of Central Banking in Kenya puts into perspective the evolution of central banking globally and within the East African region, and contemplates future prospects and challenges. The volume is timely, mainly because within the last 50 years the global financial landscape has shifted. Central bankers have expanded their mandates, beyond the singular focus on inflation, and consider economic growth as their other important objective. Bank regulation has moved from Basel I, to Basel II, and some countries have fully migrated to Basel III while some are still at the cross-roads. 50 Years of Central Banking in Kenya captures the wide-ranging discussions on central banking, from a symposium to celebrate the 50 year anniversary on 13 September 2016 in Nairobi. The participants at the symposium included current and former central bank governors from Kenya and the East Africa region, high level officials from multilateral financial institutions, policy makers, executives of commercial banks in Kenya, private sector practitioners, civil society agents, executives and researchers from think tanks based in Kenya and the Africa region, leading academics in banking and finance, and university students. Beyond the symposium, the volume highlights the evolution of specific functions of CBK over the last 50 years (such as monetary policy, bank regulation, and payments system), as well as developments in Kenya's financial system which strongly relate to the functionality of CBK, such as financial innovation, the evolution of financial markets, and non-bank financial institutions in Kenya.

Provides an in-depth overview of the Federal Reserve System, including information about monetary policy and the economy, the Federal Reserve in the international sphere, supervision and regulation, consumer and community affairs and services offered by Reserve Banks. Contains several appendixes, including a brief explanation of Federal Reserve regulations, a glossary of terms, and a list of additional publications.

Documenting important milestones in the epic journey traversed by the Central Bank of Kenya (CBK) over the last 50 years, this volume puts into perspective the evolution of central banking globally and within the East African region, and contemplates future prospects and challenges.

Most central banks oblige depository institutions to hold minimum reserves against their liabilities, predominantly in the form of balances at the central bank. The role of these reserve requirements has evolved significantly over time. The overlay of changing purposes and practices has the result that it is not always fully clear what the current purpose of reserve requirements is, and this necessarily complicates thinking about how a reserve regime should be structured. This paper describes three main purposes for reserve requirements - prudential, monetary control and liquidity management - and suggests best practice for the structure of a reserves regime. Finally, the paper illustrates current practices using a 2010 IMF survey of 121 central banks.

In 2011 the World Bank—with funding from the Bill and Melinda Gates Foundation—launched the Global Findex database, the world's most comprehensive data set on how adults save, borrow, make payments, and manage risk. Drawing on survey data collected in collaboration with Gallup, Inc., the Global Findex database covers more than 140 economies around the world. The initial survey round was followed by a second one in 2014 and by a third in 2017. Compiled using nationally representative surveys of more than 150,000 adults age 15 and above in over 140 economies, The Global Findex Database 2017: Measuring Financial Inclusion and the Fintech Revolution includes updated indicators on access to and use of formal and informal financial services. It has additional data on the use of financial technology (or fintech), including the use of mobile phones and the Internet to conduct financial transactions. The data reveal opportunities to expand access to financial services among people who do not have an account—the unbanked—as well as to promote greater use of digital financial services among those who do have an account. The Global Findex database has become a mainstay of global efforts to promote financial inclusion. In addition to being widely cited by scholars and development practitioners, Global Findex data are used to track progress toward the World Bank goal of Universal Financial Access by 2020 and the United Nations Sustainable Development Goals. The database, the full text of the report, and the underlying country-level data for all figures—along with the questionnaire, the survey methodology, and other relevant materials—are available at www.worldbank.org/globalfindex.

This book examines the current state of central banking in 44 developing countries. The authors analyse the banks' achievement in their primary objective of price stability and discuss the reasons behind the general lack of success. The book covers: * government financing * foreign exchange systems * domestic banking systems. Rich in data, the book contains original financial information from Africa, Asia, the Middle East, Europe, Latin America and the Caribbean. The lay-out is user-friendly and generously illustrated with tables, figures, boxed material and useful appendices. The book is published in association with the Bank of England and presents the definitive account of the role of central banks in developing countries.