01610cas a2200253 a 4500 AALejournalIMF001801 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451846881 1018-5941 BD-DhAAL BD-DhAAL Osband, Kent. Independent Currency Authorities : An Analytic Primer / Kent Osband, Delano Villanueva. Washington, D.C. : International Monetary Fund, 1992. 1 online resource (30 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 This paper provides an analytic overview of independent currency authorities (ICAs), sometimes called currency boards. ICAs issue and redeem domestic currency against an exchange standard on demand and back such operations through a 100 percent marginal foreign reserve cover. They also impose significant constraints on the banking system and the budget of the country that operates them. When supporting institutions have been put in place, ICAs appear to have promoted price stability, foreign trade, saving, and investment. Mode of access: Internet Villanueva, Delano. IMF Working Papers; Working Paper ; No. 1992/050 Full text available on IMF http://elibrary.imf.org/view/journals/001/1992/050/001.1992.issue-050-en.xml IMF e-Library