Central Banking

CNB's Frait on negative central bank capital

In the speech 'Exchange rate appreciation and negative central bank capital: Is there a problem?' given on 31 August Jan Frait of the Czech National Bank said the seriousness and potential consequences of negative capital of the central bank depend on the source of the underlying losses.

"Thanks to the fact that the only source of CNB's losses in the last few years has been revaluations of foreign exchange reserves, we can ignore other sources effective in the past. With this assumption in mind

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