01642cas a2200241 a 4500 AALejournalIMF000402 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451850505 1018-5941 BD-DhAAL BD-DhAAL Stella, Peter. Do Central Banks Need Capital? / Peter Stella. Washington, D.C. : International Monetary Fund, 1997. 1 online resource (39 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students Central banks may operate perfectly well without capital as conventionally defined. A large negative net worth, however, is likely to compromise central bank independence and interfere with its ability to attain policy objectives. If society values an independent central bank capable of effectively implementing monetary policy, recapitalization may become essential. Proper accounting practice in determining central bank profit or loss and rules governing the transfer of the central bank's operating result to the treasury are also important. A variety of country-specific central bank practices are reviewed to support the argument. Mode of access: Internet IMF Working Papers; Working Paper ; No. 1997/083 Full text available on IMF http://elibrary.imf.org/view/journals/001/1997/083/001.1997.issue-083-en.xml IMF e-Library