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Peníze v bankovním systému analýza bilancí centrálních bank
[Money in the Banking System - Analysis of the Balance Sheets of Central Banks]

Author

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  • Zbyněk Revenda

Abstract

Crisis development in some banking systems has been associated with large-scale aid programs, which has been heavily involved with the central bank's impact on the very rapid growth of their balance sheets. The banking system in the Czech Republic in the period 2005-2015 has not undergone any crisis. Significant changes in the balance of the Czech National Bank were associated with foreign exchange interventions against the Czech crown. High liquidity determines almost zero demand of banks for loans from the central bank. The Czech National Bank is in the "debtor" position in relation to banks. Central banks in the European Monetary Union and the United States are in the opposite position of the creditors. The dramatic growth in bank reserves had no significant inflationary pressures. The main reason is careful supply of bank loans. All this confirms that issuing money into the economy is associated especially with commercial banks' lending to non-bank subjects. Central bank issues money only to the banking system.

Suggested Citation

  • Zbyněk Revenda, 2017. "Peníze v bankovním systému analýza bilancí centrálních bank [Money in the Banking System - Analysis of the Balance Sheets of Central Banks]," Politická ekonomie, Prague University of Economics and Business, vol. 2017(3), pages 267-286.
    • Handle: RePEc:prg:jnlpol:v:2017:y:2017:i:3:id:1143:p:267-286
    DOI: 10.18267/j.polek.1143
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    References listed on IDEAS

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    5. Ben S. Bernanke & Vincent R. Reinhart, 2004. "Conducting Monetary Policy at Very Low Short-Term Interest Rates," American Economic Review, American Economic Association, vol. 94(2), pages 85-90, May.
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    More about this item

    Keywords

    bank reserves; central bank; currency; foreign exchange reserves; monetary base; monetary policy; money multiplier; quantitative easing;
    All these keywords.

    JEL classification:

    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies
    • G01 - Financial Economics - - General - - - Financial Crises

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