Royal Central Bank

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Royal Central Bank of Aerion
royal_central_bank.jpg
Headquarters Astevane
Central Bank of Aerion
Currency Aerionian Gold Leaf
Governor Jonvaul Carsonin
Printer The Royal Mint


The Royal Central Bank is perhaps unique to the Grand Kingdom of Aerion. It serves the function of a central bank, but with its various branches it is also the primary commercial bank, investment bank, and even creditor in the Grand Kingdom of Aerion. It has an almost exclusive monopoly on banking. It can set the rates, and benefit from the rates.

Purpose

-Serving as the main bank of Aerion
-Conducting the nation’s monetary policy by influencing the monetary and credit conditions in the economy in pursuit of maximum employment, stable prices, and moderate long-term interest rates
-Maintaining the stability of the economy
-Serving as the main credit bureau and source of credit reports for the Grand Kingdom
-Providing Settlement Services and Ensuring the Stability of the Financial System
-International Activities
-Compilation of Data, Economic Analyses and Research Activities
-Maintaining the nation's payment system
-Subject to permission by Royal Decree, perform other tasks in the public interest

The Executive Board

The Governor, and 7 member Executive Board of the Royal Central Bank decides interest rates, and make other decisions on national monetary policy that a central bank makes.

The Crown by Royal Prerogative appoints the Governor of the Royal Central Bank and the Executive Board. The Crown also by Royal Prerogative has an permanent seat on the Executive Board, whom it usually sends a Royal Representative to.

Royal Bank

royal_bank.jpg

The investment, commercial, retail, and creditor divisions are under the "Royal Bank" with its own Board of Directors, subordinate to the Executive Board. It should be noted that many megacorporations have their own banks, that operate solely for their employees, but are also a way for the megacorporations to have control over their employees. The Crown and other members of the Royal Family own a total of 40% of the Royal Bank.

Each division has several branches as well.

Major Divisions

The Royal Bank is the commercial banking branch. It handles consumer banking such as savings, checking, loans, etc.

The Royal Investment Bank helps customers raise funds in the Capital Markets and advising on mergers and acquisitions. It provides asset management services. It also provides stock brokerage services.

The Royal Private Bank provides wealth management services for extremely affluent clients. The Royal Private Bank provides a combination of services of the other divisions for these clients. Generally clients are an Ultra-High-Net-Worth Individual, individuals or families who have at least A£50 million in investable assets.


AerionCard is the nation's largest provider of credit cards and charge cards. These vary by credit level. Green, Gold, and Platinum AerionCards are the common seen. AerionCard's charge card is the Aerion Express. Aerion Express has their Green, Gold, and Platinum card.

The Black Card

The Black Card is the most prestigious Aerion Express card, and is by invitition only. This exclusive and coveted card requires minimum annual spending of A£300,000. The Black Card features a personal concierge service, with one person assigned to your account. Other benefits include personal shoppers at many Aerionian luxury stores, and elite club memberships including Aerionian Hotel & Resorts Platinum VIP Guest Status. Cardholders of the Black Card have been known to charge A£300,000 Adinas luxury automobiles with a swipe of their card.


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Notes and Criticisms

Economic Dictatorship

Monopolies are common, with most Aerionian megacorporations having monopolies over some good or service. However, the level of the monopoly that the Royal Bank has is unrivaled many economists say or just plain ridiculous.

The Royal Central Bank sets interests rates, and maintains monetary policy that directly benefits the Royal Bank. In an most outrageous arrangement many economists say, they can set the rates and benefit from the rates at the same time!

They can absolutely ruin an citizen that is without their own resources financially. The Royal Central Bank is the primary credit bureau for the Grand Kingdom, a most unusual arrangemnet. At the same time the Royal Bank is the main provider for credit.

The Crown through the Royal Central Bank and the Royal Bank has access to a majority of the citizenry's financial records, though public surveillance is common in Aerion and this does not matter as much.

Megacorporations Own Their Own Internal Banks

The Royal Government has authorized megacorporations to own their own banks, these banks may only be used by employees of the megacorporation and the megacorporation themselves however. They are also generally licensed to operate in only one province, usually the headquarters of the megacorporation. A megacorporation wishing to have banks in multiple provinces will need to open separate banking systems for each province.

These banks must keep their fractional reserves in the Royal Central Bank if they have any, and 10% of their assets. No interest is paid on these.

The Crown That Owns It Does Not Even Use

It is often noted that the Crown has some of its financial assets in the Crown Bank, a private bank with the assets of the Crown and much of the assets of individual Royal Family members. Aerionian Gold Leaves are converted into Crown Notes, the private currency issued by the Crown Bank. This currency is backed up by gold commodity. A Crown Note is made of paper, making it deeply ceremonial, as opposed to the electronic currency of the majority of the Kingdom on things such as credit-chips. The Crown Note is highly respected as it is known to be backed by gold. The starting Crown Note is worth A£50,000 Aerionian Gold Leaves. The Royal Family often uses this for greater payments or for ceremonial times. The Crown Prince has often been using them for charity presentations.

Some of this gold is stored in the Royal Vault in the Royal Palace, which also has other valuables of the Crown and Royal Family such as the Crown Jewels.