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Global Ranking: Top 10 Largest Central Banks by Asset
A Central Bank is the apex bank of any nation. It is responsible for formulating monetary policy, and acting as banks to the Government and other Bankers. They are generally owned by the country’s government.
Generally, the functions of Central Banks include:
- Currency regulator or bank of issue.
- Bank to the government.
- Custodian of Cash reserves.
- Custodian of International currency.
- Lender of last resort.
- Clearing house for transfer and settlement.
- Controller of credit.
- Protecting depositors interests.
While a nation’s central bank is expected to be richest, being the big brother bank, a comparison among apx banks globally reveal they have more assets than each other.
Below are the top 10 richest central bank across the globe based on assets value;
1. Federal Reserve – $7.86 trillion
2. Bank of Japan – $5.15 trillion
3. People’s Bank of China – $5.14 trillion
4. Deutsche Bundesbank – $2.68 trillion
5. Bank of France – $2.30 trillion
6. Bank of Italy – $1.55 trillion
7. Bank of Spain – $1.32 trillion
8. Bank of England – $1.29 trillion
9. Swiss National Bank – $1.03 trillion
10. Reserve Bank of India – $0.81 trillion
Disclaimer
The information in this article was curated from online sources. NewsWireNGR or its editorial team cannot independently verify all details.
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