Series: IMF Working Papers
Author(s): Claudia Dziobek , and John Dalton
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 01 April 2005
Keywords: central bank balance sheet, central bank losses, central bank, monetary fund, national bank, government securities, International Lending and Debt Problems,
Under normal circumstances, a central bank should be able to operate at a profit with a core level of earnings derived from seigniorage. Losses have, however, arisen in several central banks from a range of activit...