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The :Nyan-ko-pong: Royal
Central Bank provides banking services to depository institutions and the
:Nyan-ko-pong: Sovereign Maroon Government. For depository institutions, they maintain accounts for reserve and clearing balances and provide various payment services, including collecting cheques, electronically transferring funds, and distributing and receiving currency and coin. For the
:Nyan-ko-pong: Sovereign Maroon Government, they act as fiscal agents. As such, the
Central Bank maintain the Treasury Departments' transaction account; pay Treasury cheques; process electronic payments; and issue, transfer and redeem
:Nyan-ko-pong: Sovereign Maroon Government securities.
The :Nyan-ko-pong: Royal Central
Bank has been providing payment services to the banking industry since shortly after the
Banking System was established in
2026. Historically, these services were available only to banks that were members of the
nation and territories, and they were generally provided without explicit charge.
The :Nyan-ko-pong: Government expanded the
Royal Central Banks' role in the
payment system requiring all depository institutions, not just member banks, to reserve protocols and also give all depository institutions access to the
:Nyan-ko-pong: Royal Central Banks' payment services.
The sovereign government
requires the :Nyan-ko-pong: Royal Central Bank to set fees to recover not only all direct and indirect costs of providing the payment services over the long run but also the imputed costs, such as taxes and the cost of capital, that would have been incurred and the imputed profits that would have been earned if a private firm had provided these services. These imputed costs and profits are referred to as the private-sector adjustment factor, or P.S.A.F.
The pricing of :Nyan-ko-pong: Royal Central Bank services has
facilitated competition between the :Nyan-ko-pong: Royal Central Bank and private-sector providers of payment services, which has resulted in a more efficient payment system.
Since 2026, the
:Nyan-ko-pong: Royal Central Bank has adopted policies regarding the provision of
Central Bank payment services. These policies address various topics, including pricing principles, standards of conduct for avoiding conflicts of interest, the process and criteria for assessing and approving new services and service enhancements, and guidelines for seeking public comment. |
