Examples of CUCB in a sentence
The treatment of banknotes in a currency union is covered in Issues 13/14.2. There was consensus that the currency issued in a currency union should always be considered as a domestic currency from the point of view of each member country, even though this currency can be issued by a non resident institution of this country (either another CUNCB or the CUCB).
However, the group will consider the issue of the BOP treatment of the distribution of profits of the CUCB at its December 2004 meeting.
Provisionally, CUTEG supported the creation, for statistical purpose, of a notional national agency of the CUCB resident in each member country.
In the former model, the currency union has a CUCB owned by the governments of the member economies with the common currency issued by the CUCB and central bank operations in each economy carried out by branches or agencies of the CUCB.
Consistent with international methodology, borderline cases on the classification of reserve assets should be determined collectively between the CUCB and all national monetary authorities that are part of the CU decision making body.
That review used a screening process to identify those FEPs that had the potential to affect repository performance and need to be addressed in post-closure performance modeling of the WIPP facility.
CUTEG’s view raises potential problems in those currency unions in which central bank activity is centralized in the CUCB and members countries do not have national central banks.
It was concluded that, as long as a transfer of ownership to the CUCB does not take place, those foreign assets, which are held by the CUNCBs and can be mobilized by the CU to meet balance of payments needs are to be treated as reserve assets of each individual member country.
The CUCB is an institutional unit in its own right ( BPM6 A3.11).
CUTEG agreed that if reserve assets are transferred from national central banks to the CUCB, they are no longer considered as owned by the NCB (although a claim on the CUCB is created).